Banking technology has streamlined a great deal of bookkeeping however anyone working with financial records knows that automation isn’t always perfect. In the case of feeds from banks, transactions may be unavailable or the clients are still sending statements in PDF. In the end, someone must transform a PDF document designed for reading into something that accounting software actually utilizes.
Image credit: docubrew.com
A converter for bank statements can remove a lot of the repetitive tasks involved in the process. Docubrew converts bank statement data into spreadsheet-ready information, rather than manually entering date, description, withdrawals and deposits row-by-line.
When a pdf becomes the missing piece
Imagine a bookkeeper preparing an annual reconciliation for the first client. The accounting platform shows the most recent transactions, however some older months have been left out. Luckily, the client downloaded the original PDF report.
It was once a process of long hours of tedious copying the spread sheet. A PDF bank statement that is converted to Excel workflow is a better option. Docubrew accepts digital PDFs and the paper copies and extracts the transaction information to use in spreadsheets.
For professionals who regularly need to move a bank statement to Excel, reducing manual transcription also removes an unnecessary opportunity for typing errors.
Make sure you keep the pages that matter
Statements from banks don’t contain only transactions. A 12-page paper could have a cover sheet, an account overview, disclosures, notices, and several pages of bank transactions.
Docubrew allows users to preview the document, and then select the appropriate pages prior to conversion. It makes it much easier to convert bank statements into Excel without adding unrelated statements content into the working dataset.
The resulting file is ready to be used in conjunction with accounting platforms such as QuickBooks, Xero and FreshBooks.
CSV Facilitates Flexible Accounting Workflow
CSV remains popular since spreadsheets as well as accounting software, databases and spreadsheets are compatible with CSV because they are compatible with spreadsheets, databases and accounting software. Docubrew will transform your bank statement into CSV using the transaction tables that are contained in the statement.
The same workflow is able to help companies convert bank statements to CSV for the purpose of re-constructing historical books or handling a clean-up project, looking into missing transactions, or in the process of preparing details for reconciliation.
Accounting firms that must manage clients with multiple statements may find batch processing particularly useful.
The financial documents you use should be protected by careful privacy safeguards
Processing financial records isn’t solely about convenience. Bookkeepers and accountants may also be concerned with the place they work from to manage financial records.
Docubrew gives two options. Windows desktop software converts files locally on the user’s PC. Users who prefer workflows using browsers are able to select the encrypted cloud option, where uploaded files will be automatically deleted after 24 hours.
The platform can range from Excel software to bank statements that depend exclusively on remote processing.
Turning Document Archives Back Into Working Data
PDF statements are excellent documents, but they’re not ideal for transactions that need to be sorted, reconciled, filtered, or imported elsewhere. Scanned files can add a new complication, as the transaction information is often only available in images.
Docubrew is an effective software that blends OCR and statement parsing to transform scanned documents into usable financial information. This offers accountants, bookkeepers, and business owners the chance to transform archival financial records into valuable transactional data.
The result is an easy improvement to an otherwise tedious workflow: keep the bank statement as the initial financial record, while transforming its transaction table into data you are able to use.