Take a look at a lengthy bank account statement and you’ll usually find more than an account ledger for transactions. Account notes, summaries, explanations and disclosures may surround the actual information that the bookkeeper requires.
If your sole objective is to integrate transaction data into an accounting or spreadsheet system, it may not be necessary to manage all data. To ensure a streamlined workflow, determine the pages that can be useful before creating the output.
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It’s not a sign of more data.
Look at the company that is looking over its banking activities for several months. The PDFs for the month could have at least 10 pages but only a portion of the document will contain the necessary transaction tables to manage the accounting.
Manually copying these tables is one option however, it’s not fast and introduces opportunities for mistakes in typing. Businesses can convert bank statements to Excel but only the pages that are relevant.
Docubrew’s page preview lets the user to look over and decide on what information to take into consideration. You can eliminate pages like disclosures, cover sheets or other pages you don’t require.
Improve Control by Using Preview the first
Automated systems are the most efficient when they are controlled by the user.
Rather than using a blind process to process a whole document, Docubrew lets users preview statements prior to completing the conversion. The software makes use of the original statement to extract figures instead of making an attempt to estimate the financial value.
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 simple checkpoint, however, it’s an essential one when financial documents are involved.
The destination should determine the Export
After that, you’ll be asked what you intend to accomplish with your transactions.
Excel can be useful if the bookkeeper needs to sort the data, look over rows or manipulate the data. CSV could be a better alternative if you’re planning to transfer the data to a different system. Docubrew also allows QBO output.
A person who has to convert a bank statements to CSV, for example could create an CSV rather than making an Excel workbook first and manually changing formats later on.
Docubrew is compatible with accounting software such as QuickBooks®, Xero®, and FreshBooksand also spreadsheet-based workflows.
Scanned paper statements can be used to be seamlessly integrated into the workflow
The conversion can be done on any PDF document, not only those that have been digitally made.
Sometimes older statements are only accessible as scans of paper. Docubrew supports OCR for the PDF format of scanned statements, so that these documents can be processed well.
This could be beneficial to keep a historical record of bookkeeping in which the most recent records were digitalized but older statements were printed on paper. Instead of having two distinct processes, documents can be processed using the same general conversion method and examined before exporting.
Processing Locally or in the Cloud
The outcome of financial documents is just as important as the way they are managed.
Docubrew’s Windows Desktop application can convert documents locally on the client’s PC. Cloud is a choice for those who prefer to work with documents using browsers. Docubrew claims that the cloud option deletes the uploaded and converted files within 24 hours.
Converting a bank account statement to Excel doesn’t mean feeding each page of the PDF file hoping that it will be beneficial.
Begin by reading through the pages with the information you need. Review what information is being deleted. Then choose the format that fits the accounting task to follow.
It’s possible to build more efficient financial workflow through the deliberate process of processing less instead of processing more.