You’ll find more in the bank statement that is simply a transaction ledger. There could be account summaries, notices, explanatory text, disclosures, and other pages that contain the information a bookkeeper actually needs.
If the intention is to move transaction data to a spreadsheet or a accounting system, a thorough processing of everything may be inefficient. Before making the output, determine the pages that are most beneficial.
Image credit: docubrew.com
More Pages Don’t Automatically Mean More Useful Data
Consider a business reviewing several months of banking transactions. Each PDF could contain at least ten pages, but only a small portion of the documents contains table of transactions required for accounting work.
The manual copying of tables is an option however, it’s not fast and could lead to typing errors. Businesses can convert bank statements to Excel, but only the pages that are relevant.
Docubrew’s page preview lets the user to review the page and choose which pages to process. Disclosures, cover sheets and other pages that aren’t required could be left out.
The Previewing First Step Gives You More Control
Automation is most beneficial when the person using it can monitor what’s happening.
Docubrew lets users look at the statement pages prior to completing conversion. The program relies on the original document 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.
The checkpoint is straightforward but is crucial when it comes to financial records.
Exports should be designed by the destination
Next, you will be asked if you plan to accomplish with your transactions.
Excel can be practical in situations where a bookkeeper must look over rows, categorize data or manipulate the information in a spreadsheet. CSV might be a better alternative if you’re planning to transfer the data to another system. Docubrew supports QBO output.
Someone who requires to convert bank statements to CSV for example it is possible to create CSV instead of creating a CSV rather than creating an Excel workbook first and manually changing formats afterward.
Docubrew output can be used to work with accounting platforms such as QuickBooks, Xero and FreshBooks as well as spreadsheets.
Scanned Paper Statements Can Join the Same Workflow
The conversion can be performed with any PDF file, not just digitally created ones.
Certain businesses have only documents on paper that are older than the statements. Docubrew allows OCR for the PDF format of scanned statements to ensure that these documents are able to be processed as well.
It is a great option when working on historic accounting projects, where certain documents have been digitally converted while others were scanned directly from paper. They could be converted by the same process followed by a review prior to exporting.
Process Locally Or Use the Cloud
It is important to consider the handling of documents as well as their output.
Docubrew’s Windows desktop application processes conversions locally, storing client files on the computer. Cloud options are for users who want to process documents in browsers. Docubrew claims that the cloud option erases the deleted and uploaded files within 24 hour.
The final step in converting a PDF bank statement to Excel is not to feed each page into the software in the hope of obtaining a useful output.
Start by reading pages that contain the information you require. Go over what’s being taken. Select the format to be used to complete the next task in accounting.
Sometimes a more efficient financial workflow doesn’t begin through processing more however, but rather by choosing to process less.