If you go through a lengthy statement, you’ll usually find many more details than the ledger of transactions. There are account summaries and notices as also explanatory texts as well as disclosures and other pages that surround the information needed by an accountant.
When the only goal is to import transaction information into an accounting system or spreadsheet It may not be essential to go through everything. To ensure a streamlined workflow, pinpoint those pages that are helpful before creating the output.
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The number of pages doesn’t necessarily mean More Data Useful
Imagine a company reviewing the banking activities of a number of months. While each monthly PDF might contain 10 or more pages, only a small portion of it includes the accounting tables needed.
Manually copying those tables is a solution but it’s a slow process and could lead to mistakes in typing. Businesses can instead convert bank statements to Excel while restricting the conversion to specific pages.
Docubrew has a page preview feature which enables the user to browse and select which pages are processed. You can also remove disclosures, cover sheets, as well as other pages.
You are more in control when you preview your first
Automation is most beneficial when the person who is using it can monitor what’s happening.
Rather than performing a complete document conversion, Docubrew lets users preview statements before beginning the conversion. The software extracts figures from the original statement, instead of estimating financial value.
A preview is a great way to ensure that all pages are selected correctly and to review the information gathered prior to download the final output.
It’s a basic checkpoint but an important one when financial documents are involved.
The destination should determine the Export
The next question is what you’re planning to do with the transaction.
Excel is a great tool when bookkeepers need to sort the data, look over rows, or modify the data. CSV may be a better choice when you’re trying to transfer the data from one system to another. Docubrew also 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 output can be used with accounting platforms like QuickBooks, Xero and FreshBooks and spreadsheets.
Scanned Paper Statements can be a part of the same Workflow
PDFs created digitally aren’t the only document that can be transformed.
Some businesses only have paper copies of older statements. Docubrew can scan PDF documents, like statements.
This can be useful for bookkeeping that is based on historical data where the most recent statements were digitalized, but older records were scanned off paper. Instead of creating two separate workflows, documents can be processed using the same general conversion method and reviewed before being exported.
Processing locally or using the Cloud
The final output of financial records is just as important as how they are managed.
Docubrew’s Windows Desktop application can convert documents locally on the client’s PC. For those who prefer web-based processing, the cloud option encrypts uploaded documents and, according to Docubrew, automatically deletes the files that have been uploaded and transformed within 24 hours.
The bottom line is that converting a bank statement into Excel doesn’t have to mean loading every page of a document into an Excel tool and hoping that the output is beneficial.
Begin by reviewing the pages with the information you require. Go over what’s being taken. Then, choose the appropriate format to meet the next accounting task.
A more efficient workflow for financial transactions can begin not with more processing however, it is by intentionally doing less.