The advances in technology for banking have significantly automatized bookkeeping. However anyone dealing with financial records is aware that the automation process doesn’t always work. Clients continue to send PDF statements, bank feeds may not work as they should, and historical transactions may not be accessible. This means that someone needs to transform a PDF document that is intended to be read by a reader into something accounting software actually utilizes.
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A converter for your bank statement can eliminate much of the repetitive work required in this process. Docubrew automatically converts the information of your bank statement into structured spreadsheet information.
When a PDF becomes the missing component
Imagine a bookkeeper working on an annual reconciliation for the client. The accounting platform displays the most recent transactions, however some older months are missing. Fortunately, the client has downloaded the original PDF statement.
In the past, rewriting those months could involve long hours of copying numbers into the spreadsheet. The bank statement PDF to Excel workflow is a practical alternative. Docubrew accepts electronic PDFs as well scanned paper statements and extracts transaction data to be used in spreadsheets.
For professionals who regularly need to move a bank statement to Excel, reducing manual transcription also removes an unnecessary opportunity for typing errors.
Keep the Pages That Actually Are Counting
Statements of bank accounts aren’t made up entirely of transactions. A 12-page statement could contain an account summary including disclosures, notices and statements along with several pages describing the actual activities of banking.
Docubrew allows users to view the document, and then select the relevant pages before conversion. This makes it easier to convert bank statement data to Excel without having to add unrelated content.
The final file can be used by accounting platforms such as QuickBooks, Xero and FreshBooks.
CSV provides a flexible Accounting Workflow
CSV remains useful and is widely used by spreadsheets and databases. Accounting applications can also use CSV. Docubrew can transform your bank statement into CSV using the transaction tables within the report.
This same process can assist firms convert bank statement to CSV while rewriting historical books as well as handling a client cleanup project, searching for missing transactions, or creating information to be reconciled.
Accounting firms that have to handle multiple statements or clients can find batch processing particularly useful.
Financial Documents require careful consideration of privacy safeguards
Processing financial records isn’t just about the convenience. Bank statements can contain sensitive client data Bookkeepers and accountants may also care about the place where they process.
Docubrew offers two options. Windows desktop application converts files locally, on the PC of the user. For those who prefer workflows based on browsers, they can choose the cloud encrypted option. Files uploaded will be automatically deleted within 24 hours.
This distinction distinguishes the platform from bank statement to Excel software that relies solely on remote processing.
Turning Document Archives Back Into Working Data
Although PDF statements are great records, they are inconvenient to use when transactions need to be reconciled or sorted. They are also not able to be transferred, processed, re-organized, etc. Scanned files create an additional complexity, since the transaction information is often only available as images.
Docubrew is a solution that combines statement parsing and OCR for documents that have been scanned. It gives accountants bookkeepers, and businesspeople a simple method of transforming archived financial documents into actionable transaction information.
This simple solution improves the process of keeping the original bank statement while converting its transaction table to the information you need to use.