There’s a lot more on an extensive bank statement than simply a transaction ledger. Account summary, notices, explanations texts, disclosures, and other pages surrounding the information that a bookkeeper requires.
The processing of all data isn’t essential if the task is to transfer transactional data into an accounting system or spreadsheet. To ensure a streamlined workflow, pinpoint those pages that are helpful prior to generating the output.
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It’s Not Meant to Mean More Data.
Look at the company that is looking over its banking operations over a period of months. While each monthly PDF could contain at least ten pages however, only a small fraction of it will contain the accounting tables needed.
One solution is to copy the tables, however this could be slow and can cause typing mistakes. Businesses can instead convert bank statements to Excel while limiting the conversion to relevant pages.
Docubrew offers a preview of the page that lets users review the PDF and decide which pages are processed. It is possible to remove disclosures, cover sheets, or other pages you don’t require.
You’re in more control when you preview the first time
Automation is only useful when you can observe what it’s doing.
Rather than blindly processing an entire document, Docubrew lets users preview statements before beginning the conversion. The software extracts the figures directly from the original statement rather than estimating financial figures.
The preview is a great method to check that all the pages are rightly selected and to go over the data you’ve extracted prior to download the final results.
This is a simple but vital checkpoint when it comes to financial documents.
The Export’s Shape should be determined by the destination
The next question is how you’re planning to accomplish with the transactions.
Excel is great for bookkeepers who have to review or sort the data. If the data will be transferred into another system, CSV may fit the workflow better. Docubrew can also output QBO.
A person who wants to convert their bank statement to CSV can do this by generating a CSV file, rather than first making an Excel document and then manually changing the format.
Docubrew is compatible with accounting software, such as QuickBooks®, Xero®, and FreshBooksas well as spreadsheet-based workflows.
Scanned Paper Statements Can Join the same Workflow
Selective conversion doesn’t only apply to PDFs created digitally.
Some businesses only have documents on paper that are older than the statements. Docubrew can support OCR for the PDF format of scanned statements to ensure that these documents are able to be processed as well.
This is useful to keep a historical record of bookkeeping in which the most recent data was converted to digital format, while older documents were scanned off paper. Documents could be converted by the same method, and then reviewed before exporting.
Locally process or use the Cloud
It is crucial to think about the handling of documents as well as their output.
Docubrew’s Windows Desktop application can convert documents locally on the client’s personal computer. Cloud processing is available to users who prefer to use browser-based processes. Docubrew says that uploaded files are encrypted and the uploaded documents and converted documents will be deleted automatically within 24 hours.
The last step to convert an account statement from PDF into Excel isn’t to put every page into the tool in hopes of getting a useful output.
Begin by reading the pages that have the information you need. Examine what’s being extracted. Choose the format for the next accounting task.
It is possible to design a a more efficient financial workflow through the deliberate process of processing less rather than processing more.