Technology in banks has made bookkeeping more efficient, but people who handle financial records are aware that it’s not perfect. When the bank feeds aren’t working properly, the historical transactions might not be accessible, and customers may be unable to send statements in PDF format. It is necessary to convert a document that was meant to be read by the data which accounting software actually uses.
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Bank statement converters can save you time by automating the process. Instead of manually entering dates, descriptions, withdrawals, and deposits row-by-row, Docubrew converts statement information into structured spreadsheet-ready data.
If a PDF is the missing piece
Imagine that a bookkeeper is creating an annual reconciliation to clients. The accounting platform shows the most recent transactions, however a few older months have been left out. Fortunately, the client has downloaded the PDF of the previous statements.
It was once a process of many hours of grueling copying an Excel spreadsheet. A PDF bank statement that is converted to Excel workflow is a feasible alternative. Docubrew extracts transaction data from scanned paper bills or PDFs that are digital.
Professionals who frequently require the transfer of an account statement from a bank to Excel by hand, reducing the manual transcription eliminates the possibility of mistakes in typing.
Save the Pages that Actually Relevant
Bank statements aren’t made up of only transactions. A 12-page account statement may include a brief description of the account, disclosures and notices as well as a number of pages detailing the actual banking transactions.
Docubrew offers users the ability to preview a document and select relevant pages for conversion. It is simpler to convert bank statement accounts to Excel because the contents that are not related to the bank account of the statements aren’t included in your working dataset.
Once the file has been processed, it can be opened with Excel or used in accounting platforms such QuickBooks, Xero, FreshBooks etc.
CSV Provides a Flexible Accounting Workflow
CSV is still in use because it is widely supported by spreadsheets, databases and accounting applications. Docubrew can convert bank statements into CSV by referring to its transaction table.
The same process helps businesses convert bank statements into CSV, whether they are rebuilding old records, coordinating cleaning projects for new clients, looking into the missing transaction, or even preparing records for reconciliation.
Accounting firms who need to handle many clients or statements can find batch processing particularly useful.
Financial Documents require careful consideration of privacy restrictions
Processing financial records is not only about ease of use. Accountants and bookkeepers might be also concerned about the location where they manage financial records.
Docubrew offers two alternatives. Windows desktop software processes files stored on the computer of the user. However, the statements cannot be uploaded to be converted. Users who prefer workflows using browsers are able to select the encrypted cloud option, where uploaded files will be deleted automatically 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
While PDF statements are excellent documents, they’re not ideal to use when transactions have to be sorted or reconciled. They are also not able to be imported, filtered, re-organized and so on. Scanned documents create a further complication as the transaction data may exist only in the form of an image.
Docubrew is an effective software that uses OCR and statement parsing to turn the documents that were scanned into useful financial information. This provides accountants, bookkeepers and business owners the ability to convert financial records that are archival into useful transactional information.
The result is a straightforward improvement to an otherwise monotonous workflow: keep the bank statement as a primary financial record, while transforming its transactions table into data that you are able to use.