Technology in banks has made a lot of bookkeeping easier, but those who work with financial records are aware that it’s not perfect. In the case of feeds from banks, transactions aren’t always available, and clients still send statements in PDF. In the event of this, someone must transform a document intended for reading into data that accounting software actually use.
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Utilizing a bank statement converter can cut down on the time-consuming work. Instead of manually entering dates or descriptions, withdrawals and deposits row by row Docubrew converts statements into structured spreadsheet-ready data.
When a PDF is deemed to be the missing piece
Imagine a bookkeeper making a year-end reconciliation for an incoming client. The accounting platform shows the most recent transactions, however a few older months were left out. The client had downloaded the original PDF statements.
Traditionally, rebuilding in those months may require many hours of copying figures into an Excel spreadsheet. A bank statement in PDF format to Excel workflow offers a feasible alternative. Docubrew can extract information about transactions from digital PDFs and scanned bank statements made of paper.
The reduction of manual transcription is a great method to cut down the chance of typing mistakes for professionals who need to transfer bank statements into Excel on a regular basis.
Be sure to keep the pages that Actually are Important
The bank statements aren’t only transactions. A 12-page account statement may include a summary of the account information, disclosures and notifications as well as a number of pages detailing actual banking activities.
Docubrew lets users look at the document before they open it, and then select the appropriate pages before conversion. That makes it easier to convert bank statements to Excel without having to import unrelated statement content into the working dataset.
The final file can be used in conjunction with accounting platforms such as QuickBooks, Xero and FreshBooks.
CSV Provides Flexible Accounting Workflow
CSV is still useful since it is extensively supported by databases, spreadsheets, and accounting applications. Docubrew can convert bank statements to CSV based on the table of transactions.
The same workflow can be used to transform bank statements to CSV for a variety of reasons, including rewriting historical books, tackling an undertaking to cleanse unused client data, investigating missing transactions or preparing the information for reconciliation.
Processing in batches can be especially advantageous for accounting firms who are working with multiple statements or clients at once.
Financial Documents need to be considered for privacy safeguards
When processing financial records, convenience is not the only thing to think about. Bank statements may contain sensitive information about clients, so accountants and bookkeepers may also care about the location where processing occurs.
Docubrew has two ways to do this. Windows desktop software runs files stored on the computer used by the user, and the statements cannot be uploaded to be converted. If you prefer a browser-based workflow can opt for the cloud version that is encrypted that allows for uploading files to be instantly deleted within 24 hours.
That choice distinguishes the platform from bank statement to Excel software that depends exclusively on remote processing.
Turning Document Archives Back Into Working Data
The PDF statement is a fantastic record, but it’s a hassle should you need to reconcile, sort or filter transactions in other systems. Scanned files can add a new complication, as the transaction information is often only available in pictures.
Docubrew offers a combination of statements parsing as well as OCR for scanned documents. It gives accountants, bookkeepers, and businesspeople a easy way to convert old financial records into actionable transaction information.
This simple solution improves the efficiency of a lengthy process by keeping the original bank statement while making its transaction table available to the information you need to use.