Technology in banks has made a lot of bookkeeping tasks easier, however those who work with financial records are aware that it’s not ideal. Customers still send statements in PDF format, feeds from banks may not be working as they should, and historical transactions may not be accessible. It is then necessary to convert a PDF file designed for reading into a document that accounting software can actually read.
A bank statement converter can eliminate much of the repetitive tasks involved in the process. Docubrew automatically converts the information from your bank statements into structured spreadsheet information.
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A PDF can become the missing piece
Imagine that a bookkeeper is working on an annual reconciliation for the client. The accounting system contains the most recent transactions, but several older years aren’t included. Fortunately, the client has downloaded the original PDF statement.
It used to take long hours of tedious copying the spread sheet. A bank statement PDF to Excel workflow is a much better option. Docubrew accepts digital PDFs as well as scans of paper statements, and extracts transaction data to use in spreadsheets.
Reducing manual transcription is also a great method to cut down the chance of errors for professionals who need to transfer bank statements into Excel frequently.
Keep the Pages That Matter
Statements from banks don’t contain only transactions. A 12-page account statement may contain an introduction page, a account summary, disclosures or other notices and a few pages of transactions in the bank.
Docubrew lets users preview the document, and then select the appropriate pages prior to conversion. That makes it easier to convert bank statements to Excel without bringing unrelated statement content into the working dataset.
The file created is ready to use using accounting platforms like QuickBooks, Xero and FreshBooks.
CSV Allows for Flexible Accounting Workflow
CSV remains useful because it is extensively supported by databases, spreadsheets, as well as accounting applications. Docubrew can convert bank statements to CSV based on its transaction table.
The same process helps businesses convert bank statements to CSV. It is useful whether making historical records from scratch, handling cleaning projects for new clients, looking into the missing transaction, or even preparing the data for reconciliation.
Accounting firms that have to deal with clients with multiple statements may use batch processing to their advantage.
Financial Documents deserve thought-out privacy protections
The convenience factor isn’t the only one to consider when it comes to processing financial records. Bookkeepers and accountants could be also concerned about the location where they manage financial records.
Docubrew offers two options. Windows desktop software handles files on the computer of the user, and the statements cannot be uploaded to be converted. The cloud version that is encrypted is available to those who prefer to work in browsers. Files uploaded to the cloud are erased automatically within 24 hours.
The platform may range from Excel software to bank statements that rely solely on remote processing.
Turning Document Archives Back Into Working Data
Although PDF statements make excellent documents, they’re not ideal to use when transactions have to be sorted or reconciled. They can’t also be used to import, filter, or re-organize, etc. Scanned documents are a problem because transaction data can only be available as a picture.
Docubrew is a powerful software which combines OCR and statement parsing to transform the documents that were scanned into useful financial information. This provides accountants, bookkeepers and business owners a way to convert archival financial documents into useful transactional data.
The result is a straightforward improvement to an otherwise tedious process: use the bank statement as the primary financial record while turning the transaction table into data you are able to work with.