Banking technology has automated the bookkeeping process in a lot of ways However, anyone who has to work in the field of financial records is aware that automation isn’t perfect. The feeds for banks aren’t working properly, the historical transactions might be unavailable and clients could still send documents in the format of PDF. It is necessary to transform a document designed to be read into information which accounting software actually uses.
A bank statement converter can reduce the quantity of repetitive work that is required. Docubrew transforms bank statement data into spreadsheet-ready data, instead of manually entering dates, descriptions withdrawals, and deposits row by line.
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If a PDF ends up being the missing piece
Imagine a bookkeeper is preparing a year-end reconciliation for a new client. The accounting platform has recent transactions, but several earlier months are not present. Fortunately, the client has downloaded the original PDF statement.
Typically, rewriting the previous months can take the time of copying figures onto a spreadsheet. A PDF bank statement that is converted to Excel workflow offers a viable alternative. Docubrew can extract transaction information from digital PDFs as well as scanned bank statements on paper.
For professionals who often need to move the bank’s statement into Excel to be processed manually, eliminating manual transcription also removes the possibility of typing mistakes.
Make sure you keep the pages that matter
The bank statements aren’t just composed of transactions. A 12-page account statement may include an account summary, disclosures and notices as well as a number of pages detailing actual banking activities.
Docubrew offers users the ability to view a document in a preview and select relevant pages for conversion. This allows users to convert bank statement data to Excel, without having to include irrelevant data.
The resultant file is ready to be used in conjunction with accounting platforms such as QuickBooks, Xero and FreshBooks.
CSV Provides Flexible Accounting Workflow
CSV remains useful, as it’s widely supported by spreadsheets and databases. Accounting applications also work with CSV. Docubrew will convert your bank statements to CSV using the transaction tables contained within the report.
The same workflow can help firms convert bank statement to CSV when reconstructing historical books, handling a new-client cleanup project, investigating missing transactions, or preparing data for reconciliation.
Accounting firms that must manage multiple accounts or clients simultaneously can benefit by batch processing.
Financial Documents should be analyzed for privacy controls
Processing financial records isn’t just about ease of use. Accountants and bookkeepers might be worried about the location they use to manage financial records.
Docubrew gives two choices. Windows desktop software converts files locally, and on the user’s PC. People who prefer a browser-based workflow can choose the encrypted cloud version in which uploaded files are immediately deleted after 24 hours.
This is the reason Excel software stands out Excel software, which relies exclusively on remote processing, from the platform for bank statements.
Turning Document Archives Back Into Working Data
The PDF statement is a great document, however it’s a pain for those who need to sort, reconcile and filter transactions from another. Scanned documents can cause additional complications because the transaction information could only be available in the form of an image.
Docubrew is a solution that combines statements parsing as well as OCR for documents that have been scanned. It provides accountants, bookkeepers, and businesspeople easy method to convert old financial records into actionable transaction information.
This results in a boost of a procedure that was previously arduous The bank statement is still used as the financial record it was originally but the transaction table turns into information you can work with.