Objective

This article will give you an introductory overview of AutoEntry's Bank Statements folder, including the following:

  1. What Data does AutoEntry Capture from Bank Statements?

  2. What is the Cost of Bank Statement Processing?

  3. How to Upload Bank/Credit Card Statements

Applies To

  • Bank/Credit Card Statements uploaded via the desktop website (these cannot be uploaded via the mobile app or email).

Procedure

AutoEntry can extract the data from Bank Statements including Credit/Debit Card statements and Paypal statements. This is so that you can import the data to your accounts package. Especially brilliant if you don't have an automatic bank feed available from your bank direct to your accounts, or if you have a client who simply just prefers paper.

We accept scanned copies of paper statements and downloaded .pdf files from online banking accounts (NOT photos or screenshots). Once uploaded and processed the statements are then available for download to an excel file or specific .csv file for upload to a number of accounting packages. AutoEntry even checks and verifies the figures to ensure accuracy.

Removing all the time spent on manually entering bank statement data into excel or your accounts package!

It is also possible to apply payments/receipts analysis (category accounts and payees) to statement lines via the Fast Code Transactions feature too (for QuickBooks Online and non-integrated companies only).

1. What Data does AutoEntry Capture from Bank Statements?

From a set of bank or credit card statements, AutoEntry extracts:

  • Account Number

  • Date

  • Description

  • Debit

  • Credit

  • Balance

  • Cheque number (if applicable)

Please note, while we verify the figures and conduct checks to ensure the figures are correct before returning the data to you, we cannot guarantee the descriptions will be 100% perfect.

AutoEntry does not allocate any tax/nominal codes for bank statements. This would be something a user can add within the exported excel/csv file after extraction.

2. What is the Cost of Bank Statement Processing?

Due to the higher level of extraction required for bank and credit card statements, the charge for processing is 3 credits per page.

The actual cost per page will depend on your subscription where the larger subscriptions benefit from a cheaper cost per credit.

Our package prices are available on our website, or for bespoke packages and pricing details, you can contact us and one of our team would be happy to go through it with you.


3. How to Upload Bank/Credit Card Statements

On the top right corner of your screen, you can click the + Upload Document button at any time.

A pop-up upload window appears where you can select and submit statements after selecting the company and folder you are uploading to.


Note the recommended scanner settings if scanning paper statements. This greatly enhances the accuracy and reduces the turnaround time for processing.

See 'Bank Statement Project' for an explanation of the projects function.

As the files are being uploaded, the progress bar indicates that the file is being uploaded.

Once the upload is complete, the upload window can be closed. We now have the files and processing will start automatically.


The Activity page will show that the file has been successfully uploaded and a banner notification will appear in the Bank Statement inbox to let you know that the files have been received and are being processed:


Additional Information

  • We cannot verify or guarantee descriptions are extracted 100% accurately. All pages uploaded consume 3 credits per page irrespective of there being transactional data on the page or not. Non-Transactional pages should be removed before uploading the file to AutoEntry.

  • Further guides on Bank Statement extraction can be found on our Help Center here.

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