Learn How To Organize Bank Statements in Excel

Bank statements are files from the bank that list all the transactions happening in your bank account in a month. It includes how much went into and out of your account, your outstanding balance, how much you can borrow, and more. It's wise to compile the data in a spreadsheet so you can better understand the flow of your money. It will also help you budget. So, in this article, we will teach you how to organize bank statements in Excel.

As a bonus, we will teach you how to convert a bank statement from PDF to Excel using Wondershare PDFelement. You can also use this tool to manage and organize your bank statements if you want to.

Part 1. How To Organize Bank Statement in Excel?

Banks format bank statements in a way that you can easily understand them. Still, it's not as easy as reading a nursery rhyme. That's especially true when you are trying to see if there were any inconsistencies - figures that do not match with the ones in your last bank statement.

That is why it is recommended that you organize your bank statements in Excel. You can have data from the previous bank statements side by side in one document. You do not have to switch between different files, which can make some people dizzy.

Part 1.1. How To Make Bank Statement in Excel by Converting a PDF

Here's the thing. Most banks send statements in PDF. But do not worry. You do not need to manually encode the data from the PDF into an Excel file. Tools like Wondershare PDFelement allow you to convert them. And, with Wondershare PDFelement being as user-friendly as it is, you will not have trouble doing so.

Wondershare PDFelement's Convert feature allows you to import PDFs into the tool and convert them to other formats. That includes all Microsoft Office formats, like Excel. The converter is powerful. It has OCR, which is extremely helpful when the bank statement is not editable. Indeed, most of the time, it is not editable because of security measures.

Additionally, an option in Wondershare PDFelement lets you combine all PDF pages into one Excel sheet instead of in different sheets. With this, it is even easier to understand the document's contents.

 Here is a guide on how to use Wondershare PDFelement's Convert feature.

1. Open Wondershare PDFelement > click Convert PDF.

2. Select your bank statement.
3. Set Excel(*xls) or Excel(*xlsx) as the Output format.

4. Optionally, click Settings to activate or deactivate extra converter features like OCR.

5. Specify the Output folder and File Name that you want.
6. Click OK.

Alternatively,

1. Open your bank statement using Wondershare PDFelement.
2. Go to the Convert tab.

3. Click To Excel.

4. Optionally, click Settings and turn additional settings on or off.
5. Add your desired File Name and Output Folder.
6. Click OK.

Note: You can also use Wondershare PDFelement's other features. For example, you can use the Combine PDFs feature to merge several bank statements into one before converting to Excel. Alternatively, you can use the Batch Convert feature to convert them in one go while keeping them as separate files.

Part 2. How To Edit and Make Bank Statement in Excel?

You do not convert the file and call it a day. Remember, PDF and Excel are two different formats, and they aren't as alike as PDF and Word are. Excel is a spreadsheet - everything is strictly contained in rows and columns of cells. PDF is not like that. Therefore, after the conversion, the format may become different. It is on you to edit the file to make it more comprehensible and intelligible.

Here's what you need to do.

Part 2.1. How To Edit Bank Statements in Excel: Organizing the File

You need to clean or organize the Excel file. The data from the PDF may appear starting on a random cell. Needless to say, you do not want that. You will spend lots of time trying to figure out where things are. The exact reason why you are organizing your bank statement in MS Excel is so that you can avoid that.

1. Start by naming the columns: Label, Figure, etc. These will go on row 1.

2. One by one, move the data so the records start at row 2. Be sure to check the original bank statement to ensure the records match, and no figure will be misplaced.

Part 2.2. How To Edit Bank Statements in Excel: Converting to Tables

To make the spreadsheet even more comprehensible, you can use PivotTables. PivotTables are great for data summarization, analysis, and comparison. You can add columns and rows, change the layout, and customize the table without updating the source data.

Furthermore, PivotTables are easy to use. You can move the fields to arrange them in a way that is easy for you to understand. So if you are going to organize your bank statements in Excel, it is necessary to learn how to use this important tool.

1. Open your formatted bank statement in Microsoft Excel.
2. Click Home > Format as Table.

3. Select a table style and click OK. The records in the PDF will now be in a table.
4.  Click Summarize with PivotTable > OK.

5. On the right-side panel, pull the "Description" or "Category" or the equivalent column in your bank statement file. Drop it in the "Rows" box.

6. Pull the "Money Out," "Money In," "Borrowings," "Sum of Credits," "Sum of Debit," etc., and drop them in the "Values" box.
7. Suppose you want to compute the total or difference of debits and credits or perform other computations. Use a Calculated Field. (We will not cover this here, as it is a topic of its own.)

Conclusion

It is essential that you analyze your income and expenses. By doing that, you can do intelligent budget planning. You would be able to calculate how much you can spend and have to save so you would not be buried in debt. The best way to do that is by organizing your bank statements in a spreadsheet like Excel.

Wondershare PDFelement can help you with that. It can convert your bank statements from PDF to Excel. With its powerful converter and editor, Wondershare PDFelement can convert even scanned/non-editable PDFs to Excel files. Also, it offers a batch converter that can turn multiple bank statements into Excel files with just a few clicks. With its vast set of features, Wondershare PDFelement is a tool that can help you organize your bank statements.