Review a lengthy bank statement and you’ll find more than just the transaction ledger. Account summaries, explanations, notices and disclosures could be a part of the essential information that a bookkeeper will need.
Processing all data isn’t essential if the task is to transfer the transactional data into an accounting system or spreadsheet. To make a more targeted workflow, determine the pages that can be useful before creating the output.
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More pages don’t automatically mean More Useful Data
Take a look at a business that is reviewing a few months of banking transactions. While each monthly PDF might contain at least ten pages but only a tiny portion of it will contain the accounting tables needed.
Manually copying those tables is one solution however, it’s not fast and can lead to typing mistakes. Businesses can also convert bank statements to Excel while restricting the conversion process to pages that are relevant.
Docubrew’s page preview lets a user to review the page and choose what to process. You can remove cover sheets, disclosures as well as other pages.
You’ll have more control when you preview first
Automation is most useful in situations where the user can monitor what’s happening.
Docubrew’s preview feature permits users to preview the contents of the statement prior to converting it. Docubrew relies on the original document to extract data, rather than trying to estimate the value of financials.
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 however, it’s an essential one when financial documents are involved.
Exports should be controlled by the destination
After that, you’ll be asked about the plans you have to conduct with your transactions.
Excel excel is ideal for bookkeepers needing to organize or examine information. If the data will be transferred to a different system, CSV may fit the workflow better. Docubrew also has support for QBO output.
If someone needs to convert a bank statement into CSV format you can make an CSV instead of creating an Excel worksheet and later manually changing the formats.
Docubrew output is compatible with accounting platforms like QuickBooks, Xero and FreshBooks as well as spreadsheets.
Scanned paper statements may be added to the same workflow
The conversion is possible with any PDF file, not only those that have been digitally made.
Sometimes, companies have statements from the past accessible only in paper scans. Docubrew supports OCR for scans of PDF documents, so that these documents are able to be processed well.
This is a great option for historical bookkeeping where the most recent data was converted to digital format, while older documents were scanned from paper. Instead of creating two different workflows, the documents are processed using the same conversion process and reviewed prior to export.
Process Locally or Use Cloud
It is important to consider how documents are handled, as well as their output.
Docubrew’s Windows desktop software converts files locally, and saves client files to your computer. If you’re a fan of browser-based processing, the cloud option encrypts uploaded files and, according to Docubrew the program, deletes the files that have been uploaded and transformed within 24 hours.
The final step of converting an account statement from PDF into Excel is not to feed each page into the software and hope for a beneficial output.
Begin by reading through the pages that have the information you require. Examine what’s being extracted. Choose the appropriate format for the next accounting task.
Sometimes a cleaner financial workflow begins not with processing more data, but by deliberately processing less.