The banking technology has greatly automated bookkeeping. However anyone who handles financial records understands that the automation process doesn’t always perform as expected. Clients continue to send PDF statements, bank feeds may not be working, and historical transactions aren’t available. In the event of this, someone must transform a document specifically designed for reading data into a format that accounting software could actually use.
A converter for bank statements can take away a significant portion of the repetitive work that is involved in this process. Docubrew will convert the information of your bank statement into structured spreadsheet data.
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A PDF can be the missing component
Imagine a bookkeeper preparing the year-end reconciliation for an incoming customer. The accounting software has the most recent transactions, but some of the older months are not present. Fortunately the client has downloaded the original PDF statements.
It was once a process of long hours of tedious copying an Excel spreadsheet. The bank statement PDF to Excel workflow is a practical alternative. Docubrew accepts electronic PDFs as well scanned paper statements and then extracts the information about transactions to be used in spreadsheets.
For professionals who often have to transfer statements from banks to Excel, reducing manual transcription can also eliminate an unnecessary opportunity for typing errors.
Keep the Pages That Matter
Bank statements aren’t made up of only transactions. A 12-page statement could include an introduction page, a account summary and disclosures or notifications along with a number of pages of actual bank activity.
Docubrew lets users preview the document and choose the pages that are relevant before conversion. It makes it much easier to convert bank statement data to Excel without introducing unrelated statement data into the working dataset.
Once processed, the resulting file can be opened in Excel or re-formatted to work with accounting platforms such as QuickBooks, Xero, and FreshBooks.
CSV provides a flexible Accounting Workflow
CSV remains useful since it’s extensively supported by databases and spreadsheets. Accounting software also supports CSV. If you need a bank statement to CSV, Docubrew produces structured output based on the transaction table contained in the statement.
The same process helps businesses convert bank statements to CSV. This is whether they’re making historical records from scratch, handling an ongoing cleanup project for new clients, analyzing missing transaction, or preparing the data for reconciliation.
Batch processing can be particularly advantageous for accounting firms who are working with multiple statements or clients at the same time.
Financial Documents – Financial Records – Should be Considering Privacy Controls
When processing financial records, it isn’t the only thing to think about. Bookkeepers and accountants can be worried about the location where they manage financial records.
Docubrew offers two options. Windows desktop application converts files locally, and on the PC of the user. Users who prefer using a browser-based workflow may opt for the cloud version that is encrypted, where uploaded files are completely deleted after 24 hours.
The platform can range that ranges from Excel software to bank statements based exclusively on remote processing.
Turning Document Archives Back Into Working Data
PDF statements are fantastic documents, however they can be a hassle when transactions have to be sorted, reconciled, and filtered or imported from another. Scanned documents add another complication because the transaction information might only exist in the form of an image.
Docubrew is an effective tool that combines OCR and statement parsing to transform document scans into usable financial data. This provides accountants, bookkeepers, and business owners a way to turn archival financial paperwork into valuable transactional data.
The result is an improvement of a process which was previously cumbersome and time-consuming. The bank statement will remain as the financial record it was originally but the transaction table becomes data you can use.
