There’s a lot more on the lengthy bank statement than the simple ledger of transactions. Account summaries and notices, as along with explanation texts along with disclosures and other pages which contain the data required by a bookkeeper.
If your sole objective is to transfer transaction data into an accounting or spreadsheet system then it isn’t necessary to manage all of the data. To ensure a streamlined workflow, determine the pages that are useful prior to generating the output.
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The number of pages don’t necessarily mean that more valuable data is available.
Check out an organization that has been reviewing its banking operations over a period of months. The monthly PDFs may contain up to 10 pages but only a fraction of the document contains the required transaction tables to manage the accounting.
The manual copying of tables could be an option, but is slow and prone to typos. Businesses can convert bank statements into Excel, but only the pages that are relevant.
Docubrew has a page preview that lets users review the PDF and decide the pages to be processed. It is possible to remove disclosures, cover sheets, as well as other pages.
You are more in control when you preview your first
Automation is useful only if you know the process it’s performing.
Docubrew’s preview feature lets users to see all the pages of the report before converting it. The program extracts data from the original statement, instead of estimating the financial values.
When converting a PDF bank statement to Excel, that preview creates an opportunity to make sure the appropriate pages have been selected and examine the extracted information before downloading the result.
It’s a straightforward checkpoint but one that is crucial when financial documents are involved.
Exports should be designed by the destination
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Excel is a good option for bookkeepers who need to look over the rows, sort data or manipulate the spreadsheet data. CSV is a better option in the event that the data is going into another system. Docubrew also has support for QBO output.
If someone is required to convert a bank statement to CSV format it is possible to create an CSV instead of constructing an Excel worksheet initially and then manually altering the formats.
Docubrew can be used with accounting software like QuickBooks®, Xero®, and FreshBooks®, as well spreadsheet-based workflows.
Scanned paper statement statements are able to be included in the same workflow
Selective conversion doesn’t only apply to PDFs that are digitally created.
Sometimes older statements are only available as paper scans. Docubrew supports OCR for scanning statements in PDF format and these documents are able to be processed as well.
This can be useful for historical bookkeeping where the most recent records were digitalized while older statements were scanned off paper. The documents are converted by using similar methods before being reviewed prior to exporting.
Process Locally or Use the Cloud
The way financial documents are handled matters as much as the final product.
Docubrew’s Windows desktop software can convert files locally and saves client files to your computer. Cloud processing is available to users who prefer to use browser-based processes. Docubrew says that uploaded files are secured and files uploaded and the documents converted will be deleted automatically within 24 hours.
To summarize, converting a banking statement to Excel shouldn’t mean feeding every page of every PDF into a tool and hoping that the result is useful.
Begin by looking over the pages containing the information you require. Examine what’s being extracted. Select the format best suited to the next accounting job.
It’s possible to build a more efficient financial workflow by deliberately processing less rather than processing more.