Banking technology has streamlined the bookkeeping process in a lot of ways however anyone working with financial records knows that it’s not perfect. The feeds for banks aren’t functioning properly, and the historical transactions may not be available, and customers may be unable to send documents in PDF format. In the end, someone must transform a PDF document intended for reading into a document that accounting software actually uses.
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A bank statement converter can eliminate much of the repetitive work involved in that process. Instead of entering manually dates and descriptions, withdraws, and deposits row-by-row, Docubrew converts information from the statement into a spreadsheet format that is ready to be used.
When a PDF Becomes the Missing Piece
Imagine a bookkeeper who is working on the year-end reconciliation of a new customer. The accounting platform shows recent transactions, but a few older months are missing. Luckily, the client has downloaded the original PDF report.
The past was when creating these months could take many hours of copying and pasting numbers into spreadsheets. A PDF bank statements to Excel workflow provides a more efficient alternative. Docubrew accepts digital PDFs and scanned paper statements and extracts the transaction information to be used in spreadsheets.
The reduction of manual transcription is a great way to reduce the risk of errors in typing for professionals who need to transfer bank statements into Excel regularly.
Be sure to keep the pages that Actually Are Important
Statements from banks don’t contain only transactions. A 12-page document might contain the cover sheet, account overview, disclosures, notices and a few pages of bank transactions.
Docubrew allows users to preview the document, and then select the relevant pages before conversion. This allows users to convert bank statements into Excel without having to import unrelated statement data into the working dataset.
Once the file has been processed the file can then be opened using Excel or used with accounting platforms like QuickBooks, Xero, FreshBooks and many more.
CSV Facilitates Flexible Accounting Workflow
CSV remains useful since it’s extensively supported by spreadsheets and databases. Accounting applications also support CSV. If you require an account statement converted to CSV, Docubrew produces structured output based on the transaction table contained within the report.
The same process helps businesses convert bank statements to CSV, regardless of whether they are recovering historical records, managing a cleanup project for new clients, researching missing transaction, or preparing data in preparation for reconciliation.
The batch processing process is particularly advantageous for accounting firms who are working with multiple statements or clients at a time.
Financial Documents deserve thought-out privacy safeguards
When processing financial records efficiency is not the only factor to be considered. Bookkeeping and accounting professionals could be concerned about the processing location since bank statements contain sensitive details about the client.
Docubrew offers two options. Its Windows desktop software processes documents locally on the user’s PC, so the statements aren’t uploaded for conversion. Users who prefer a browser-based workflow can select the cloud encryption option which allows uploaded files to be immediately deleted after 24 hours.
This distinction is what differentiates Excel software, which relies exclusively on remote processing, from the bank statement platform.
Turning Document Archives Back Into Working Data
PDF statements make excellent documents, but they’re not the most convenient when transactions have to be reconciled, sorted, filtered, or imported elsewhere. Scanned documents could be problematic since transaction data could only be present as a picture.
Docubrew is a combination of statement parsing and OCR support for scanned documents accounting professionals, bookkeepers, and businesses a practical path from financial paperwork stored in archives to usable transaction information.
This simple remedy can help speed up the efficiency of a lengthy process by keeping the bank statement that was originally issued while the transaction table is converted to information that you can utilize.
