Technology from banks has made a lot of bookkeeping simpler, but people who handle financial records understand that it’s not ideal. In the case of feeds from banks, transactions aren’t always available, and clients still send statements in PDF. It is then necessary to convert a PDF file intended for reading into a document that accounting software actually uses.
Utilizing a bank statement converter will reduce the time-consuming work. Instead of entering manually dates description, withdrawals, and deposits row by row, Docubrew converts statement information into a spreadsheet format that is ready to be used.
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If a PDF ends up being the missing piece
Imagine a bookkeeper making an annual reconciliation for an unnamed client. The accounting system shows the most recent transactions, but a few older months were left out. The client downloaded original PDF statements.
Typically, rewriting during those times could require hours of copying figures into a spreadsheet. A PDF bank statement to Excel workflow provides a more practical alternative. Docubrew removes transaction information from paper bills that have been scanned or PDFs that are digital.
For professionals who often require the transfer of the bank’s statement into Excel to be processed manually, eliminating manual transcription can also eliminate the possibility of typing mistakes.
Be sure to keep the pages that matter
The bank statements aren’t just composed of transactions. A 12-page statement could include the cover sheet, account summary, disclosures and notices as well as a number of pages of the actual bank activity.
Docubrew allows users to view the document, and then select the relevant pages before conversion. This makes it easy to convert bank statements to Excel without having to add unrelated content.
The resulting file is ready to use by accounting platforms such as QuickBooks, Xero and FreshBooks.
CSV offers a flexible accounting workflow
CSV is popular because spreadsheets such as databases, accounting software and spreadsheets support it. If you require a bank statement that you can convert to CSV, Docubrew produces structured output based upon the transaction table within the report.
This same process can assist firms convert bank statements to CSV for the purpose of re-constructing historical books, handling a new-client cleanup project, analyzing missing transactions or preparing details to reconcile.
Accounting firms that need to deal with clients or multiple statements can benefit from batch processing.
Financial Documents Deserve Thoughtful Privacy Controls
Processing financial records is not solely about efficiency. Accountants and bookkeepers might also be concerned with the place they work from to are processing financial records.
Docubrew uses two different methods. Windows desktop applications convert files locally, and on the user’s computer. The cloud version with encryption is available to those who prefer to work in a browser. Files uploaded are deleted automatically within 24 hours.
This feature is what differentiates Excel software, which relies entirely on remote processing from the platform for bank statements.
Turning Document Archives Back Into Working Data
While PDF statements can be excellent records, they’re difficult to utilize when transactions need to be reconciled or sorted. They can’t also be imported, filtered, re-organized, etc. Scanned documents can cause additional complications since the transaction details might only exist in the form of an image.
Docubrew is an effective program that combines OCR and statement parsing to turn scans of documents into useful financial information. This offers accountants, bookkeepers, and business owners the opportunity to convert archival financial documents into valuable transactional data.
The result is a change of a procedure which was previously cumbersome as the bank statement continues as the primary financial record but the transaction table turns into information you can work with.