The banking technology has greatly automatized bookkeeping. However those who deal with financial records is aware that automation doesn’t always work. The feeds of banks aren’t working, the historical transactions aren’t always available or the clients are still sending statements as PDFs. In the end, someone must transform a PDF document designed for reading into a document that accounting software will actually use.
Converting bank statements can help you save time by making the process easier. Docubrew converts bank statement data into spreadsheet-ready information, rather than manually entering date, description deposits, withdrawals row by line.
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If a PDF ends up being the missing piece
Imagine a bookkeeper preparing an annual reconciliation for a client. The accounting platform shows the most recent transactions, however a few older months have been left out. The client downloaded the Original statements as PDF.
The past was when re-creating the months of those years would have required many hours of copying and pasting numbers into a spreadsheet. A PDF bank statement to Excel workflow provides a more practical alternative. Docubrew removes transaction information from paper-based statements that are scanned, or digital PDFs.
Reduced manual transcription can also decrease the risk of typing errors, which is a major benefit for professionals that need to transfer bank accounts regularly into Excel.
Keep the Pages That Matter
Statements from banks do not consist only of transactions. A 12-page report could contain the cover sheet, account overview, disclosures, notices as well as a number of pages of the actual bank activity.
Docubrew lets users preview the document and select the appropriate pages prior to conversion. It is simpler to convert statements from bank accounts to Excel because the unrelated contents of the statements aren’t included in your data set.
The final file can be used with accounting platforms like QuickBooks, Xero and FreshBooks.
CSV Offers a Flexible Accounting Workflow
CSV remains valuable because it is extensively supported by databases, spreadsheets, and accounting programs. Docubrew can convert bank statements to CSV by referring to its transaction table.
The same workflow can help firms convert bank statements to CSV when reconstructing historical books as well as handling a client cleanup project, looking into missing transactions, or creating data to reconcile.
Accounting firms that need to process a variety of clients or statements at the same time can benefit by batch processing.
Financial Documents Need Considerate Privacy Controls
It’s not the only thing to think about when processing financial records. Accounting and bookkeeping professionals may be concerned about where they process the data as bank statements are confidential client information.
Docubrew has two ways to do this. Its Windows desktop application processes documents locally on the computer of the user and therefore the data isn’t uploaded for conversion. The cloud version with encryption is available to users who prefer working in a browser. Files uploaded are deleted automatically within 24 hours.
The choice of this platform is different from the bank statement Excel software, which relies exclusively on remote processing.
Turning Document Archives Back Into Working Data
While PDF statements can be excellent records, they’re difficult to utilize when transactions need to be sorted or reconciled. They are also not able to be imported, filtered, re-organized, etc. Scanned files create an additional issue, as the information about transactions is usually only accessible in images.
Docubrew offers statement parsing in conjunction with OCR support for scanned documents providing bookkeepers, accountants and other businesses a feasible route from archived financial paperwork to usable transaction data.
This simple remedy can help speed up an inefficient workflow by preserving the bank statement that was originally issued while the transaction table is converted to data you can use.
