Check a long bank statement and you’ll find more than the transaction ledger. Account statements, explanations, and notices and disclosures could be a part of the essential information that an accountant needs.
If your sole objective is to import transaction information into an accounting or spreadsheet system then it isn’t essential to go through all of the data. A more focused workflow starts with identifying the most useful pages before creating the output files.
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The number of pages doesn’t necessarily mean that more valuable data is available.
Have a look at a business that is reviewing its banking activities for several months. While each monthly PDF can contain at least ten pages however, only a small fraction of it has the tables necessary for accounting.
Manually copying these tables is a solution however, it’s not fast and opens the door to mistakes in typing. Businesses can instead convert bank statements to Excel while limiting the conversion to relevant pages.
Docubrew’s page preview allows the user to view and decide what data to process. You can eliminate the cover sheet, disclosures, or other pages you do not require.
A Preview First gives You More Control
Automation is most beneficial when the person who is using it can observe what’s going on.
Rather than blindly processing an entire document, Docubrew lets users preview statement pages before completing the conversion. Docubrew relies on the original document to extract data instead of making an attempt to estimate the financial value.
This preview lets you verify that the correct pages are chosen, and to look over the extracted data before downloading.
The checkpoint is simple however it’s crucial when dealing with financial records.
The Export’s Form should be influenced by the Destination
In the next step, you will be asked what you intend to conduct with your transactions.
Excel is very useful when bookkeepers need to sort data, examine rows, or alter the data. CSV is the best option in the event that the data is moving into a different system. Docubrew can also output QBO.
If you want to convert their bank statement to CSV can do this by creating CSV files. CSV file, instead of first creating an Excel document and then manually changing the format.
Docubrew’s output was designed to work with accounting platforms like QuickBooks, Xero, and FreshBooks along with spreadsheet-based workflows.
Scanned paper statements are able to be included in the same workflow
PDFs created digitally aren’t the only documents that can be transformed.
Sometimes older statements are just accessible as scans of paper. Docubrew allows OCR for scanning statements in PDF format and these documents are able to be processed well.
It is extremely helpful when working on historical accounting projects where certain records have been digitally converted while others were printed directly on paper. Instead of creating two different workflows, documents are processed by the same conversion process and then reviewed prior to export.
Processing Locally or in the Cloud
It is important to consider the handling of documents, as well as their output.
Docubrew’s Windows Desktop application converts documents locally to the client’s system. If you’re a fan of browsing-based processing, the cloud option encrypts uploaded documents and, according to Docubrew, automatically deletes deleted and modified documents within 24 hours.
Converting bank statements into Excel does not have to be feeding each page of the PDF file hoping it will prove useful.
Begin by looking at the pages that contain the information you require. Examine what is being removed. Choose the best format for the next accounting task.
It’s possible to create more efficient financial workflow by consciously processing less instead of processing more.