The technology of banking has automated many bookkeeping tasks However, anyone who has to work in the field of financial records is aware that it’s not perfect. Clients continue to send statements in PDF format, feeds from banks may not work as they should, and historical transactions may not be accessible. Someone has to convert a document that was designed to be read into the data that accounting software actually works with.
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Converting bank statements can help you save time by automatizing the process. Instead of manually entering dates description, withdrawals, and deposits row-by-row, Docubrew transforms the information on a statement into a spreadsheet format that is ready to be used.
When a PDF becomes the missing piece
Imagine that a bookkeeper preparing an annual reconciliation for an individual client. The accounting platform contains latest transactions, however, a number of earlier months are not present. The client downloaded the original PDF statements.
It was once a process of many hours of grueling copying an Excel spreadsheet. A PDF bank statement that is converted to Excel workflow is an effective alternative. Docubrew accepts digital PDFs and scans of paper statements, and then extracts the information about transactions for spreadsheet use.
For professionals who often require the transfer of the bank’s statement into Excel and reduce manual transcription also removes the possibility of typing errors.
Save the Pages that Actually Matter
Statements of bank accounts aren’t made up entirely of transactions. A 12-page statement could contain a summary of the account, disclosures and notices along with several pages describing actual banking activities.
Docubrew allows users to preview the document and choose the relevant pages before conversion. It makes it much easier for bank statements to be converted to Excel without having to import unrelated statement content into the working dataset.
The final file is ready to be used with accounting platforms like QuickBooks, Xero and FreshBooks.
CSV provides a flexible Accounting Workflow
CSV is still useful since it’s extensively supported by databases and spreadsheets. Accounting software also supports CSV. Docubrew will transform your bank statement into CSV using the transaction tables that are contained in the statement.
This same process is used by firms to convert bank statements to CSV, whether they are rebuilding old records, coordinating a cleanup project for new clients, looking into the missing transaction, or even preparing information for reconciliation.
Accounting firms that have to process multiple clients or statements at the same time can benefit from batch processing.
The financial documents you use should be protected by careful privacy controls
When processing financial records, security isn’t the only factor to be considered. Bookkeepers and accountants may be concerned about the location where they are processing financial records.
Docubrew offers two options. Windows desktop software processes files on the personal computer of the user. However, the statements cannot be uploaded to be transformed. The cloud version that is encrypted is accessible to those who prefer working from a browser. Uploads are erased automatically 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
PDF statements are fantastic documents, but they’re not ideal when transactions must be sorted, reconciled, filtered, or imported elsewhere. Scanned documents add another complication since the transaction details might only exist as an image.
Docubrew is an effective program that blends OCR and statement parsing to transform scans of documents into useful financial data. This gives accountants, bookkeepers, and business owners the ability to convert financial records that are archival into useful transactional information.
This simple fix can speed up the process of keeping the bank statement that was originally issued while converting its transaction table to data that you can use.