If you look through a long statement, you’ll typically find many more details than the ledger of transactions. There may be account summaries, notices, explanatory texts, disclosures, and other pages that provide information a bookkeeper actually needs.
If the goal is to move transaction data into a spreadsheet, or an accounting system, a thorough processing of everything may be a waste of time. To create a more focused workflow, determine those pages that are helpful prior to generating the output.
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The number of pages doesn’t necessarily mean More Useful Data
Think about a company reviewing several months of bank activities. While each monthly PDF may have at least ten pages however, only a small fraction of it will contain the accounting tables that are required.
Another option is to manually copy those tables, but this can be slow and may lead to typing mistakes. Businesses can instead convert bank statements to Excel and only include relevant pages.
Docubrew offers a preview of the page that allows users to review the PDF before deciding on what gets processed. Disclosures, cover sheets, and other pages that don’t need to be processed can be left out.
You’re in more control when you preview your first
Automation is only effective when you can see what it’s doing.
Rather than blindly processing an entire document, Docubrew lets users preview statements before they begin the conversion. It extracts figures directly from the original statement, instead of estimating financial figures.
The preview is a great method of ensuring that all pages are rightly selected and to go over the information gathered prior to download the final output.
It’s an easy checkpoint but an important one when financial records are involved.
The Export’s Form should be influenced by the Destination
What are your plans regarding the deal?
Excel excel is perfect for bookkeepers who need to analyze or sort the data. CSV could be a better choice if you are transferring the data to another system. Docubrew also supports QBO output.
Someone who requires to convert bank statements to CSV such as, for instance one can create CSV instead of creating a CSV instead of creating an Excel workbook first and manually changing formats later on.
Docubrew is compatible with accounting software such as QuickBooks®, Xero®, and FreshBooksin addition to spreadsheet-based workflows.
Scanned paper statements may be included in the same workflow.
Selective conversion doesn’t only apply to PDFs that are digitally created.
Some companies may have old statements which are available only in paper scans. Docubrew can scan PDF documents, like statements.
It can be very helpful for working on accounting historical projects, in which some documents have been digitally converted while others were directly scanned from paper. Instead of creating two different workflows, the documents are processed using the same process of conversion and reviewed before export.
Process locally or use the Cloud
The presentation of financial documents is just as important as how they are managed.
Docubrew’s Windows desktop software converts files locally, and stores client files on your computer. Cloud options are for users who would like to process documents via the browser. Docubrew claims that the cloud option deletes the documents that have been converted and uploaded within 24 hours.
Ultimately, converting a bank statement to Excel shouldn’t mean feeding every page of every PDF into a tool and hoping the output is useful.
Begin by reading through pages that contain the information you require. Check what is being extracted. Select the format that fits the next task in accounting.
Sometimes, a smoother financial workflow does not begin with processing more data or more, but by intentionally processing less.