If you look through a long statement, you’ll usually find many more details than the ledger of transactions. Account summary, notices, explanations texts, disclosures, and other pages that provide data a bookkeeper needs to have.
If the intention is to convert transaction data into a spreadsheet or accounting system, all the processing may be inefficient. To make a more targeted workflow, pinpoint those pages that are helpful before generating the output.
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More Pages Don’t Automatically Mean More Data Useful
Imagine a company reviewing the financial activity of a few months. The monthly PDFs can contain 10 or more pages, but only a fraction of the document will contain the required transaction tables to manage the accounting.
Manually copying these tables is one solution but it’s a slow process and can lead to typing errors. Businesses can convert bank statements into Excel but only on the relevant pages.
Docubrew’s page preview lets the user to view and decide what data to process. Disclosures, cover sheets, and other pages that don’t need to be processed can be omitted.
You have more control when you preview first
Automation is most effective when the person who is using it can inspect what’s happening.
Docubrew allows users to preview the pages of the statement prior to completing conversion. Docubrew extracts information from the source statement instead of estimating financial values.
The preview is a fantastic method of ensuring that the pages have been properly selected and to look over the data you’ve extracted prior to download the final output.
It’s a straightforward but important checkpoint when it is about financial records.
The Export should be shaped by the destination
What are your plans regarding the transaction?
Excel is a great tool when an accountant needs to sort the data, look over rows or manipulate the data. CSV could be a better choice when you’re trying to transfer the data from one system to another. Docubrew is also able to output QBO.
Anyone who wants to convert a bank statements to CSV such as, for instance one can create CSV instead of creating a CSV rather than creating an Excel workbook in the beginning and manually changing formats following that.
Docubrew output can be used with accounting platforms like QuickBooks, Xero and FreshBooks as well as spreadsheets.
Scanned papers can be able to be seamlessly integrated into the workflow
Selective conversion doesn’t only apply to PDFs created digitally.
Some companies may have old statements that are only available in paper scans. Docubrew is able to process PDF scanned documents, including statements.
It can be extremely useful in accounting historical projects, where certain documents were digitized, while others were printed directly on paper. Instead of creating two different workflows, documents could be processed using the same process of conversion and checked before export.
Process Locally Or Use the Cloud
How financial documents are handled matters as much as the result.
Docubrew’s Windows desktop software converts files locally, and keeps client files on your computer. Cloud processing is offered to users who prefer processes that are based on browsers. Docubrew says that uploaded documents are secure and transferred documents and documents will be automatically deleted 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 looking at the pages that have the information you need. Review the information being extracted. Then choose which format is appropriate for the next task in accounting.
A more efficient financial workflow could begin with less processing, but rather by deliberately taking care to process less.