Technology in banks has made a lot of bookkeeping easier, but those who deal with financial records understand that it’s not perfect. Clients are still sending PDF statements, bank feeds might not be working, and historical transactions aren’t available. A person must convert a PDF document that was meant to be read by data which accounting software actually uses.
A converter for bank statements can eliminate much of the repetitive work required in this process. Docubrew converts bank statements into spreadsheet-ready data instead of manually entering dates, descriptions withdrawals, and deposits row by line.
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When a PDF is deemed to be the missing piece
Imagine that a bookkeeper working on an annual reconciliation for the client. The accounting platform displays recent transactions, but a few older months are missing. Fortunately, the client has downloaded the original PDF reports.
The past was when creating those months would require many hours of copying and pasting numbers into a spreadsheet. A PDF bank statement to Excel workflow provides a more practical alternative. Docubrew extracts transaction data from paper bills that have been scanned or PDFs that are digital.
Reduced manual transcription can also make it less likely to make mistakes when typing. This is a big benefit for professionals who need regularly transfer bank statements into Excel.
Make sure you keep the pages that matter
Bank statements do not consist exclusively of transactions. A 12-page report could contain a cover sheet, an account summary, disclosures, or notices as well as a number of pages of bank transactions.
Docubrew allows users to preview a document and select relevant pages for conversion. It makes it much easier to convert bank statements to Excel without introducing unrelated statement contents into the working data.
After the file is processed the file can then be opened with Excel or used with accounting platforms like QuickBooks, Xero, FreshBooks, etc.
CSV Facilitates Flexible Accounting Workflow
CSV can still be useful, as it’s widely supported by spreadsheets and databases. Accounting applications also support CSV. Docubrew can convert your bank statements to CSV by using the transaction tables within the report.
The same process is employed to convert bank statements into CSV files for various uses, including the reconstruction of historical books, tackling a project to clean up unutilized client data, looking into gaps in transactions, or preparing the information to be used in reconciliation.
Accounting firms who need to work with multiple statements or clients can make batch processing extremely useful.
Financial documents should be treated with care and privacy safeguards
When processing financial records, it isn’t the only factor to be considered. Accountants and bookkeepers might also be concerned with the location where they manage financial records.
Docubrew provides two choices. Its Windows desktop software processes documents locally on the user’s computer and therefore the data isn’t being uploaded to convert them. If you prefer using a browser-based workflow may opt for the encrypted cloud version in which uploaded files are automatically deleted within 24 hours.
This distinction is what differentiates Excel software, which depends exclusively on remote processing, from the bank statement platform.
Turning Document Archives Back Into Working Data
Although PDF statements are great records, they’re difficult to utilize when transactions have to be sorted or reconciled. Also, they aren’t able to be used to import, filter, or re-organize and so on. Scanned documents create a further complication since the transaction details could only be available as an image.
Docubrew offers statement parsing in conjunction with OCR support for scanned documents, giving accountants, bookkeepers, and businesses a practical way to convert financial documents that are archived to a usable set of transactional data.
The result is a straightforward improvement to an otherwise tedious process: use the bank statement as the primary financial record while turning its transaction table into data you are able to use.