The advances in technology for banking have significantly automatized bookkeeping. However those who deal with financial records knows that the automated system doesn’t always perform as expected. When the bank feeds aren’t functioning properly, and the historical transactions might not be accessible, and clients could still send documents in PDF format. If that happens, someone must convert a document specifically designed for reading data into a format that accounting software can utilize.
The use of a statement converter can decrease the amount of repetitive work needed. Docubrew will convert the information from your bank statements into structured spreadsheet data.
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When a PDF Becomes the missing piece
Imagine that a bookkeeper working on an annual reconciliation for a client. The accounting platform shows the most recent transactions, however a few older months are missing. Luckily, the client has downloaded the original PDF report.
In the past, creating these months could take long hours of copying and paste numbers into a spreadsheet. A PDF bank statement in Excel workflow offers a more convenient alternative. Docubrew accepts digital PDFs, as well as scanned paper statements and extracts the transaction information for spreadsheet use.
Reducing manual transcription is also an effective way to lower the risk of errors in typing for professionals who need to transfer bank accounts to Excel regularly.
Be sure to keep the pages that matter
Bank statements aren’t composed entirely of transactions. A 12-page account statement may include a brief description of the account, disclosures and notices as well as a number of pages detailing the actual activities of banking.
Docubrew lets users to look at a document before they select relevant pages for conversion. It is simpler to convert statements from bank accounts to Excel since the non-related details of the statement are not included in your work dataset.
After processing, the file can then be opened in Excel or prepared for use with accounting software platforms like QuickBooks, Xero, and FreshBooks.
CSV provides a flexible accounting workflow
CSV is still useful since 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 found 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 useful for accounting firms who are who are working with multiple statements or clients at the same time.
The financial documents you use should be protected by careful security measures
Convenience isn’t the only consideration when processing financial records. Bookkeepers and accountants may also be concerned with the place they work from to process financial records.
Docubrew has two methods. Windows desktop application converts files locally, running on the PC used by the user. Users who prefer using a browser-based workflow may opt for the cloud version that is encrypted, where uploaded files are automatically deleted within 24 hours.
The platform may range that ranges from Excel software to bank statements which rely solely on remote processing.
Turning Document Archives Back Into Working Data
Although PDF statements make excellent records, they are inconvenient to use when transactions have to be sorted or reconciled. They also can’t be moved, changed, or filtered or re-organized. Scanned documents add another complication because the transaction information might only exist as an image.
Docubrew provides a mix of statement parsing and OCR for documents that have been scanned. It gives accountants bookkeepers, and businesspeople a easy method to convert the financial documents of archives into useful transaction information.
The result is an improvement in a workflow which was previously cumbersome: the bank statement remains as the original financial record but the transaction table turns into information you can use.