Technology in banks has made a lot of bookkeeping simpler, but those who deal with financial records are aware that it’s not ideal. The feeds for banks aren’t working correctly, the historic transactions may not be available, and clients might still be sending statements in PDF format. In the end, someone must change a PDF document that was that is intended for reading into a document that accounting software can actually read.
A converter for bank statements can eliminate much of the repetitive work involved in that process. Docubrew converts bank statements into spreadsheet-ready information, rather than manually entering date, description, withdrawals and deposits row by line.
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When a pdf becomes the missing piece
Imagine that a bookkeeper preparing an annual reconciliation for an individual client. The accounting platform has recent transactions, but several earlier months are not present. The client had downloaded original PDF statements.
The past was when re-creating the months of those years would have required many hours of copying and pasting numbers into spreadsheets. A PDF bank statement that is converted to Excel workflow is a better option. Docubrew accepts digital PDFs and scanned paper statements and extracts the transaction details to be used in spreadsheets.
Manual transcription that is less laborious can decrease the risk of errors in typing. This is an important benefit for those working in the field who have to regularly move bank statements into Excel.
Make sure you keep the pages that Actually are Counting
Bank statements are not only of transactions. A 12-page report could contain a cover sheet, account summary, disclosures and notices, and several pages of actual banking activity.
Docubrew lets users preview the document, and pick the relevant pages before conversion. It is easier to convert bank statements accounts to Excel because the contents that are not related to the bank account of the statements aren’t included in your working dataset.
After the file has been processed the file can then be opened using Excel or integrated into accounting platforms such as QuickBooks, Xero, FreshBooks and many more.
CSV Facilitates Flexible Accounting Workflow
CSV remains popular since spreadsheets as well as accounting software, databases and spreadsheets allow it. If you need a bank statement to CSV, Docubrew produces structured output based on the transaction table contained in the statement.
The same process is employed to transform bank statements into CSV for a variety of reasons, such as reconstructing historical books, taking on a project to clean up the client database that is not being used, analyzing gaps in transactions, or preparing the information to be used in reconciliation.
Accounting firms who need to handle multiple client statements or clients at once can benefit from batch processing.
Financial Documents require careful consideration of privacy protections
Processing financial records isn’t just about convenience. Accounting and bookkeeping professionals may be concerned about the processing location as bank statements are confidential details about the client.
Docubrew provides two approaches. Its Windows desktop software processes documents locally on the user’s PC thus the files aren’t uploaded for conversion. For those who prefer workflows based on browsers, they are able to select the encrypted cloud option, where uploaded files will be deleted automatically after 24 hours.
This distinction distinguishes the platform from the bank statement Excel software that relies solely on remote processing.
Turning Document Archives Back Into Working Data
PDF statements are fantastic documents, however they can be a hassle when transactions must be reconciled, sorted out, filtering, or transferred to another. Scanned files create an additional problem, since the details of transactions are usually only accessible in images.
Docubrew is an effective tool that uses OCR and statement parsing in order to convert the documents that were scanned into useful financial data. This provides accountants bookkeepers and business owners the chance to transform archival financial records into valuable transactional data.
The result is a straightforward improvement to an already tedious workflow: keep the bank statement as the initial financial record, while transforming its transaction table into information you are able to use.