The banking technology has greatly automated bookkeeping. However anyone dealing with financial records knows that the automated system doesn’t always perform as expected. Feeds from banks stop working, and historical transactions may not be accessible and customers still send statements in PDF format. When that happens, somebody must transform a document intended for reading into data that accounting software can actually use.
A bank statement converter can reduce the amount of repetitive work required in this process. Instead of entering manually dates description, withdrawals, and deposits row by row Docubrew converts statements into structured spreadsheet-ready data.
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A PDF can be the missing component
Imagine a bookkeeper is preparing a year-end reconciliation for a new client. The accounting platform has some recent transactions, but a few older months are missing. Fortunately, the client has downloaded the PDF of the previous statements.
In the past, rewriting those months could involve long hours of copying numbers into a spreadsheet. The PDF bank statement to Excel workflow offers a viable alternative. Docubrew accepts electronic PDFs as well scans of paper statements, and extracts the transaction details for spreadsheet use.
For professionals who often require moving statements from banks to Excel and reduce manual transcription eliminates the possibility of mistakes in typing.
Make sure you keep the pages that Actually Relevant
The bank statements aren’t just composed of transactions. A 12-page paper could have an account summary, disclosures, or notices as well as a number of pages of actual transactions.
Docubrew lets users to look at a document before they select the appropriate pages for conversion. It is easier to convert bank statements accounts to Excel since the non-related details of the account statement are not included in your working dataset.
After the file has been processed after processing, it can be opened using Excel or utilized in accounting platforms like QuickBooks, Xero, FreshBooks, etc.
CSV Facilitates Flexible Accounting Workflow
CSV remains useful because it is widely supported by databases, spreadsheets as well as accounting applications. If you need a bank statement to CSV, Docubrew produces structured output based on the transaction table contained in the statement.
The same workflow can help firms convert bank statement to CSV when reconstructing historical books, handling a new-client cleanup project, investigating missing transactions, or preparing data for reconciliation.
Processing in batches can be especially advantageous for accounting firms who are working with multiple statements or clients at once.
Financial documents require careful privacy controls
When processing financial records convenience is not the only consideration. Accountants and bookkeepers might also be concerned with the location in which they process financial records.
Docubrew offers two options. Windows desktop application converts files locally, on the user’s computer. People who prefer workflows that are based on browsers can opt for the encrypted cloud option, in which uploaded files are automatically deleted within 24 hours.
The choice of this platform is different from bank statement to Excel software that relies solely on remote processing.
Turning Document Archives Back Into Working Data
The PDF statement can be a useful record, but it’s a hassle for those who need to reconcile, sort and filter transactions in other systems. Scanned documents add an extra complexity, since the transaction details are typically only available in pictures.
Docubrew is a combination of statement parsing and OCR support for documents scanned, giving accountants, bookkeepers and other businesses a feasible way to convert financial documents that are archived to a usable set of transactional data.
The result is a straightforward improvement to an already tedious process: use the bank statement as the original financial record while turning its transactions table into data that you are able to work with.