The technology of banking has automated many bookkeeping tasks However, anyone who has to work in financial records will tell you that automation isn’t 100% perfect. The feeds for banks aren’t functioning properly, and the historical transactions might be unavailable and clients could still send documents in PDF format. This means that someone needs to alter a PDF document that is intended to be read into a format that accounting software actually uses.
Converting bank statements can help you cut down on time by making the process easier. Docubrew instantly converts the data from your bank statements into structured spreadsheet information.
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When a PDF is the Missing Piece
Imagine that a bookkeeper preparing an annual reconciliation for the client. The accounting platform contains recent transactions but some older months are not present. Luckily, the client downloaded the original PDF account statement.
It was once a process of many hours of grueling copying an Excel spreadsheet. A PDF bank account statement to Excel workflow is a suitable alternative. Docubrew can extract transaction information from digital PDFs and scan bank statements on paper.
For professionals who often require the transfer of an account statement from a bank to Excel by hand, reducing the manual transcription also removes the potential for mistakes in typing.
Keep the Pages That Actually are Important
Bank statements don’t consist exclusively of transactions. A 12-page document may include a cover page, account overview, disclosures, or notices as well as a variety of pages of actual banking activity.
Docubrew offers users the ability to preview a document and select the appropriate pages for conversion. That makes it easier to convert bank statements to Excel without bringing unrelated statement content into the working dataset.
After processing, the document can be opened using Excel or made ready for use with accounting platforms, such as QuickBooks, Xero, and FreshBooks.
CSV Offers a Flexible Accounting Workflow
CSV remains popular because spreadsheets, databases and accounting software are compatible with CSV because they are compatible with spreadsheets, databases and accounting software. Docubrew can convert your bank statement to CSV by using the transaction tables included within the report.
This same workflow is utilized to convert bank statements into CSV to serve a variety of reasons, including rewriting historical books, tackling projects to clear unutilized client data, looking into missing transactions, or even preparing the data for reconciliation.
Accounting firms who need to handle multiple client statements or clients simultaneously can benefit by batch processing.
Financial documents should be treated with care and privacy safeguards
Processing financial records is not solely about convenience. Bookkeeping and accounting professionals can be concerned about the location of processing because bank statements contain confidential customer information.
Docubrew has two choices. Windows desktop applications convert files locally, on the user’s computer. Users who prefer browser-based workflows can select the encrypted cloud option. Files uploaded are automatically deleted after 24 hours.
The platform can be anything from Excel software to bank statements which rely exclusively on remote processing.
Turning Document Archives Back Into Working Data
PDF statements are fantastic documents, however they can be a hassle when transactions must be reconciled, sorted out, filtered, or imported elsewhere. Scanned documents can cause additional complications since the information about transactions can only be present as an image.
Docubrew is a blend of statement parsing and OCR for documents that have been scanned. It gives accountants, bookkeepers and businesspeople a simple method of transforming archival financial documentation into actionable transactional data.
The result is a change in a process that was previously tedious as the bank statement continues as the primary financial record, but its transaction table turns into information you can work with.