Banking technology has automated much of the bookkeeping however, anyone who deals with financial records understands that it’s not perfect. The feeds of banks aren’t working, the historical transactions aren’t always available and customers still send statements as PDFs. This means that someone needs to convert a PDF file designed to be read by a reader into something accounting software actually utilizes.
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A bank statement converter can eliminate much of the repetitive work that is involved in this process. Docubrew automates the conversion of information of your bank statement into structured spreadsheet data.
When a pdf becomes the missing element
Imagine a bookkeeper who is creating the year-end reconciling for the first customer. The accounting platform has recent transactions, but several older months are not included. Fortunately the client has downloaded the original PDF statements.
It used to take hours of tedious copying into an Excel spread sheet. A PDF bank statement that is converted to Excel workflow is a much more practical alternative. Docubrew can extract transaction information from digital PDFs, as well as scan bank statements printed on paper.
Manual transcription can be an excellent way to decrease the chance of errors for those who have to transfer bank statements to Excel frequently.
Make sure you keep the pages that matter
Bank statements don’t consist entirely of transactions. A 12-page report could contain an introduction page, a account summary and disclosures or notices as well as several pages of actual transactions in the bank.
Docubrew allows users to view the document and choose the appropriate pages prior to conversion. It is easier to convert bank statement accounts to Excel because the irrelevant contents of the statements aren’t included in your data set.
The file created can be utilized using accounting platforms like QuickBooks, Xero and FreshBooks.
CSV offers a flexible accounting Workflow
CSV remains useful because it is widely used by databases, spreadsheets and accounting applications. Docubrew can convert a bank statement into CSV by referring to its transaction table.
This same process can assist companies convert bank statements to CSV while rewriting historical books or handling a clean-up project, analyzing missing transactions or preparing data to be reconciled.
Batch processing can be particularly advantageous for accounting firms processing multiple statements or clients at the same time.
Financial Documents Should Be viewed with a keen eye for privacy Controls
When processing financial records, convenience is not the only factor to be considered. Bookkeeping and accounting professionals can be concerned about the location of processing because bank statements contain sensitive client information.
Docubrew provides two choices. Its Windows desktop software processes files locally on the computer of the user thus the files aren’t stored for conversion. Users who prefer a browser-based workflow can opt for the cloud version that is encrypted in which uploaded files are instantly deleted within 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
While PDF statements are excellent documents, they’re not ideal to use when transactions have to be sorted or reconciled. They also can’t be imported, filtered, re-organized or re-organized. Scanned documents could be problematic because the information about transactions may only exist as an image.
Docubrew is a solution that combines statements parsing as well as OCR for scanned documents. It offers accountants, bookkeepers, and businesspeople a simple way to transform the financial documents of archives into useful transactional data.
The result is a change of a process that was once tedious and time-consuming. The bank statement will remain as the primary financial record, but its transaction table turns into information you can work with.