Banking technology has helped automate the bookkeeping process in a lot of ways however, anyone who deals with financial records knows that automation isn’t perfect. Feeds from banks stop working, and historical transactions may be unavailable or the clients are still sending statements in PDF. Someone has to convert a document that was intended to be read by a computer into the data that accounting software actually uses.
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A bank statement converter can eliminate much of the repetitive work involved in that process. Docubrew automatically converts the information from your bank statements into structured spreadsheet information.
When a PDF is the Missing Piece
Imagine a bookkeeper creating an annual reconciliation to clients. The accounting platform includes recent transactions, but several older months are missing. The client had downloaded original statements in PDF format.
It was once a process of hours of tedious copying into the spread sheet. A PDF bank statements to Excel workflow is a more suitable alternative. Docubrew accepts digital PDFs, as well as printed paper statements that are scanned and then extracts the information about transactions to be used in spreadsheets.
Manual transcription that is less laborious can make it less likely to make mistakes when typing. This is an important advantage for those who need to regularly move bank statements into Excel.
Be sure to keep the pages that Actually are Counting
The bank statements aren’t only transactions. A 12-page account statement may include an overview of the account information, disclosures and notifications and a few pages of information about the actual bank activities.
Docubrew lets users to preview a document and select the appropriate pages for conversion. This allows users to convert bank statement data to Excel without adding unrelated statements content into the working dataset.
Once processed, the resulting file can then be opened in Excel or made ready for use with accounting software platforms like QuickBooks, Xero, and FreshBooks.
CSV Offers a Flexible Accounting Workflow
CSV is still useful since it is widely used by databases, spreadsheets as well as accounting applications. Docubrew will convert your bank statement to CSV by using the transaction tables in the statement.
This same process is used by firms to convert bank statements to CSV. It is useful whether making historical records from scratch, handling an ongoing cleanup project for new clients, analyzing missing transactions, or creating data in preparation for reconciliation.
Accounting firms that have to manage multiple accounts or clients at once can benefit by batch processing.
The financial documents you use should be protected by careful privacy safeguards
Processing financial records is not solely about convenience. Bank statements could contain sensitive client data therefore bookkeepers and accountants could also consider where processing takes place.
Docubrew gives two methods. Windows desktop software handles files stored on the computer of the user. These statements are not uploaded to be converted. Users who prefer working with a browser opt for the cloud version that is encrypted, where uploaded files are completely deleted after 24 hours.
This is the reason Excel software stands out Excel software, which relies solely on remote processing from the platform for bank statements.
Turning Document Archives Back Into Working Data
The PDF statement is a great record, but it’s a hassle for those who need to sort, reconcile filters, sort, or import transactions from another. Scanned documents add an extra problem, since the information about transactions is usually only available in images.
Docubrew integrates statement parsing and OCR support for documents scanned, giving accountants, bookkeepers, and businesses a practical way to convert financial documents that are archived into usable transaction data.
This simple method can improve the efficiency of a lengthy process by keeping the original bank statement, while making its transaction table available to data you can use.