Converting bank statements into Excel or CSV can be automated with Datamolino. All you need is a PDF or scanned bank statement and Datamolino will find and validate the bank transaction lines and prepare a file that you can easily upload into your accounting software (Xero or QuickBooks). This is possible for both electronic PDFs and scanned paper copies of bank statements.
Datamolino captures the following data for each bank statement:
- transaction date
- transaction description
- transaction amount for debit / credit
Datamolino then validates the transaction data as follows:
- Amount Tally – we check if the debits and credits add up the to difference of opening and closing balance.
- Date Tally – we check if the transaction dates are within the range of start and end date of the bank statement
You can read more detail about how Datamolino handles the conversion of bank statements into CSV in our helpdesk.
Why Use Datamolino for bank statement conversion?
- Convenience: Direct bank feeds aren’t always available, and manual data entry from PDF or scanned statements is time-consuming.
- Efficiency: Datamolino automates the conversion of bank statements into a format that’s easily imported into accounting software.
Steps to Convert Bank Statements into CSV or XLS using Datamolino:
1. Upload your bank statements into Datamolino
- Navigate to the “bank statements” subfolder in Datamolino
- Click import and choose the bank statement PDFs that you need to convert into CSV
- Datamolino supports scanned bank statements and electronic PDFs
- You do not need to specify up-front which bank has issued the statement. Datamolino will work with any bank statement out there.
Navigate to the bank statements subfolder:
Navigate to the bank statements subfolder
Upload bank statement PDFs that you want to convert:
Upload bank statement PDFs that you want to process
2. Datamolino validates the extracted data
Datamolino validates if the debits and credits match the opening and closing balance of the bank statement and validates if all data is correct. If there is an issue with the file the system will let you know.
The system always gives you the transaction data that was captured. The error message will let you know if there was a problem with the original file. It can happen that the original statement PDF was missing pages or some data was not legible.
Get a detailed error message if validation fails:
Get a detailed error message if validation fails
3. Datamolino automatically extracts all transaction lines from the PDF
Datamolino automatically extracts the bank statement details such as account name, account number and time period of the statement. It also extracts all tabular data from the statement such as transaction date, description, debits and credits.
Your bank statement data is ready for export:
r bank statement data is ready for export
Document detail showing the extracted bank statement:
Document detail showing the extracted bank statement
4. Download the transaction data in CSV format
You can download the captured data in three simple ways:
- Download all data from a single bank statement.
- Filter the data inside a single bank statement and export only the filtered subset of data that you require.
- Merge multiple bank statements into one CSV export and optionally specify the time period (to include only relevant date range in the bulk export)
One click export of bank statement data:
One click export of bank statement data
Filter data by text or date and export only relevant transactions:
Filter data by text or date and export only relevant transactions
Bulk export multiple bank statements into a single CSV and choose date range:
Bulk export multiple bank statements into one CSV and choose date range
5. Import the data into your accounting software
Follow the instructions of your accounting software on how to best import a CSV or Excel file into the bank statements section. If you need help or would like Datamolino to create a different file format for the resulting bank statement, please reach out to our support team.
Uploading bank statement transactions into Xero is very easy using this method.
See our Bank Statement Conversion product page for more details and pricing.
