Banking technology has automated the bookkeeping process in a lot of ways However, anyone who has to work with financial records knows that automation isn’t perfect. The bank feeds are not working correctly, the historic transactions may be not available and clients might still be sending statements in PDF format. If this happens, someone needs to convert a file specifically designed for reading data into a format that accounting software can actually utilize.

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Utilizing a bank statement converter can reduce the quantity of repetitive work that is required. Docubrew transforms bank statement data into spreadsheet-ready information, rather than manually entering dates, descriptions withdrawals, and deposits row by line.

A PDF can become the missing piece

Imagine a bookkeeper making an annual reconciliation for the first client. The accounting system has recently completed transactions, but some of the older months are not present. The client had downloaded the PDF original statements.

It used to take many hours of grueling copying an Excel spread sheet. A bank statement in PDF format to Excel workflow is a feasible alternative. Docubrew can extract transaction information from digital PDFs, as well as scan bank statements made of paper.

For professionals who regularly need to move a bank statement to Excel, reducing manual transcription also removes an unnecessary opportunity for typing errors.

Keep the Pages That Actually are Important

Bank statements don’t consist of only transactions. A 12-page report could contain an introduction page, a account overview, disclosures, or notices as well as a variety of pages of actual bank activity.

Docubrew offers users the ability to look at a document before they select relevant pages for conversion. This makes it easy to convert bank statements to Excel without having to include irrelevant data.

After processing, the file can then be opened in Excel or re-formatted to work with accounting platforms such as QuickBooks, Xero, and FreshBooks.

CSV Provides Flexible Accounting Workflow

CSV is still useful since it is widely supported by spreadsheets, databases, and accounting applications. Docubrew can convert bank statements to CSV based on the table of transactions.

This same process can assist firms convert bank statement to CSV for the purpose of re-constructing historical books, handling a new-client cleanup project, looking into missing transactions, or preparing details to be reconciled.

Accounting firms that need to work with many clients or statements can benefit from batch processing.

Financial Documents should be analyzed for privacy safeguards

The convenience factor isn’t the only one to consider when processing financial records. Bank statements could contain sensitive client data accounting professionals and bookkeepers might also be concerned about the location where processing occurs.

Docubrew provides two alternatives. Windows desktop software converts files locally, running on the user’s computer. If you prefer a browser-based workflow can select the cloud encryption option in which uploaded files are automatically deleted within 24 hours.

This is the reason Excel software stands out Excel software, which relies exclusively on remote processing, from the bank statement platform.

Turning Document Archives Back Into Working Data

The PDF statement is a great record, but it’s inconvenient if you need to sort, reconcile and filter transactions elsewhere. Scanned files create an additional issue, as the details of transactions are usually only available as images.

Docubrew offers a combination of statement parsing and OCR for scanned documents. It gives accountants bookkeepers, and businesspeople a easy way to convert archived financial documents into actionable transactions data.

The result is a straightforward improvement to an otherwise tedious procedure: maintain the bank statement as a primary financial record, while transforming its transactions table into data that you can actually use.