Bank technology has made bookkeeping easier, but those who deal with financial records understand that it’s not ideal. Bank feeds disconnect, historical transactions may be unavailable or the clients are still sending statements in PDF format. If this happens, someone needs to convert a file designed for reading into data that accounting software can utilize.
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A bank statement converter can eliminate much of the repetitive work involved in that process. Instead of entering manually dates description, withdrawals, and deposits row by row, Docubrew converts statements into structured spreadsheet-ready data.
When a PDF becomes the missing piece
Imagine a bookkeeper working on an annual reconciliation for an individual client. The accounting platform includes the most recent transactions, however, several older months are not included. Fortunately that the client downloaded the original PDF reports.
It was once a process of long hours of tedious copying a spread sheet. A PDF bank statement that is converted to Excel workflow is a feasible alternative. Docubrew can extract information about transactions from digital PDFs, as well as scan paper bank statements.
Reduced manual transcription is a great way to reduce the chance of typing mistakes for those who have to transfer bank statements into Excel on a regular basis.
Be sure to keep the pages that Actually Matter
Bank statements do not consist exclusively of transactions. A 12-page statement could include a cover page, account summary, disclosures or other notices and a few pages of bank activity.
Docubrew lets users look at the document before they open it, and then select the appropriate pages prior to conversion. This allows users to convert bank statement data to Excel without the need to add unrelated content.
The final file is ready to be used by accounting platforms such as QuickBooks, Xero and FreshBooks.
CSV Offers a Flexible Accounting Workflow
CSV can still be useful since it’s extensively supported by spreadsheets and databases. Accounting applications can also use CSV. Docubrew can change your bank statement to CSV by using the transaction tables that are contained in the statement.
This same process can assist firms convert bank statements into CSV when reconstructing historical books as well as handling a client cleanup project, investigating missing transactions or preparing information to reconcile.
Accounting firms that must manage multiple accounts or clients simultaneously may benefit from batch processing.
Financial Documents deserve thought-out privacy protections
Processing financial records isn’t only about efficiency. Bookkeeping and accounting professionals might be concerned about the location of processing since bank statements contain sensitive customer information.
Docubrew gives two alternatives. Windows desktop software handles files stored on the computer used by the user, and the statements are not uploaded to be converted. Cloud encryption is available for users who prefer to work in a browser. Files uploaded to the cloud are erased automatically within 24 hours.
This distinction is what differentiates Excel software, which is based solely on remote processing from the platform for bank statements.
Turning Document Archives Back Into Working Data
While PDF statements are excellent records, they are inconvenient to use when transactions need to be sorted or reconciled. They are also not able to be imported, filtered, re-organized, etc. Scanned documents can cause additional complications as the transaction data might only exist as an image.
Docubrew is a combination of statement parsing and OCR support for documents scanned, giving accountants, bookkeepers and companies a practical method of converting financial paperwork that is archived to usable transaction information.
The result is a straightforward improvement to a previously tedious workflow: keep the bank statement as the original financial record and then turn its transactions table into data that you can actually use.