The advancement of technology in banking has made bookkeeping more efficient, but those who deal with financial records are aware that it’s not perfect. Clients are still sending PDF statements, bank feeds aren’t working, and historical transactions aren’t accessible. In the end, someone must alter a PDF document meant to be read by a reader into something accounting software will actually use.
A converter for bank statements can reduce the amount of repetitive work required in this process. Docubrew instantly converts the data from your bank statements into structured spreadsheet data.
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When a PDF becomes the missing piece
Imagine a bookkeeper making the year-end reconciliation of an unnamed client. The accounting platform shows the most recent transactions, however some older months are missing. The client downloaded the PDF original statements.
The past was when re-creating those months would require many hours of copying and pasting numbers into spreadsheets. A bank statement PDF to Excel workflow is a much more efficient alternative. Docubrew can extract information about transactions from digital PDFs and scan bank statements printed on paper.
Reduced manual transcription is a great way to reduce the chance of typing mistakes for professionals who must transfer bank balances to Excel frequently.
Make sure you keep the pages that matter
Statements from banks don’t contain only transactions. A 12-page document might contain an account overview, disclosures, notices and pages of bank transactions.
Docubrew allows users to preview the document and choose the appropriate pages prior to conversion. This allows users to convert bank statements to Excel without adding unrelated statements content into the working dataset.
Once processed, the resulting file can then be opened in Excel or made ready for use using accounting software such as QuickBooks, Xero, and FreshBooks.
CSV offers a flexible accounting Workflow
CSV remains popular since spreadsheets as well as accounting software, databases and spreadsheets allow it. If you need a bank statement to CSV, Docubrew produces structured output based on the transaction table contained in the statement.
The same process can help firms convert bank statements into CSV, regardless of whether they are reconstructing historical records, handling cleaning projects for new clients, looking into missing transaction, or preparing the data for reconciliation.
Accounting firms that need to deal with clients or multiple statements can use batch processing to their advantage.
Financial Documents deserve thought-out privacy safeguards
There are many factors to consider when processing financial records. Accounting and bookkeeping professionals may be concerned about the processing location since bank statements contain sensitive details about the client.
Docubrew comes with two ways to process data. Windows desktop applications convert files locally on the PC of the user. The cloud version that is encrypted is available to users who prefer working with a browser. Uploads are removed automatically after 24 hours.
This distinction is what differentiates Excel software, which depends entirely on remote processing from the bank statement platform.
Turning Document Archives Back Into Working Data
PDF statements are great documents, however they can be a hassle when transactions need to be reconciled, sorted out, removed, or imported into another. Scanned documents can cause additional complications as the transaction data can only be present as an image.
Docubrew integrates statement parsing and OCR support for scanned documents providing bookkeepers, accountants and other businesses a feasible route from archived financial paperwork to usable transaction data.
The result is a straightforward improvement to an otherwise tedious procedure: maintain the bank statement as the primary financial record, while transforming its transaction table into data you can actually work with.