The banking technology has greatly automated bookkeeping. However anyone who handles financial records understands that automated systems don’t always work. Clients still send PDF statements, bank feeds aren’t working as they should, and historical transactions may not be available. When that happens, somebody must transform a document designed for reading into data that accounting software can utilize.
Bank statement converters can save you time by making the process easier. Instead of entering manually dates description, withdrawals, and deposits row by row, Docubrew converts statement information into a structured spreadsheet ready for use.
Image credit: docubrew.com
When a PDF Becomes the Missing Piece
Imagine a bookkeeper is preparing an annual reconciliation for an unnamed client. The accounting system shows the most recent transactions, but some months from the past were left out. Fortunately, the client downloaded the original PDF of the statement.
It was once a process of long hours of tedious copying the spread sheet. The bank statement in PDF format to Excel workflow offers a viable alternative. Docubrew collects data about transactions from scanned paper statements or digital PDFs.
The reduced amount of manual transcription will also decrease the risk of typing errors, which is an important advantage for those who need to regularly move bank statements into Excel.
Save the Pages that Actually Relevant
Bank statements don’t consist exclusively of transactions. A 12-page statement could include an introduction page, a account summary and disclosures or notifications along with a number of pages of transactions in the bank.
Docubrew allows users to preview a document and choose the relevant pages to convert. It is easier to convert bank statements accounts to Excel because the unrelated contents of the statements aren’t included in your working dataset.
The final file is ready to be used using accounting platforms like QuickBooks, Xero and FreshBooks.
CSV offers a flexible accounting workflow
CSV can still be useful because it’s supported by databases and spreadsheets. Accounting applications also support CSV. Docubrew will convert your bank statements to CSV using the transaction tables included in the statement.
The same workflow can help firms convert bank statement to CSV when reconstructing historical books, handling a new-client cleanup project, investigating missing transactions, or preparing data for reconciliation.
Accounting firms that must handle multiple client statements or clients simultaneously may benefit by batch processing.
Financial Documents Should Be viewed with a keen eye for privacy Controls
It’s not the only thing to think about when processing financial records. Bank statements may contain sensitive client data Bookkeepers and accountants are also concerned about where processing takes place.
Docubrew gives two methods. Windows desktop software is used to process files stored on the computer of the user. These statements do not need to be uploaded in order to be converted. If you prefer using a browser-based workflow may opt for the encrypted cloud version which allows uploaded files to be automatically deleted within 24 hours.
The platform may range from Excel software to bank statements based solely on remote processing.
Turning Document Archives Back Into Working Data
PDF statements are fantastic documents, however they can be a hassle for transactions that need to be sorted, reconciled filtering, or transferred to another. Scanned documents can cause additional complications because the transaction information could only be available in the form of an image.
Docubrew integrates statement parsing and OCR support for documents scanned accounting professionals, bookkeepers and companies a practical route from archived financial paperwork to a usable set of transactional data.
This results in a boost of a procedure which was previously cumbersome: the bank statement remains as the original financial record and its transaction table transforms into data that you can work with.
