Our Bank Statement Extraction feature is a great tool to help you with the conversion of Bank Statements and Credit Card statements. You can export the data into your accounting software to reconcile your accounts.
This article explains how the feature works and how to get the best results.
Here is a quick video overview of how to get started. Scroll down for in-depth text instructions.
Upload your statements
Each folder has a subfolder where you can upload your Bank Statements and Credit Card Statements.
In the header, choose Bank Statements in the dropdown menu:
Click on the Import button to start uploading files for processing:
Choose PDF files from your computer that you wish to upload for processing:
Export your bank data
In the Bank statements subfolder you will find a list of your statements. By default Datamolino opens the subfolder in the All Files tab that gives you a list of documents in all states of processing. Click on the Ready To Export tab to see only statements that have no issues and are ready for export.
You can export the data individually, merged into a consolidated file or as a filtered part of a single statement:
Export multiple statements into one file
Click the checkboxes for the statements that you wish to export and click Export to CSV. This will consolidate the transactions of all the selected statements into one CSV file. The file will include rows with the Bank Name, Account Name and Account Number in addition to the transaction data.
Alternatively, click on the downward arrow of the Export button and select "Export single statements to ZIP". This will create a .zip archive file that includes the individual statements as separate CSV files.
Export a single statement from document detail
When viewing the bank statement, you can click Export to CSV to export the single statement.
Export a filtered part from a single statement
In the document detail you have a search field and date filters. When you click on Filter it will allow you to download the filtered transactions into a separate CSV file.
This is useful if you are working with a consolidated statement that includes a large date range but you need only transactions for a distinct time period.
The extraction process
Extraction time
The process can take up to 24 hours to complete during business days. The process may take longer if processing falls on the weekend. Overall, most our statements are processed on the same business day.
Digital or native PDFs will result in a faster extraction.
Extraction quality
For best results upload files that are complete and legible, scanned at minimum 200dpi quality.
You get best results if you upload each statement in a single PDF file that includes the opening and closing balances to validate the transactions.
Datamolino will also process hand annotated statements if the annotations do not interfere with the extraction process.
Duplicates
If you upload the same PDF into a folder it will be marked as "File Duplicate" and will not be processed.
Error messages and Troubleshooting
Datamolino always tries to extract all the table data that is related to the transactions on the bank statements or credit card statements. If you upload documents that are missing pages, have pages in the wrong order or that are missing some data, you will get an error message with a clear explanation.
Datamolino currently has two levels of errors:
Review required
Failed extraction
Review required
Review required - this means that we were able to capture all vital data present on the document. The error message inside the document will explain in detail what went wrong.
The status icon in the document list will explain that there has been an issue with the statement:
In the document detail you will see an in-depth error message. You can click the "Mark as Ready" button to change the document to status "ready".
Failed extraction
Failed - this means that the issues on the document could not be overcome. Datamolino will give you the data that has been captured so you can attempt to repair it in your spreadsheet processor. The error message inside the document will explain in detail what went wrong.
The status icon in the document list will have a Failed status in red:
In the document detail you will see a red error message. You can still export this file to CSV to review it in your spreadsheet program and repair if possible:
Common issues
Sometimes the uploaded files have pages in the wrong order, some key data is missing, the scan quality is low or there is some other issue preventing correct data capture.
The most common issues are:
Statements that do not have a page with the Opening Balance and Closing Balance that would allow the system to verify the sum of transactions.
Statements with a low scan quality of with a high compression that cannot be accurately read by our extraction software.
Excessive amount of handwriting in date columns and numerical columns that interfere with the printed text.
List of error messages:
Opening and closing balances are missing
Opening and closing balances are missing
Datamolino has made the best effort to extract all table data from the uploaded file. However, the document lacks the opening and/or closing balances needed to validate transactions. To resolve this, please upload a document containing these balances.
Tally check failed
Tally check failed
The sum of transactions doesn't match the closing balance. Please check if any pages are missing and re-upload. Datamolino has made the best effort to extract all table data from the uploaded file.
Document unreadable
Document unreadable
Document is unreadable due to poor scan quality or handwriting. Review the extracted data manually or upload a clearer copy. Datamolino has made the best effort to extract all table data from the uploaded file.
Document not supported
Document not supported
This document is not a bank statement or credit card statement.
Document is incomplete or inconsistent
Document is incomplete or inconsistent
The pages are not in correct order, the file contains pages that we could not identify, or the file is missing pages. Datamolino has made the best effort to extract all table data from the uploaded file.
What files are supported
We support PDF files with these parameters:
Minimum scan quality is 200 dpi
Individual files with a maximum of 25 pages
File size limit is 25MB