The banking technology has greatly automatized bookkeeping. However, anyone who deals with financial records understands that the automation process doesn’t always work. The feeds for banks aren’t working correctly, the historic transactions may be not available and clients might still be sending documents in PDF format. One must convert a PDF document that was created to be read as data that accounting software actually works with.
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A converter for bank statements will remove a lot of the repetitive work involved in that process. Docubrew converts bank statements into spreadsheet-ready data instead of manually entering dates, descriptions withdrawals, and deposits row-by-line.
When a PDF becomes the Missing Piece
Imagine a bookkeeper who is creating the year-end reconciling for new customers. The accounting platform shows recent transactions, but a few older months were left out. The client downloaded PDF original statements.
In the past, re-creating the months of those years would have required several hours of copying numbers into a spreadsheet. A bank statement in PDF format to Excel workflow is a more practical alternative. Docubrew can extract transaction information from digital PDFs and scanned bank statements printed on paper.
For those who require moving the bank’s statement into Excel and reduce manual transcription also removes the potential for typing mistakes.
Be sure to keep the pages that Actually Are Important
Bank statements do not consist exclusively of transactions. A 12-page account statement may include an account summary as well as disclosures and other notices, together with a variety of pages that describe actual banking activities.
Docubrew lets users view the document and select the relevant pages prior to conversion. This makes it simple to convert bank statements to Excel without having to add unrelated content.
Once the file has been processed after processing, it can be opened with Excel or utilized in accounting platforms like QuickBooks, Xero, FreshBooks, etc.
CSV offers a flexible accounting Workflow
CSV remains useful, as it’s widely supported by spreadsheets and databases. Accounting software also supports CSV. Docubrew can convert your bank statement to CSV using the transaction tables that are contained in the statement.
The same workflow can help firms convert bank statements to CSV for the purpose of re-constructing historical books as well as handling a client cleanup project, searching for missing transactions, or creating details to be reconciled.
Accounting firms who need to manage multiple accounts or clients simultaneously can benefit by batch processing.
Financial Documents require careful consideration of privacy controls
Processing financial records is not solely about the convenience. Bank statements could contain sensitive information about clients accounting professionals and bookkeepers could also consider where the processing is taking place.
Docubrew comes with two ways to process data. Windows desktop software converts files locally, running on the PC of the user. The cloud version that is encrypted is available for users who prefer working from browsers. The uploaded files are deleted immediately after 24 hours.
That choice distinguishes the platform from bank statement to Excel software that depends exclusively on remote processing.
Turning Document Archives Back Into Working Data
The PDF statement is a fantastic record, but it’s a hassle should you need to reconcile, sort and filter transactions in other systems. Scanned documents add an extra issue, as the transaction details are typically only available as images.
Docubrew is an effective software that uses OCR and statement parsing to turn scanned documents into usable financial information. This offers accountants, bookkeepers, and business owners the chance to transform archival financial records into valuable transactional data.
This simple solution improves a tedious workflow by retaining the original bank statement, while making its transaction table available to data that you can use.
