Bank technology has made a lot of bookkeeping easier, but those who work with financial records are aware that it’s not ideal. Bank feeds disconnect, historical transactions might not be available or the clients are still sending statements as PDFs. Then, someone has to transform a PDF document meant to be read by a reader into something accounting software will actually use.
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Converting bank statements can save you time by automatizing the process. Docubrew converts bank statement data into spreadsheet-ready information, rather than manually entering dates, descriptions withdrawals, and deposits row-by-line.
If a PDF is the missing part
Imagine that a bookkeeper is preparing an annual reconciliation for the client. The accounting system shows the most the most recent transactions, however some older months have been left out. Luckily, the client was able to download the original PDF account statement.
Typically, rewriting in those months may require the time of copying figures onto a spreadsheet. The bank statement in PDF format to Excel workflow is a feasible alternative. Docubrew can extract transaction information from digital PDFs and scanned bank statements on paper.
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
The bank statements aren’t just composed of transactions. A 12-page report could contain an account summary, disclosures and notices, and several pages of actual banking activity.
Docubrew lets users to see a document’s preview and select the appropriate pages for conversion. It is much easier to convert bank statement accounts to Excel because the contents that are not related to the bank account of the document are not included in your working dataset.
The resulting file can be used with accounting platforms like QuickBooks, Xero and FreshBooks.
CSV Offers a Flexible Accounting Workflow
CSV is still popular due to the fact that spreadsheets, databases and accounting software are compatible with it. Docubrew can transform bank statements into CSV based on its transaction table.
This same process can assist companies convert bank statements to CSV while rewriting historical books as well as handling a client cleanup project, searching for missing transactions or preparing details to be reconciled.
Accounting firms that have to process a variety of clients or statements simultaneously may benefit by batch processing.
Financial Documents should be analyzed for privacy safeguards
When processing financial records it isn’t the only consideration. Bank statements may contain sensitive client data therefore bookkeepers and accountants might also be concerned about the location where processing occurs.
Docubrew offers two options. Windows desktop software handles files on the personal computer of the user, and the statements cannot be uploaded to be converted. The encrypted cloud version is available to those who prefer to work in browsers. Uploads are deleted immediately after 24 hours.
The platform could range that ranges from Excel software to bank statements which rely solely on remote processing.
Turning Document Archives Back Into Working Data
While PDF statements can be excellent records, they are inconvenient to utilize when transactions have to be sorted or reconciled. They can’t also be imported, filtered, re-organized or re-organized. Scanned files can pose problematic because the information about transactions could only be present in the form of an image.
Docubrew is a combination of statement parsing and OCR support for scanned documents that give bookkeepers, accountants and companies a practical path from financial paperwork stored in archives to a usable set of transactional data.
This simple fix can speed up an inefficient workflow by preserving the original bank statement, while the transaction table is converted to data that you can use.