Technology from banks has made a lot of bookkeeping tasks easier, however those who deal with financial records are aware that it’s not ideal. Feeds from banks stop working, and historical transactions might not be available, and clients still send statements in PDF. It is then necessary to alter a PDF document that is intended to be read into a format that accounting software can actually read.
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Converting bank statements will help you save time by automatizing the process. Docubrew transforms bank statement data into spreadsheet-ready data, instead of manually entering date, description of withdrawals and deposits row by line.
When a PDF is the Missing Piece
Imagine that a bookkeeper is working on an annual reconciliation for an individual client. The accounting system shows the most recent transactions, but a few older months have been left out. The client had downloaded the Original statements as PDF.
Traditionally, re-building in those months may require long hours of copying numbers into an Excel spreadsheet. A bank statement PDF to Excel workflow is a much more efficient alternative. Docubrew removes transaction information from paper bills that have been scanned or PDFs that are digital.
The reduced amount of manual transcription will also decrease the risk of mistakes in typing, which is a big advantage for those who need regularly transfer bank statements into Excel.
Keep the Pages That Matter
Bank statements aren’t made up of only transactions. A 12-page document might contain a cover sheet, an account summary, disclosures, or notices and a few pages of the actual bank activity.
Docubrew lets users view the document and then select the appropriate pages before conversion. It is much easier to convert bank statements accounts to Excel because the contents that are not related to the bank account of the account statement are not included in your data set.
After processing, the file can then be opened in Excel or made ready for use using accounting software such as QuickBooks, Xero, and FreshBooks.
CSV Offers a Flexible Accounting Workflow
CSV remains popular since spreadsheets as well as accounting software, databases and spreadsheets are compatible with it. Docubrew can transform bank statements into CSV by referring to its transaction table.
The same workflow could help companies convert bank statements to CSV for the purpose of re-constructing historical books and handling a cleanup project, searching for missing transactions, or creating the data needed for reconciliation.
Accounting firms that must process a variety of clients or statements simultaneously may benefit from batch processing.
Financial documents require careful security measures
Processing financial records is not just about the convenience. Bookkeepers and accountants may be concerned about the location they use to process financial records.
Docubrew has two alternatives. Windows desktop software handles files stored on the personal computer of the user. The statements cannot be uploaded to be converted. Users who prefer workflows using browsers can choose the cloud encrypted option. Files uploaded will be automatically deleted after 24 hours.
That choice distinguishes the platform from bank statement to Excel software that depends exclusively on remote processing.
Turning Document Archives Back Into Working Data
The PDF statement is a great record, but it’s a hassle when you have to reconcile, sort and filter transactions from other sources. Scanned documents could be problematic since transaction data could only be present as an image.
Docubrew is a powerful program that combines OCR and statement parsing to turn document scans into usable financial information. This gives accountants, bookkeepers, and business owners the chance to convert financial records that are archival into useful transactional data.
The result is a straightforward improvement to an already tedious routine: preserve the bank statement as the primary financial record while turning its transaction table into information you are able to use.
