Technology in banks has made bookkeeping simpler, but those who deal with financial records realize that it’s not perfect. The feeds for banks aren’t working correctly, the historic transactions might not be accessible, and clients might still be sending statements in the format of PDF. This means that someone needs to transform a PDF document meant to be read by a reader into something accounting software actually utilizes.
Utilizing a bank statement converter can reduce the amount of repetitive work required. Instead of entering manually dates description, withdrawals, and deposits row-by-row, Docubrew transforms the information on a statement into a spreadsheet format that is ready to be used.
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A PDF can be the missing element
Imagine a bookkeeper who is working on the year-end reconciliation of a new customer. The accounting platform contains the most recent transactions, however, several older years aren’t included. Fortunately that the client downloaded the PDF of the previous statements.
In the past, re-creating the same month would take long hours of copying and paste numbers into a spreadsheet. A PDF bank statement to Excel workflow provides a more practical alternative. Docubrew accepts electronic PDFs as well scans of paper statements, and extracts the transaction details for spreadsheet use.
Reducing manual transcription is also an effective way to lower the chance of errors for professionals who must transfer bank statements to Excel frequently.
Be sure to keep the pages that Actually count
Bank statements don’t consist of only transactions. A 12-page account statement may contain an introduction page, a account summary and disclosures or notifications as well as a variety of pages of banking activity.
Docubrew lets users view the document and choose the pages that are relevant prior to conversion. This makes it easier to convert bank statement data to Excel without having to add irrelevant content.
After the file has been processed the file can then be opened using Excel or used in accounting platforms such QuickBooks, Xero, FreshBooks and more.
CSV Provides Flexible Accounting Workflow
CSV is still popular due to the fact that spreadsheets as well as accounting software, databases and spreadsheets support it. Docubrew can convert a bank statement into CSV based on its transaction table.
This same process is used by firms to convert bank statements into CSV. This is whether they’re reconstructing historical records, handling cleaning projects for new clients, analyzing missing transactions, or compiling data in preparation for reconciliation.
Batch processing is especially beneficial for accounting firms that are working through multiple statements or clients simultaneously.
Financial Documents Deserve Thoughtful Privacy Controls
When processing financial records convenience is not the only thing to think about. Accountants and bookkeepers might be concerned about the place they work from to handle financial records.
Docubrew gives two methods. Its Windows desktop application processes files locally on the computer of the user and therefore the data isn’t stored for conversion. The cloud version that is encrypted is available to users who prefer working from browsers. Files uploaded are erased automatically within 24 hours.
The platform could range that ranges from Excel software to bank statements that depend solely on remote processing.
Turning Document Archives Back Into Working Data
While PDF statements are excellent records, they are inconvenient to utilize when transactions have to be reconciled or sorted. They can’t also be used to import, filter, or re-organize and so on. Scanned files can pose an issue because the transaction information could only be present as an image.
Docubrew is a powerful software that blends OCR and statement parsing to turn scans of documents into useful financial information. This gives accountants, bookkeepers, and business owners a way to transform archival financial records into useful transactional data.
This simple method can improve the efficiency of a lengthy process by keeping the original bank statement while the transaction table is converted to information that you can utilize.