Technology from banks has made bookkeeping simpler, but people who handle financial records are aware that it’s not perfect. Clients are still sending PDF statements, bank feeds may not be working and historical transactions aren’t available. When that happens, somebody must transform a document designed for reading into data that accounting software can utilize.
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A bank statement converter can eliminate much of the repetitive work involved in that process. Docubrew instantly converts the data of your bank statement into structured spreadsheet data.
If a PDF is the missing piece
Imagine a bookkeeper preparing a year-end reconciliation for an incoming client. The accounting platform displays recent transactions, but some of the older years are missing. Fortunately clients have downloaded the original PDF reports.
It used to take hours of gruelling copying into the spread sheet. A PDF bank account statement to Excel workflow offers a more convenient alternative. Docubrew accepts digital PDFs, as well as the paper copies and extracts the transaction details for use in spreadsheets.
Reduced manual transcription can also decrease the risk of mistakes when typing. This is an important benefit for those working in the field who have to regularly move bank statements into Excel.
Keep the Pages That Actually count
Statements from banks do not consist exclusively of transactions. A 12-page statement could contain a brief description of the account, disclosures and notices and a few pages of information about the actual bank activities.
Docubrew lets users preview the document and choose the appropriate pages prior to conversion. It makes it much easier to convert bank statements to Excel without adding unrelated statements contents into the working data.
The resulting file is ready to use using accounting platforms like QuickBooks, Xero and FreshBooks.
CSV allows for a variety of accounting workflow
CSV is still a useful format, as it’s widely supported by databases and spreadsheets. Accounting applications can also use CSV. Docubrew will change your bank statement to CSV by using the transaction tables contained within the report.
The same workflow helps firms convert bank statements into CSV. This is whether they’re rebuilding old records, coordinating the cleanup of new clients, researching missing transaction, or preparing the data for reconciliation.
Accounting firms who need to work with multiple statements or clients can find batch processing particularly useful.
Financial Documents Should Be viewed with a keen eye for privacy Controls
Processing financial records isn’t solely about convenience. Bank statements may contain sensitive information about clients, so accountants and bookkeepers may also care about where processing takes place.
Docubrew gives two options. Windows desktop application converts files locally, and on the user’s computer. People who prefer workflows that are based on browsers can choose the cloud encrypted option, in which uploaded files are deleted automatically after 24 hours.
The platform can range from Excel software to bank statements which rely exclusively on remote processing.
Turning Document Archives Back Into Working Data
PDF statements are great documents, but they’re not ideal when transactions must be reconciled, sorted out, filtered, or imported elsewhere. Scanned documents add another complication as the transaction data may exist only in the form of an image.
Docubrew is a powerful software that blends OCR and statement parsing to turn scans of documents into useful financial data. This provides accountants, bookkeepers, and business owners a way to convert financial records that are archival into useful transactional information.
This results in a boost of a process which was previously cumbersome as the bank statement continues as the primary financial record but the transaction table becomes data you can use.