Rather than manually copying each line of your clients’ Bank Statements into their accounting software, you can use Receipt Bank to automatically extract data from a .pdf Bank Statement and present it in a spreadsheet or .CSV download format. This process can take up to 2 working days to complete.
How to Submit Bank Statements for Processing:
1. Make sure that set up a Bank Account for the statement that you want to upload
2. Click on the Bank section of the menu
3. The Bank section is split into 3 pages, Collected Statements, Processed Statements, and Transactions. You are able to Add Bank Statements in both the Collected Statements or Processed Statements pages.
4. Click on the green Add Bank Statements button and follow the instructions
NOTE:
- Bank Statements from multiple accounts should not be appended together in a single upload file.
- The file should not contain statement images captured with a camera. Scans or original digital copies only.
- The file should not be made out of data from multiple sources (e.g. half the pages are scans of postal copies and half are online downloads. Or the pattern of data is not consistent)
- The statement should not have an excessive amount of handwriting in the numerical columns. Ticks and infrequent annotations are generally accepted.
- A list of supported banks can be found here
4. Once you’ve uploaded a Bank Statement, it will be available to view in the Collected Statements tab of the Bank page. Uploaded Bank Statements are automatically added to the processing queue, during which all of the associated Bank Statement data will be extracted. This process can take up to 2 working days to complete.
How to Download Bank Statement Data:
1. When uploaded Bank Statements have finished the extraction process, they will be moved to the Processed tab of the Bank page.
2. You can download the Bank Statement data by pressing the Download button. You can download the original bank statement that was uploaded to Receipt Bank by clicking the hyperlink in the Source ID column.
NOTE: You can choose the download format for Bank Statements by navigating to the Profile section of the Manage menu and clicking on System Settings then you have the option of choosing between the four available formats:
- Standard Receipt Bank Excel: Default .xlsx file with all extracted data
- Xero CSV: File format optimised for upload into Xero
- QuickBooks Online CSV: File format optimised for upload into Quickbooks Online
- Sage 50 UK CSV: File format optimised for uploading to Sage 50 (UK Only)
NOTE: If you notice errors in the data extraction of a bank statement, click 'Report Mistake'. This will resubmit the bank statement for extraction.
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