Open a lengthy bank statement and you’ll often find many more pages than the transaction ledger. Account overviews, notices, explanatory text, disclosures, and other pages surrounding the information a bookkeeper actually needs.
Processing all data is not essential if the project is to transfer transactional data to an accounting software or spreadsheet. Before making the output, determine the pages that will be most useful.
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The number of pages on a page doesn’t necessarily mean more data
Have a look at the business’s review of its banking transactions over a number of months. While each monthly PDF might contain 10 pages or more, only a small portion of it contains the accounting tables that are required.
Manually copying the tables is a solution but it’s a slow process and could lead to typing errors. Businesses can instead convert bank statements to Excel while limiting the conversion to relevant pages.
Docubrew provides a page preview which allows users to look over the PDF and choose the pages to be processed. It is possible to remove disclosures, cover sheets, or other pages you do not require.
You’ll have more control when you preview the first time
Automation is only effective when you are able to see the process it’s performing.
Instead of blindly processing an entire document, Docubrew lets users preview statements before they begin the conversion. It extracts figures from the original statement, instead of estimating financial values.
When you convert a bank statement to Excel the preview gives the opportunity to confirm that the appropriate pages have been selected and examine the extracted information prior to downloading the resulting file.
This is a basic but crucial checkpoint when it is about financial records.
The Export’s Shape should be determined by the destination
What are your plans regarding the sale?
Excel excel is a great tool for bookkeepers needing to review or sort information. CSV is the best option for data that is transferred to another system. Docubrew is also able to output QBO.
Someone who needs to convert bank statements into CSV for example it is possible to create CSV instead of creating a CSV instead of making an Excel workbook initially and manually changing formats afterwards.
Docubrew is compatible with accounting software such as QuickBooks®, Xero®, and FreshBooksas well as spreadsheet-based workflows.
Scanned paper statements can be used to be included in the same workflow
The conversion is possible on any PDF document, not only those that have been digitally made.
Some companies may have old statements which are available only in paper scans. Docubrew supports OCR for the PDF format of scanned statements and these documents can be processed well.
It is a great option in accounting historical projects, where certain documents have been digitized while others were scanned directly from paper. Instead of having two different workflows for the documents, they could be processed with the same process of conversion and reviewed before export.
Locally process or use the Cloud
It is crucial to contemplate the handling of documents, as well as their output.
Docubrew’s Windows desktop application processes conversions locally, storing client documents in the system. Cloud processing is available for those who prefer using browsers. Docubrew says that uploaded documents are protected and uploaded documents as well as the converted documents will be automatically deleted within 24 hours.
Converting a bank account statement to Excel does not have to be feeding every page of the PDF file hoping that it will be useful.
Begin by reading the pages that have the information you require. Review what information is being deleted. Select which format is appropriate for the next accounting task.
It’s possible to develop an efficient workflow for financial transactions by consciously processing less rather than processing more.