Financial Records – managing them efficiently is a challenging task for small businesses. Among these financial records are old salary sheets and payroll records. Today, many businesses have opted for modern payslip solutions. But sometimes businesses come into need of old records. Like for tax calculations, audits, or just verifying payments.
However, manually doing this all with physical documents is difficult and time-consuming. But there’s a simple solution to it – Digitization.
By converting salary records into modern formats, i.e., Excel spreadsheets, you can do the job with ease. Want to learn how? Read along.
Why Digitize Old Salary Sheets?
Old salary sheets are not the historical data that one can forget about. They are critical documents in certain cases, such as
- Tax filing
- Compliance audits
- Future decisions
- Expenditure cutdown
- Incentives and promotions
For businesses, keeping these records organized and accessible is essential. However, relying on stacks of paper records or non-editable scans creates inefficiencies.
Let us simplify this with an example.
For quick sales estimates or pricing adjustments, especially when dealing with historical compensation figures, using a sales tax calculator can save time and reduce errors.. But the data is based on an old salary register. Manually inputting the data into the tax calculation solution you are using can be very time-consuming. Plus, one wrong input of value can lead to big financial trouble for you.
This is the problem that you can combat by digitizing salary sheets. By digitizing them, you can both improve accessibility and operational efficiency.
Digitization – Editable vs. Non-Editable Formats
When it comes to digitizing financial records like salary sheets, there are two main approaches you can opt for.
I. Non-Editable
The non-editable approach involves taking pictures or scanning the records into non-editable PDFs or image formats. They serve as a reliable storage method.
Using this approach, you can preserve the original look and details of documents. However, their utility is limited, especially when there is a need to edit, extract, or analyze the data easily.
II. Editable
The editable digitization approach goes a step further. Using it, you can convert data into formats such as Excel. This lets you do direct editing and calculations.
Editable formats make tasks like tax assessments and auditing seamless. They enable you to interact with the data instantly. This is where tools like Image to Excel converters come into play. They let you transform static images or PDFs into fully editable spreadsheets.
Using Image to Excel Converter for Salary Sheets
Image to Excel Converters – advanced tools that are powered by modern technology. Whatever technology is involved, it can turn any text inside images into editable Excel sheets, complete with rows and columns.
Below, we are going to demonstrate how you can digitize your salary sheets using the said converters.
For demonstration purposes, we performed a random search for “Image to Excel converter” on Google. After testing some tools, we picked up JPG to Excel tool because of its reliability and output performance.
1. Take Images of Sheets
Gather all your old salary sheet records you want to digitize and take clear pictures of them. Ensure they are in excellent condition, especially if they are paper-based. The purpose is to minimize inaccuracies during capturing or scanning.
2. Upload Images
Next, open the JPG to Excel converter tool and upload the images of your salary sheets. There is no need to worry about image format, as the tool accepts JPG, PNG, JPEG, and many more.
To show you, we uploaded the image of an old-school salary sheet and pressed the convert now button to initiate the process.
You have to do the same to perform the conversion. Hopefully, the tool will provide you with output in seconds.
3. Review and Download
Once the conversion is completed, you’ll see a preview of the Excel sheet in front of you, like in the image shared below.
This feature will help you in verifying whether the conversion is performed accurately or not. Upon reviewing, if you are satisfied enough that the conversion is accurate, click on the download icon in the top right corner of the toolbox to save the file.
We did the same thing, and below is the image of the Excel sheet we got after this conversion. Have a look at it for yourself, see how perfectly the data is organized into rows and columns. Now, you can easily use this data for calculations, assessments, etc.
Final Talk
Digitizing old salary sheets can be very beneficial for your business. Don’t get bogged down by outdated processes. Using an image to Excel converter, you can turn manual sheets into digital ones with ease. For the seamless experience, follow the steps we have discussed in this blog post above. We hope that they’ll be beneficial for you in this transformation.