Processing a single bank account statement isn’t too much of a challenge. Even manual entry can seem easy when only one PDF is required.

Divide this task into numerous companies, several account numbers and multiple period of statements.

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The problem is not the same. The issue changes. A better bank statement conversion doesn’t simply mean making one statement quicker. It is essential to create an approach that works when the amount of documents increase.

Repetition Is the Real Bottleneck

Imagine a company in accounting that receives PDFs every month from various clients. One is Chase, another Wells Fargo, while others provide statements via Bank of America, Capital One, Citi, or smaller organizations.

The exact process repeats every when you open a pdf and manually input every transaction.

A bank statement convertor will change the process away from transcription to more of a review. Docubrew extracts the transaction numbers from the statement itself instead of estimating financial values which creates structured documents that can be checked before they’re used. When the number of documents is increasing, this distinction becomes even more important.

Batch Processing Modifies the Equation

For conversions that are not frequent, it may be reasonable to deal with files in a separate manner. Accounting firms have different requirements. Docubrew lets multiple statements be transferred and processed in a single run, with results accessible individually. Firms can then process a set of client documents without manually creating each transaction table.

If the accounting workflow requires CSV files, users can convert bank statements to CSV and review the resulting transaction data before moving forward.

Similar to papers that have been scanned. Docubrew offers OCR for PDFs that are scanned, which can be helpful if your client’s historical records comprise documents that are native PDFs as well as scanned documents.

Create Output for the Accounting Work Ahead

The process doesn’t finish when the conversion is completed. The transactions typically need to go somewhere.

Docubrew allows export of CSV, Excel and QBO. If you’re in a group that requires to transfer bank statements to Quickbooks, QBO provides an available output option alongside the more standard spreadsheet formats.

Organizations that convert bank statements into Quickbooks on a regular basis can establish a standard process for receiving the reports after processing them, as well as checking the extracted data. They can also make the required files to facilitate the accounting process.

The human review is still important. While automation is able to reduce the amount of repetitive transcription, bookkeepers need to review financial data and finish the accounting tasks.

Client data deserves its own workflow decisions

A higher volume of documents can also mean more sensitive information about customers.

Docubrew uses two methods of processing. The Windows desktop application handles conversions locally, allowing files remain on the firm’s system. The cloud option uses encrypted uploads, and Docubrew declares that the uploaded and converted files are deleted automatically within 24 hours.

A business’s accounting department can pick the method that best fits the requirements of its internal handling.

Scale the Process, not the Repetitive Work

Increased bookkeeping practices will lead to more financial documents. This shouldn’t be a case of automatically accepting more copy and paste tasks.

It is vital to determine if the same process that has been successful for five clients is able to be applied to 50.

By standardizedizing the process of receiving, converting, reviewing, and preparing statements for accounting software, companies can develop workflows for regular numbers rather than treating every new PDF as a manual project.