The technology of banking has automated the bookkeeping process in a lot of ways however anyone working in financial records will tell you that it’s not perfect. Clients still send statements in PDF format, feeds from banks may not work and historical transactions aren’t available. It is necessary to convert a document that was intended to be read by a computer into information that accounting software actually uses.
Utilizing a bank statement converter will reduce the amount of repetitive work needed. Instead of entering manually dates description, withdrawals, and deposits row by row, Docubrew converts information from the statement into structured spreadsheet-ready information.
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If a PDF is the missing piece
Imagine a bookkeeper who is working on the year-end reconciliation of a new customer. The accounting platform includes the most recent transactions, however, several older months are not included. Fortunately clients have downloaded the original PDF statement.
The past was when creating those months would require many hours of copying and pasting numbers into spreadsheets. The PDF bank statement to Excel workflow offers a more efficient alternative. Docubrew can extract transaction information from digital PDFs and scan bank statements printed on paper.
Manual transcription can be a great method to cut down the risk of errors in typing for professionals who need to transfer bank balances to Excel frequently.
Make sure you keep the pages that Actually are Counting
Bank statements don’t consist solely of transactions. A 12-page report could contain a cover page, account overview, disclosures, or notices and a few pages of actual transactions in the bank.
Docubrew lets users view the document and select the relevant pages prior to conversion. That makes it easier to convert bank statements to Excel without bringing unrelated statement content into the working dataset.
Once the file is processed, it can be opened using Excel or integrated into accounting platforms such as QuickBooks, Xero, FreshBooks, etc.
CSV can be used to create a more flexible accounting workflow
CSV remains useful since it’s extensively supported by spreadsheets and databases. Accounting software also supports CSV. Docubrew will transform your bank statement into CSV by using the transaction tables contained in the statement.
This same workflow is utilized to transform bank statements to CSV files for various reasons, such as reconstructing historical books, taking on projects to clear unused client data, investigating missing transactions, or even preparing the information to be used in reconciliation.
Accounting firms that must manage multiple accounts or clients simultaneously can benefit by batch processing.
Financial Documents Deserve Thoughtful Privacy Controls
Processing financial records isn’t solely about ease of use. Accounting and bookkeeping professionals may be concerned about the processing location because bank statements contain sensitive details about the client.
Docubrew gives two methods. Windows desktop software handles files on the computer of the user. However, the statements aren’t uploaded to be converted. For those who prefer to work with browsers can select the cloud encryption option in which uploaded files are automatically deleted within 24 hours.
This is the reason Excel software stands out Excel software, which depends entirely on remote processing from the bank statement platform.
Turning Document Archives Back Into Working Data
The PDF statement can be a useful record, but it’s a hassle if you need to reconcile, sort, filter, or import transactions from other sources. Scanned documents add another complication since the transaction details could only be available as an image.
Docubrew combines statement parsing with OCR support for scanned documents that give bookkeepers, accountants as well as businesses a practical method of converting financial paperwork that is archived to usable transaction information.
The result is a straightforward improvement to an otherwise monotonous workflow: keep the bank statement as the original financial record while turning its transaction table into data you can actually work with.
