Bank Statement Extraction Software for Accounting Teams
StatementsConverter extracts transactions from bank and credit card statements, organizes them by client and account, and proves each statement balances before anyone posts a single row.
Extraction that ends in a ledger, not a spreadsheet dump
Pulling text out of a PDF is the easy part. The hard part is knowing that the rows you pulled are complete, correctly signed and in the right account and period. That is what this software is designed around.
How it differs from a generic PDF to Excel tool
General converters treat a statement like any other document. They copy text by position on the page, so the output looks right until you total it.
- A description that wraps to a second line becomes a new transaction with no amount
- A deposit and the fee under it are merged into one row with two numbers
- Minus signs and CR suffixes land in their own column or disappear
- Page headers repeat as rows in the middle of the table
- Nothing tells you any of this happened
Statement extraction works from the structure of a statement instead: an opening balance, a list of debits and credits, a running balance and a closing balance. Because it knows what the totals should be, it can tell you when they are not.
Fields extracted from each statement
Per transaction:
- Date as printed, normalized to one date format across the batch
- Full description, including second and third lines
- Check number, when the bank prints one
- Debit and credit amounts in separate columns
- Running balance, when present on the statement
- Suggested category on Professional and Business
Per statement:
- Bank name, account type and last digits of the account number
- Statement period start and end
- Opening and closing balance
- Balance check result and any flagged page and row range
Batch processing organized by client
Firms rarely convert one statement. A typical job is a year of statements for one client or the current month for every client on the books. Uploads of up to 200 files at a time on Business are split by account and sorted by period, and each batch lives inside the workspace of the client it belongs to.
A batch view shows every statement with its period, page count and check result, so you can see at a glance that January through December are present, that one month is missing, or that March did not balance. On Professional you can keep 25 client workspaces, on Business there is no limit.
A review workflow instead of proofreading
Nobody should read every row of every statement. The workflow points you at the few rows that need a human.
- Statements that balance are marked as ready and can be exported straight away.
- Statements that do not balance open on the flagged range, with the page image next to the rows.
- You edit, split, merge or flip the sign of the affected rows, and the check reruns.
- When every statement in the batch is ready, export one file per statement or one merged file per account.
Review time drops because attention goes where the numbers disagree, a point also made on the bank statement to Excel software overview.
What comes out the other end
Extraction feeds every format a firm uses: XLSX and CSV on every plan, plus QBO, QIF, OFX and Xero CSV on Professional and Business. Teams that want rows inside their own system rather than a file use the bank statement parser API on Business.
Who it is for
- Bookkeeping firms catching up clients whose bank feeds are broken, missing or never set up
- CPA firms preparing year end and tax work from PDF statements
- Controllers handling secondary banks, foreign branches and closed accounts
- Loan processors and underwriters reading months of applicant statements, covered on the bank statement analysis software page
- Forensic accountants and litigation support teams rebuilding long transaction histories
It is not a general document scanner. It reads bank and card statements, and it reads them with the totals in mind.
Does extraction need a template for each bank?
No. The reader works from the layout of each statement rather than a fixed template, so new banks and redesigned statements do not need setup.
Can extraction handle scans as well as digital PDFs?
Yes. Scanned PDFs and phone photos are read on every plan, and the balance check is especially useful there because it catches misread digits.
How do you prevent duplicates when the same file is uploaded twice?
Statements are identified by account and period, so a second copy of the same month is pointed out in the batch view before export.
Where does the extracted data go after export?
Files stay in the account until they are deleted automatically, after 24 hours by default. Nothing is used for model training.
Extract, check and post with confidence
Create your account, open a workspace for your first client and upload the statements you have been putting off.