Downloading and analysing your monthly bank statement is an essential part of financial management. You can monitor your spending, income, account balances, and transactions using bank statements. While many banks offer PDF downloads of bank statements, working with data in PDF format can be challenging. The conversion of PDF bank statements to Excel spreadsheets facilitates the organisation, analysis, and manipulation of financial data. In this article, we will demonstrate how to convert PDF bank statements into Excel format.
Collect Your PDF Financial Statements – You must first access your PDF bank statements. The majority of banks permit customers to log in to online banking and obtain statements from prior months and years. As some bank websites have limited PDF downloading capabilities on mobile, you may need to access your account from a desktop computer to download comprehensive PDF statements. Download the PDF statements that you wish to convert to Excel format. Having the files stored on the hard drive of your computer will facilitate the conversion process.
Install software for converting PDF to Excel – There are numerous software options for converting PDF files to Excel spreadsheets. Look for a PDF to Excel converter that permits you to convert multiple PDFs in bulk. This will allow you to convert all of your bank statements to PDF format simultaneously.
Transform Your PDF Financial Statements – Launch the PDF to Excel converter software. Import or launch the PDFs of the bank statements you wish to convert. You may be able to select and add multiple PDFs at once, depending on the tool. The software will analyse and scan PDF files. It may be necessary to allocate additional time for the processing of larger documents. The tool will convert bank statement PDF to Excel spreadsheets after processing. The formatting of tables and columns should be preserved. The majority of tools permit you to save the converted Excel files to your computer.
Save Your Excel-to-Excel Converted Statements – After converting your bank statement PDFs to Excel, access the Excel files to ensure the conversion was successful. Examine the documents for formatting and data errors. Once you’ve confirmed that the converted statements are accurate, save the Excel files to a financial documents subdirectory on your computer. Given the sensitive nature of bank statement data, be sure to secure your computer with a password and encrypt the statement files. Additionally, you may wish to back up the files to external storage or a cloud account.
Improve and Organise Excel Statements – One of the advantages of converting bank statements to Excel is the ability to more easily organise and analyse statement data. Among the methods for enhancing converted statements in Excel are:
Using filters and categories, sort transactions by date, amount, category, and so forth.
Add formulas or calculations for monitoring expenditure patterns, budgets, etc.
Mark or emphasise specific transactions
Separate data into individual worksheets by year or month
Add graphs and infographics to illustrate spending patterns.
Utilise pivot tables to aggregate and filter transactions dynamically.
Compare statements side-by-side or from one year to the next.
By organising your converted bank statements in Excel, you can monitor your finances more efficiently and gain valuable insights into your spending behaviour over time.
Automate the Downloading and Conversion of New Invoices – Once you have converted your historical PDF bank statements to Excel, you will need to convert new statements every month. Instead of repeating the manual procedures month after month, consider automating the process. Your PDF to Excel converter software may include tools for automating repetitive tasks. Alternately, you can use a Power Automate flow that automatically extracts your most recent statement PDF each month, converts it, and saves the Excel file in your financial documents folder. By automating this recurring task, you can save time.
By following these methods, you can convert your PDF bank statements to Excel spreadsheets that are simple to use. Converting to Excel opens up numerous opportunities for organising, analysing, and manipulating financial data. By converting new PDF bank statements to Excel, you can save time each month and remain on top of your financial management if you have the right tools and setup.