If you go through a lengthy statement, you’ll usually find much more information than just the transaction ledger. There may be account summaries, notices, explanatory text, disclosures as well as other pages containing the data a bookkeeper needs to have.
Processing all data is not required if the project is to move transactions into an accounting system or spreadsheet. Before creating the output, identify the pages that are most beneficial.
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The number of pages don’t automatically mean more useful data
Imagine a company looking over several months of banking transactions. While each monthly PDF could contain at least ten pages but only a tiny portion of it will contain the accounting tables that are required.
The manual copying of those tables can provide a solution, but is slow and prone to typos. Businesses can convert bank statements into Excel but only on the relevant pages.
Docubrew’s preview page lets the user to look over and decide on which pages to process. You can also remove the cover sheet, disclosures as well as other pages.
You can have more control by previewing the first
Automated systems perform best when they are monitored by the user.
Docubrew’s preview feature permits users to look at the pages of the statement prior to converting it. The program extracts figures directly from the source statement rather than estimating financial figures.
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 easy but is crucial in the case of financial records.
Exports should be controlled by the destination
What are your plans regarding the deal?
Excel excel is perfect for bookkeepers that need to organize or examine information. If the data will be transferred to a different software, CSV may fit the workflow better. Docubrew also can support QBO output.
A person who wants to convert their bank statements to CSV is able to do so by creating CSV files. CSV file, rather than initially making an Excel document, and manually altering its format.
Docubrew can be used with accounting software like QuickBooks®, Xero®, and FreshBooksas well as spreadsheet-based workflows.
Scanned Paper Statements Can Join the same Workflow
The conversion can be made on any PDF file, not only those that have been digitally made.
Some companies have documents on paper that are older than the statements. Docubrew includes OCR for PDF documents that have been scanned that allow those statements to be processed also.
This is useful to keep a historical record of bookkeeping in which the most recent records were digitalized, but older records were printed on paper. Instead of creating two different workflows, the documents are processed using the same general conversion process and then reviewed prior to export.
Processing Locally or in the Cloud
The final output of financial records is as important as the way they are managed.
Docubrew’s Windows Desktop application converts documents locally to the client’s system. The cloud option is designed for users who wish to process documents through a browser. Docubrew claims that the cloud option deletes the converted and uploaded files within 24 hour.
In the end, converting a bank statement into Excel shouldn’t mean feeding every page of a document into an Excel tool and hoping that the output will be helpful.
Begin by looking over the pages containing the information that you need. Review what’s being extracted. Choose the appropriate format to meet the next accounting task.
Sometimes, a better financial workflow does not begin by requiring more processing, but by deliberately processing less.
