The advancement of technology in banking has made a lot of bookkeeping more efficient, but those who work with financial records are aware that it’s not perfect. The feeds for banks aren’t functioning properly, and the historical transactions might not be accessible, and clients may still send statements in the format of PDF. Then, someone has to alter a PDF document meant for reading into something that accounting software actually uses.
Converting bank statements can help you save time by automating the process. Docubrew automatically converts the information of your bank statement into structured spreadsheet data.
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When a PDF becomes the missing piece
Imagine that a bookkeeper making an annual reconciliation for a client. The accounting system shows the most recent transactions, but some older months are missing. Luckily, the client was able to download the original PDF statement.
The past was when re-creating the months of those years would have required long hours of copying and paste numbers into a spreadsheet. A PDF bank statement to Excel workflow provides a more practical alternative. Docubrew can extract information about transactions from digital PDFs, as well as scan bank statements on paper.
Reduced manual transcription can also decrease the risk of errors in typing. This is an enormous benefit for professionals that need regularly transfer bank statements into Excel.
Be sure to keep the pages that matter
Bank statements do not consist only of transactions. A 12-page account statement may include a brief description of the account as well as disclosures and other notices, and a few pages of information about the actual bank activities.
Docubrew lets users preview the document, and select the relevant pages prior to conversion. That makes it easier to convert bank statements into Excel without adding unrelated statements contents into the working data.
The resultant file is ready to use with accounting platforms like QuickBooks, Xero and FreshBooks.
CSV allows for a variety of accounting workflow
CSV is still useful and is widely used by databases and spreadsheets. Accounting applications also support CSV. Docubrew can convert bank statements into CSV by referring to the table of transactions.
This same workflow is utilized to convert bank statements to CSV for a variety of uses, including the reconstruction of historical books, taking on projects to clear the client database that is not being used, analyzing missing transactions, or even preparing the information to be used in reconciliation.
Accounting firms who need to process a variety of clients or statements at the same time can benefit by batch processing.
Financial documents should be treated with care and privacy protections
When processing financial records, efficiency is not the only factor to be considered. Bookkeepers and accountants could be also concerned about the location where they manage financial records.
Docubrew has two methods. Windows desktop software converts files locally, and on the user’s computer. The cloud version with encryption is available for users who prefer working with browsers. Uploads are removed automatically after 24 hours.
That choice distinguishes the platform from the bank statement Excel software that depends exclusively on remote processing.
Turning Document Archives Back Into Working Data
Although PDF statements are great records, they’re difficult to utilize when transactions need to be sorted or reconciled. Also, they aren’t able to be transferred, processed, re-organized or re-organized. Scanned files create an additional issue, as the information about transactions is usually only available in images.
Docubrew combines statement parsing with OCR support for scanned documents, giving accountants, bookkeepers as well as businesses a practical method of converting financial paperwork that is archived into usable transaction data.
This simple solution improves an inefficient workflow by preserving the original bank statement while changing its transaction table into information that you can utilize.