The technology of banking has automated many bookkeeping tasks however, anyone who deals with financial records knows that automation isn’t always perfect. Clients continue to send PDF statements, bank feeds may not work as they should, and historical transactions may not be available. It is then necessary to alter a PDF document that is intended for reading into a document that accounting software actually uses.
A converter for bank statements will take away a significant portion of the repetitive work involved in that process. Instead of manually entering dates and descriptions, withdraws, and deposits row by row Docubrew converts statement information into structured spreadsheet-ready information.
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When a PDF is deemed to be the missing piece
Imagine a bookkeeper who is working on the year-end reconciliation of a new customer. The accounting software shows the most recent transactions, but some older months were left out. Fortunately clients have downloaded the original PDF statements.
In the past, rewriting the previous months can take many hours of copying figures into an Excel spreadsheet. A bank statement in PDF format to Excel workflow provides a better option. Docubrew can extract information about transactions from digital PDFs, as well as scan bank statements made of paper.
Reduced manual transcription is a great method to cut down the chance of typing mistakes for professionals who need to transfer bank statements into Excel frequently.
Keep the Pages That Actually Matter
Bank statements do not consist only of transactions. A 12-page report could contain an introduction page, a account overview, disclosures, or notices along with a number of pages of actual transactions in the bank.
Docubrew lets users view the document and pick the relevant pages prior to conversion. That makes it easier to convert bank statements to Excel without bringing unrelated statement content into the working dataset.
The resultant file can be utilized using accounting platforms like QuickBooks, Xero and FreshBooks.
CSV Provides Flexible Accounting Workflow
CSV remains popular because spreadsheets as well as accounting software, databases and spreadsheets are compatible with it. Docubrew can transform bank statements into CSV based on its transaction table.
The same process is employed to convert bank statements to CSV for a number of purposes, including reconstructing old books, working on an undertaking to cleanse unutilized client data, looking into missing transactions or preparing the data to be used in reconciliation.
Processing in batches can be especially useful for accounting firms who are who are working with multiple statements or clients at the same time.
Financial Documents Should Be viewed with a keen eye for privacy Controls
When processing financial records, convenience is not the only consideration. Bookkeepers and accountants can also be concerned with the place they work from to process financial records.
Docubrew offers two options. Windows desktop software processes files on the computer of the user. However, the statements aren’t uploaded to be converted. If you prefer a browser-based workflow can opt for the cloud version that is encrypted that allows for uploading files to be immediately deleted after 24 hours.
The platform could range from Excel software to bank statements that rely exclusively on remote processing.
Turning Document Archives Back Into Working Data
While PDF statements can be excellent documents, they’re not ideal to utilize when transactions have to be reconciled or sorted. They also can’t be moved, changed, or filtered and so on. Scanned files add an additional problem, since the details of transactions are usually only accessible in images.
Docubrew offers a combination of statement parsing and OCR for scanned documents. It gives accountants bookkeepers, and businesspeople easy method to convert archival financial documentation into actionable transactional information.
The result is an easy improvement to a previously tedious workflow: keep the bank statement as the initial financial record while turning its transaction table into information you can actually work with.