The technology of banking has significantly automatized bookkeeping. However anyone dealing with financial records should be aware that the automated system doesn’t always perform as expected. Bank feeds disconnect, historical transactions may not be accessible or the clients are still sending statements as PDFs. Then, someone has to change a PDF document that was intended for reading into a document that accounting software will actually use.
A converter for your bank statement can remove a lot of the repetitive work required in this process. Docubrew converts bank statements into spreadsheet-ready data, instead of manually entering description, date of withdrawals and deposits row-by-line.
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When a PDF is deemed to be the missing piece
Imagine that a bookkeeper is making an annual reconciliation for a client. The accounting platform contains recent transactions but some older months are missing. Luckily, the client was able to download the original PDF of the statement.
It was once a process of hours of tedious copying into an Excel spreadsheet. A bank statement PDF to Excel workflow offers a more efficient alternative. Docubrew can extract transaction information from digital PDFs, as well as scan bank statements made of paper.
For those who require moving an account statement from a bank to Excel by hand, reducing the manual transcription can also eliminate an unnecessary opportunity for typing mistakes.
Make sure you keep the pages that Actually count
Statements of bank accounts aren’t made up entirely of transactions. A 12-page report could contain the cover page, account summary and disclosures or notifications along with a number of pages of actual transactions at the bank.
Docubrew offers users the ability to see a document’s preview and choose relevant pages to convert. That makes it easier to convert bank statements to Excel without bringing unrelated statement content into the working dataset.
After processing, the file is able to be opened in Excel or re-formatted to work with accounting platforms such as QuickBooks, Xero, and FreshBooks.
CSV Facilitates Flexible Accounting Workflow
CSV can still be useful because it’s supported by spreadsheets and databases. Accounting applications also work with CSV. If you require an account statement converted to CSV, Docubrew produces structured output based on the transaction table within the report.
The same workflow is able to help firms convert bank statements to CSV while rewriting historical books as well as handling a client cleanup project, searching for missing transactions, or preparing information to reconcile.
Accounting firms that must process multiple clients or statements simultaneously may benefit from batch processing.
Financial Documents need to be considered for privacy controls
It’s not the only thing to think about when processing financial records. Bank statements may contain sensitive client information therefore bookkeepers and accountants may also care about the place where they process.
Docubrew provides two options. Windows desktop applications convert files locally on the user’s PC. Users who prefer using a browser-based workflow may opt for the encrypted cloud version which allows uploaded files to be instantly deleted within 24 hours.
The choice of this platform is different from the bank statement Excel software that depends exclusively on remote processing.
Turning Document Archives Back Into Working Data
While PDF statements are excellent records, they’re difficult to utilize when transactions have to be sorted or reconciled. They can’t also be used to import, filter, or re-organize, etc. Scanned files create an additional issue, as the transaction details are typically only available in images.
Docubrew is a solution that combines statements parsing as well as OCR for scanned documents. It offers accountants, bookkeepers and businesspeople a easy way to convert the financial documents of archives into useful transactional information.
The result is an easy improvement to an otherwise monotonous routine: preserve the bank statement as the primary financial record while turning its transactions table into data that you are able to work with.