When you read a long statement, you’ll find plenty more than the transaction ledger. There may be account notes, summaries, explanations statements, text, and other pages that contain the information that a bookkeeper requires.
Processing all data isn’t necessary if the goal of the project is to transfer the transactional data to an accounting software or spreadsheet. Before creating the output, identify the pages that will be most useful.
Image credit: docubrew.com
It’s Not a Significance of More Data.
Imagine a business reviewing the banking activities of a number of months. While each monthly PDF might contain 10 pages or more however, only a small fraction of it contains the tables necessary for accounting.
The manual copying of tables can provide a solution however it is time-consuming and prone to typos. Instead, businesses can convert bank statements into Excel with the intention of limiting the conversion process to pages that are relevant.
Docubrew’s page preview allows the user to view and decide what information to take into consideration. You can also remove disclosures, cover sheets, and other pages.
You’ll have more control when you first preview
Automated systems are most effective when they can be controlled by the user.
Docubrew allows users to preview the statements before completing conversion. The program utilizes the original statement to extract data, rather than trying to estimate the value of financials.
When you convert a bank statement into Excel it gives the user an opportunity to ensure the appropriate pages have been selected. You can also review the extracted information before downloading the result.
This is a simple but vital checkpoint when it concerns financial documents.
The Export’s Form should be influenced by the destination
The next question is what you will do with the transaction.
Excel excel is a great tool for bookkeepers needing to analyze or sort data. CSV may be a better choice if you are transferring data to a different system. Docubrew can support QBO output.
Someone who needs to convert bank statement to CSV, for example, can generate a CSV rather than creating an Excel workbook first and manually changing formats afterward.
Docubrew’s output is designed for use with accounting platforms like QuickBooks, Xero, and FreshBooks along with spreadsheet-based workflows.
Scanned Paper Statements Can Join the Same Workflow
Conversion selective isn’t restricted to PDFs that are digitally created.
Some businesses only have documents on paper that are older than the statements. Docubrew is able to process PDF scanned documents, which includes statements.
It can be beneficial during historical bookkeeping projects where recent records are digital, while earlier statements were scanned from paper. Instead of creating two completely different workflows, documents can be processed through the same general conversion process and then analyzed prior to export.
Processing Locally or in the Cloud
It is important to consider how documents are handled as well as their output.
Docubrew’s Windows desktop application handles conversions locally and keeps client files in the system. If you’re a fan of browser-based processing, the cloud option encrypts uploaded files. According to Docubrew it automatically deletes the files that have been uploaded and transformed within 24 hours.
Converting a bank account statement to Excel doesn’t mean feeding each page of the PDF file and hoping it will prove useful.
Begin by reviewing the pages that provide the information you require. Find out what is being extracted. Select the appropriate format for the next accounting task.
A better financial workflow may start not by more processing however, it is by intentionally doing less.