The technology of banking has automated many bookkeeping tasks however, anyone who deals in the field of financial records is aware that automation isn’t perfect. The feeds for banks aren’t working properly, the historical transactions might be unavailable and clients may still send documents in the format of PDF. It is necessary to convert a document that was designed to be read into information that accounting software actually uses.
Bank statement converters can save you time by making the process easier. Docubrew converts bank statement information into spreadsheet-ready information instead of manually entering dates, descriptions deposits, withdrawals row by line.
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If a PDF is the missing piece
Imagine that a bookkeeper is working on an annual reconciliation for clients. The accounting software shows the most recent transactions, but some of the older years have been left out. The client downloaded the Original statements as PDF.
Traditionally, re-building the previous months can take many hours of copying figures into the spreadsheet. The PDF bank statement to Excel workflow offers a more practical alternative. Docubrew can extract information about transactions from digital PDFs as well as scanned bank statements made of paper.
For professionals who regularly require the transfer of an account statement from a bank to Excel and reduce manually transcribed statements also eliminates the chance of typing errors.
Be sure to keep the pages that matter
The bank statements aren’t only transactions. A 12-page document might contain a cover sheet, account overview, disclosures, notices as well as a number of pages of actual transactions.
Docubrew allows users to view the document before deciding on the appropriate pages prior to conversion. It is simpler to convert bank statements accounts to Excel because the contents that are not related to the bank account of the statement are not included in your working dataset.
Once the file has been processed after processing, it can be opened using Excel or used with accounting platforms like QuickBooks, Xero, FreshBooks and more.
CSV provides a flexible Accounting Workflow
CSV remains popular since spreadsheets such as databases, accounting software and spreadsheets are compatible with it. If you require the bank statement in CSV, Docubrew produces structured output based on the transactions table that is within the report.
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 need to work with multiple statements or clients can use batch processing to their advantage.
Financial Documents Need Considerate Privacy Controls
Processing financial records is not only about the convenience. Bookkeeping and accounting professionals could be concerned about the processing location because bank statements contain confidential client data.
Docubrew comes with two ways to process data. Its Windows desktop application processes files locally on the user’s computer and therefore the data isn’t uploaded for conversion. Cloud encryption is accessible to those who prefer to work in browsers. Files uploaded to the cloud are removed automatically after 24 hours.
This choice is what separates Excel software, which relies entirely on remote processing from the platform for bank statements.
Turning Document Archives Back Into Working Data
The PDF statement is a fantastic record, but it’s a hassle for those who need to sort, reconcile or filter transactions from another. Scanned documents create a further complication since the information about transactions might only exist in the form of an image.
Docubrew is an effective program that combines OCR and statement parsing in order to convert the documents that were scanned into useful financial data. This provides accountants bookkeepers, and business owners a way to turn archival financial paperwork into valuable transactional data.
This simple fix can speed up the efficiency of a lengthy process by keeping the original bank statement, while converting its transaction table to information that you can utilize.