Technology from banks has made bookkeeping more efficient, but those who deal with financial records know that it’s not perfect. Clients are still sending PDF statements, bank feeds might not be working as they should, and historical transactions may not be available. It is then necessary to transform a PDF document intended to be read by a reader into something accounting software can actually read.
A converter for bank statements will reduce the amount of repetitive work involved in that process. Instead of entering manually dates or descriptions, withdrawals and deposits row by row, Docubrew transforms the information on a statement into structured spreadsheet-ready information.
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When a PDF becomes the missing element
Imagine a bookkeeper making the year-end reconciliation for the first customer. The accounting platform includes the most recent transactions, however, several earlier months are not present. Luckily, the client was able to download the original PDF account statement.
The past was when creating these months could take many hours of copying and pasting numbers into spreadsheets. The PDF bank statement to Excel workflow is a more efficient alternative. Docubrew removes transaction information from paper bills that have been scanned or digital PDFs.
Reduced manual transcription can also make it less likely to make mistakes when typing. This is a major advantage for those who need to transfer bank accounts regularly into Excel.
Make sure you keep the pages that Actually are Important
Bank statements aren’t made up of only transactions. A 12-page account statement may contain an account cover page, a cover page summary and disclosures or notices and a few pages of actual bank activity.
Docubrew lets users preview the document and select the relevant pages before conversion. That makes it easier to convert bank statements to Excel without bringing unrelated statement content into the working dataset.
The resulting file is ready to use in conjunction with accounting platforms such as QuickBooks, Xero and FreshBooks.
CSV offers a flexible accounting Workflow
CSV is still in use because it is widely used by databases, spreadsheets as well as accounting applications. Docubrew will convert your bank statement to CSV using the transaction tables contained within the report.
The same workflow could help firms convert bank statements to CSV while rewriting historical books and handling a cleanup project, analyzing missing transactions, or in the process of preparing the data needed to be reconciled.
Accounting firms who need to manage multiple accounts or clients simultaneously may benefit from batch processing.
The financial documents you use should be protected by careful security measures
The convenience factor isn’t the only one to consider when processing financial records. Bookkeeping and accounting professionals could be concerned regarding the location of processing because bank statements contain sensitive details about the client.
Docubrew offers two options. Windows desktop application converts files locally on the user’s computer. Users who prefer browser-based workflows are able to select the encrypted cloud option. Files uploaded are automatically deleted after 24 hours.
This distinction is what differentiates Excel software, which relies exclusively on remote processing, from the bank statement platform.
Turning Document Archives Back Into Working Data
PDF statements make excellent records, but they’re inconvenient when transactions need to be reconciled, sorted, filtering, or transferred to another. Scanned files add an additional problem, since the transaction details are typically only accessible in images.
Docubrew is a powerful software that combines OCR and statement parsing in order to convert document scans into usable financial information. This provides accountants bookkeepers, and business owners the ability to convert archival financial documents into useful transactional information.
The result is an improvement of a process that was once tedious The bank statement is still used as the original financial record, but its transaction table transforms into data that you can use.
