The banking technology has greatly automatized bookkeeping. However those who deal with financial records understands that the automated system doesn’t always work. If the feeds from banks aren’t working correctly, the historic transactions might be unavailable and clients might still be sending statements in PDF format. If this happens, someone must convert a document intended for reading into data that accounting software actually use.
Bank statement converters can help you save time by making the process easier. Instead of entering manually dates, descriptions, withdrawals, and deposits row by row Docubrew transforms the information on a statement into a structured spreadsheet ready for use.
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A PDF can become the missing piece
Imagine a bookkeeper preparing the year-end reconciliation for a new customer. The accounting system has recently completed transactions but some older months are not present. Fortunately, the client downloaded the original PDF of the statement.
In the past, re-creating those months would require long hours of copying and paste numbers into a spreadsheet. A PDF bank statement to Excel workflow provides a more practical alternative. Docubrew removes transaction information from scanned paper statements or PDFs that are digital.
A reduced manual transcription process can make it less likely to make mistakes when typing. This is an important advantage for those who need to frequently transfer bank statements into Excel.
Keep the Pages that Matter
Bank statements don’t consist exclusively of transactions. A 12-page report could include a summary of the account as well as disclosures and other notices, as well as a number of pages detailing the actual bank activities.
Docubrew lets users preview the document, and pick the relevant pages before conversion. It is simpler to convert statements from bank accounts to Excel because the unrelated contents of the statement are not included in the working data.
The file created is ready to use by accounting platforms such as QuickBooks, Xero and FreshBooks.
CSV Provides a Flexible Accounting Workflow
CSV can still be useful, as it’s widely supported by spreadsheets and databases. Accounting software also supports CSV. Docubrew can change your bank statement to CSV using the transaction tables within the report.
The same workflow could help firms convert bank statements to CSV while rewriting historical books as well as handling a client cleanup project, looking into missing transactions, or in the process of preparing information for reconciliation.
Accounting firms that must manage multiple accounts or clients at the same time can benefit by batch processing.
The financial documents you use should be protected by careful privacy controls
Processing financial records isn’t solely about ease of use. Bank statements can contain sensitive client data, so accountants and bookkeepers may also care about the location where processing occurs.
Docubrew offers two choices. Its Windows desktop application handles documents locally on the computer of the user and therefore the data isn’t transferred to the cloud for conversion. For those who prefer to work with browsers can opt for the encrypted cloud version which allows uploaded files to be immediately deleted after 24 hours.
This distinction distinguishes the platform from bank statement to Excel software, which relies exclusively on remote processing.
Turning Document Archives Back Into Working Data
The PDF statement is an excellent document, however it’s a pain for those who need to sort, reconcile, filter, or import transactions in other systems. Scanned files add a new complication since the information about transactions might only exist in the form of an image.
Docubrew offers statement parsing in conjunction with OCR support for scanned documents that give bookkeepers, accountants and other businesses a feasible route from archived financial paperwork to usable transaction data.
The result is an easy improvement to a previously tedious procedure: maintain the bank statement as a primary financial record while turning the transactions table into data that you are able to use.