Bank technology has made a lot of bookkeeping more efficient, but people who handle financial records know that it’s not ideal. In the case of feeds from banks, transactions might not be available or the clients are still sending statements in PDF. One must convert a PDF document that was meant to be read by information which accounting software actually uses.
A bank statement converter can decrease the quantity of repetitive work that is required. Docubrew automatically converts the information of your bank statement into structured spreadsheet data.
Image credit: docubrew.com
When a PDF Becomes the Missing Piece
Imagine that a bookkeeper creating an annual reconciliation to clients. The accounting system shows the most recent transactions, but some of the older years are missing. Fortunately the client has downloaded the original PDF reports.
The past was when re-creating the same month would take several hours of copying numbers into a spreadsheet. The bank statement PDF to Excel workflow is a feasible alternative. Docubrew accepts digital PDFs and scanned paper statements and extracts transaction data for use in spreadsheets.
For professionals who regularly require the transfer of the bank’s statement into Excel by hand, reducing the manually transcribed statements also eliminates an unnecessary opportunity for mistakes in typing.
Save the Pages that Actually Are Counting
The bank statements aren’t just composed of transactions. A 12-page account statement may include an overview of the account, disclosures and notices together with a variety of pages that describe actual banking activities.
Docubrew lets users preview the document and select the relevant pages before conversion. It is much easier to convert bank statements accounts to Excel because the contents that are not related to the bank account of the statement are not included in the working data.
After processing, the file is able to be opened in Excel or prepared for use using accounting software such as QuickBooks, Xero, and FreshBooks.
CSV provides a flexible Accounting Workflow
CSV remains useful because it is widely supported by databases, spreadsheets and accounting programs. If you need a bank statement to CSV, Docubrew produces structured output based on the transaction table contained in the statement.
This same process is used by firms to convert bank statements into CSV, whether they are making historical records from scratch, handling the cleanup of new clients, researching the missing transaction, or even preparing information for reconciliation.
Accounting firms that have to handle multiple client statements or clients simultaneously can benefit from batch processing.
Financial Documents Deserve Thoughtful Privacy Controls
When processing financial records, convenience is not the only thing to think about. Bank statements may contain sensitive information about clients, so accountants and bookkeepers might also be concerned about where processing takes place.
Docubrew gives two methods. Its Windows desktop application runs documents locally on the user’s personal computer which means that the documents aren’t transferred to the cloud for conversion. The encrypted cloud version is available to those who prefer working with browsers. Files uploaded are erased automatically within 24 hours.
The platform may range that ranges from Excel software to bank statements based exclusively on remote processing.
Turning Document Archives Back Into Working Data
The PDF statement is an excellent record, but it’s a hassle when you have to sort, reconcile or filter transactions from other sources. Scanned documents add an extra complexity, since the transaction information is often only available as images.
Docubrew is a solution that combines statement parsing and OCR for scanned documents. It offers accountants, bookkeepers and businesspeople a simple way to transform old financial records into actionable transactions data.
The result is an improvement in a process which was previously cumbersome: the bank statement remains as the financial record that it was in the beginning but the transaction table transforms into data that you can work with.