Banking technology has helped automate much of the bookkeeping however anyone working in financial records will tell you that automation isn’t 100% perfect. The bank feeds are not working correctly, the historic transactions may be not available and clients may still send documents in the format of PDF. A person must convert a document that was meant to be read by the data that accounting software actually uses.
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A bank statement converter can eliminate much of the repetitive work involved in that process. Instead of entering manually dates and descriptions, withdraws, and deposits row by row, Docubrew converts statements into a structured spreadsheet ready for use.
When a PDF is deemed to be the missing piece
Imagine that a bookkeeper working on an annual reconciliation for clients. The accounting platform shows recent transactions, but some months from the past are missing. Fortunately, the client has downloaded the original PDF statements.
Typically, rewriting those months could involve long hours of copying numbers into a spreadsheet. A PDF bank statement to Excel workflow provides a more efficient alternative. Docubrew accepts digital PDFs as well as scans of paper statements, and extracts transaction data to use in spreadsheets.
Manual transcription that is less laborious can make it less likely to make mistakes in typing, which is an enormous benefit for professionals that need to regularly move bank statements into Excel.
Keep the Pages That Actually are Important
Bank statements are not exclusively of transactions. A 12-page account statement may contain the cover page, account overview, disclosures, or notices and a few pages of actual transactions at the bank.
Docubrew lets users to view a document in a preview and select relevant pages for conversion. It is much easier to convert bank statements accounts to Excel since the non-related details of the statement are not included in your working dataset.
After the file is processed after processing, it can be opened using Excel or integrated into accounting platforms such as QuickBooks, Xero, FreshBooks etc.
CSV Offers a Flexible Accounting Workflow
CSV remains useful because it is widely used by spreadsheets, databases and accounting programs. Docubrew will convert your bank statement to CSV by using the transaction tables included in the statement.
The same process can help firms convert bank statements into CSV. It is useful whether making historical records from scratch, handling cleaning projects for new clients, analyzing missing transaction, or preparing information for reconciliation.
Batch processing is especially valuable for accounting firms that are working on multiple accounts or clients at a time.
Financial Documents Should Be viewed with a keen eye for privacy Controls
Processing financial records isn’t just about the convenience. Bookkeeping and accounting professionals can be concerned about where they process the data because bank statements contain sensitive details about the client.
Docubrew offers two options. Windows desktop applications convert files locally, on the user’s PC. For those who prefer workflows based on browsers, they are able to select the encrypted cloud option, where uploaded files will be deleted automatically within 24 hours.
The platform could range that ranges from Excel software to bank statements which rely exclusively on remote processing.
Turning Document Archives Back Into Working Data
While PDF statements can be excellent documents, they’re not ideal to utilize when transactions have to be sorted or reconciled. They can’t also be transferred, processed, re-organized or re-organized. Scanned files can pose problematic because the information about transactions could only be present in the form of an image.
Docubrew is a blend of statement parsing and OCR for scanned documents. It provides accountants, bookkeepers and businesspeople a simple method of transforming archived financial documents into actionable transactional data.
The result is a change of a process that was previously arduous as the bank statement continues as the financial record it was originally however, its transaction table turns into information you can work with.