The advancement of technology in banking has made a lot of bookkeeping more efficient, but those who deal with financial records are aware that it’s not perfect. Clients continue to send statements in PDF format, feeds from banks may not be working, and historical transactions aren’t accessible. It is then necessary to change a PDF document that was meant for reading into a document that accounting software will actually use.

Utilizing a bank statement converter will reduce the quantity of repetitive work that is required. Docubrew converts bank statement data into spreadsheet-ready data instead of manually entering description, date deposits, withdrawals row by line.

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When a pdf becomes the missing piece

Imagine that a bookkeeper preparing an annual reconciliation for an individual client. The accounting software has the most recent transactions, however some old months are not present. Luckily, the client was able to download the original PDF report.

It used to take hours of tedious copying into an Excel spread sheet. The PDF bank statement to Excel workflow is a practical alternative. Docubrew can extract information about transactions from digital PDFs as well as scanned bank statements printed on paper.

Reducing manual transcription is also a great method to cut down the risk of errors in typing for those who have to transfer bank statements into Excel on a regular basis.

Be sure to keep the pages that Actually Are Counting

Bank statements don’t consist exclusively of transactions. A 12-page statement might include a brief description of the account information, disclosures and notifications together with a variety of pages that describe the actual banking transactions.

Docubrew lets users preview the document, and then select the appropriate pages before conversion. This makes it easier to convert bank statement data to Excel without the need to include irrelevant data.

After processing, the file is able to be opened in Excel or made ready for use with accounting platforms, such as QuickBooks, Xero, and FreshBooks.

CSV Facilitates Flexible Accounting Workflow

CSV remains popular because spreadsheets such as databases, accounting software and spreadsheets are compatible with CSV because they are compatible with spreadsheets, databases and accounting software. If you require an account statement converted to CSV, Docubrew produces structured output based upon the transaction table contained in the statement.

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.

The batch processing process is particularly valuable for accounting firms working through multiple statements or clients at a time.

Financial Documents deserve thought-out privacy safeguards

Processing financial records isn’t just about the convenience. Bookkeeping and accounting professionals can be concerned about the processing location as bank statements are confidential client data.

Docubrew offers two options. Windows desktop software processes files on the computer of the user, and the statements do not need to be uploaded in order to be converted. Cloud encryption is available for users who prefer working from browsers. Files uploaded are erased automatically within 24 hours.

This choice is what separates Excel software, which is based solely on remote processing from the bank statement platform.

Turning Document Archives Back Into Working Data

PDF statements are great documents, however they can be a hassle when transactions need to be sorted, reconciled removed, or imported into another. Scanned files add an additional issue, as the transaction information is often only available in images.

Docubrew is an effective tool that blends OCR and statement parsing to turn scanned documents into usable financial information. This offers accountants, bookkeepers and business owners a way to transform archival financial records into usable transactional data.

This simple remedy can help speed up the process of keeping the original bank statement, while making its transaction table available to the information you need to use.