Converting PDF bank statements to Excel or CSV can be complicated and time-consuming. A simple copy-paste from PDF documents will just now work! This is to be expected because bank statements are designed to be tamper-proof.
But you can convert bank statements to Excel or CSV with Nanonets. Nanonets is particularly useful for converting bank statements into machine-readable structured data formats such as Excel, CSV, XML, or JSON.
In this article, we will learn how to convert PDF bank statements to Excel or CSV using Nanonets. As well as automating the entire workflow end to end.
Looking for an automated PDF bank statement converter to supercharge your bank statement workflows?
How to Convert Bank Statements to Excel with Nanonets
Here are the steps to convert bank statements using Nanonets’ free bank statement converter:
Step 1 – Add bank statement
Select the PDF bank statement from your computer, or just drag and drop into the upload box. You can choose to recognise all text in the bank statement or only restrict the converter to tabular data.
Step 2 – Click Convert
Click ‘Convert to Excel’ to convert your bank statement.
Step 3 – Download Excel/CSV
You should now be able to see a preview of the data captured from the bank statement. Download your converted CSV bank statement file by clicking “Download .CSV”.
Customising the Converted Bank Statement
Not all the data in the bank statement must be relevant to you. So what if you want to customise the output? Sign up to Nanonets to check out advanced features.
Nanonets can customise the selection of tabular data to just the pages, columns, rows or cells of your interest. This would help customise the output of the converted bank statement.
You can also merge multiple converted files to generate one master output file.
Additionally, Nanonets can compute derived metrics based on the data in the converted bank statement.
For example:
- Average daily balance for each listed account
- Estimated revenue for each month covered by the bank statement
- List of days negative balance by month
- Non-sufficient funds count by month
- Estimated revenue by month
- Includes full list of estimated revenue transactions
- Deposits not included in estimated revenue
- Merchant Cash Advance Transactions
- Recurring Transactions (either revenue or expenses)
- Running daily balance
- List of all withdrawals
- and more…
Looking for a PDF bank statement converter that can customise your converted output in the format of your choice?
Automate your Bank Statement Workflows
Apart from customising the output of the converted bank statements, Nanonets can also help automate the entire workflow end to end.
This would help eliminate nearly all manual effort.
With Nanonets you can:
- Automatically receive and ingest bank statements into Nanonets via email, cloud storage or API
- Generate a custom Nanonets output based on your workflow requirements
- Automatically integrate the output into your accounting or ERP software
Nanonets can also convert images to Excel, parse excel data and much more.
Looking for a PDF bank statement converter to automate your bank statement workflows?
Update November 2022: this post was originally published in May 2021 and has since been updated multiple times.
Here’s a slide summarizing the findings in this article. Here’s an alternate version of this post.
