Extract bank statement data (CA, US)

Hubdoc Support

September 08, 2024 21:59

This article is for organisations in Canada and the United States.

Overview

Convert a PDF bank statement to a CSV file of transactions which you can import to QuickBooks Online (QBO) or Xero.

What you need to know

How it works

You can use Hubdoc to extract the transactions from your scanned or bank downloaded PDF bank statement and convert the data to a CSV file. You can then import the CSV file to QBO or Xero to reconcile your transactions.

Hubdoc can extract data from debit or credit statements:

Debit statements – Hubdoc will extract the date, description and amount for each transaction.
Credit statements – Hubdoc will extract the posted date, transaction date, description and transaction amount.

Sometimes there can be an error extracting a transaction. This can occur if totals don’t match, no opening or closing date could be extracted, or data couldn’t be extracted for another reason.

When selected, the checkbox Highlight extracted transactions on bank statement highlights the transactions that were extracted from the statement, to help you review and fix errors faster. If an extraction error occurs, you only need to review the non-highlighted transactions.

Statement requirements

To upload and export your bank statement data, your file must:

Be a PDF with a maximum height and width of 40 inches, or 2880 points
Contain all pages of the statement, with a maximum of 100 pages per PDF
Be 35MB or less
Have a minimum resolution of 200 DPI
Only contain one statement
Be written in English
Be a debit or credit statement
Be scanned straight; crooked or slanted scans can result in an error

Extract bank statement data

Upload your bank statement to Hubdoc.
F ind and open the statement in Hubdoc, then click Edit Document to open the data toolbar.
Under Document Type, select Statement.
Under Financial Institution, select the bank your statement is from.
Under File Format, select your preferred file format for the exported data.
Click Generate CSV.
Once Hubdoc has processed your statement, click Download. Your transactions will download as a CSV file to your device.

If an error message shows, there may be a problem or missing transactions in your CSV file. Select the Highlight extracted transactions on bank statement checkbox. Successfully extracted transactions will be highlighted in the document viewer, allowing you to easily identify any missing transactions.

Note that Hubdoc might create multiple CSV files to meet the import requirements of the selected file format. For example, the import limit for Xero is 1,000 transactions per CSV file. If you select Xero CSV as your file format and your statement has more than 1,000 transactions, Hubdoc will export your data to a zip folder containing multiple CSV files.

If you notice an issue with your CSV data, you can report it.

Supported banks

Hubdoc can extract data from selected statement types from supported banks. This means the data extraction has been validated and high quality results are likely.

The following banks are supported:

United States
Ally Bank Amarillo National Bank America First Credit Union Ameris AMEX Apple Card Atlantic Capital Bank of America Bank of Hawaii Bank of the West Bank Ozk Banner Bank Barclays BBVA Best Buy Credit Card Bluevine BMO Harris Bank Boeing Employees Credit Union Capital One Centennial Bank Chase Bank Citibank Citizens Bank City National Bank Columbia Bank Comerica Bank Commerce Bank First Interstate Bank	First Midwest Bank First National Bank First National Bank of Omaha First Republic Bank Flagstar Bank Frost Bank Horizon Bank HSBC Huntington National Bank Investors Bank KeyBank Live Oak Bank Lloyds Bank M&T Bank Mercury Bank Montecito Bank & Trust Mountain America Credit Union Navy Federal Credit Union Northern Trust Novo Old National Bank One Bank of Tennessee Paypal PNC Bank Prairie Community Bank Prospera Credit Union Prosperity Bank RedWood Credit Union	Regions Bank Relay Financial Renasant Bank Sam's Club Credit Card ServisFirst Bank South State Spokane Teachers Credit Union Sterling National Bank Synchrony Bank Synovus TD Bank Truist Umpqua Bank Union Bank United Bank United Community United Federal Credit Union USAA Federal Savings Bank U.S. Bank Valley National Bank VyStar Credit Union WA Federal Bank Walmart Rewards Washington Trust Bank Webster Bank Wells Fargo Woodforest National Bank Zions Bancorp

Canada
Affinity Credit Union Alterna Savings ATB BMO Bulkley Valley Credit Union Canadian Tire Bank Canadian Western Bank CIBC Coastal Community Credit Union Connect First Credit Union East Coast Credit Union	Kootenay Savings Credit Union MBNZ National Bank of Canada PC Financial Revelstoke Credit Union Royal Bank of Canada Salmon Arm Savings & Credit Union Scotia Bank Servus Credit Union TD Canada Bank Trust Valley First

If your bank isn’t supported, you can still use the My bank is not listed function to extract statement data.

You can also request to add the bank as a supported bank by raising it as an idea in Xero Product Ideas. Xero Product Ideas is a Xero website where our customers can share and support ideas for change.

'My bank is not listed' function

Xero has introduced the ability to extract statement data from any banks that operate in the United States or Canada. This allows you to extract statement data from a bank that isn’t listed above as a supported bank.

To use this feature, when searching for your bank, select My bank is not listed from the dropdown menu.

Please note, as this function is not for a supported bank, the accuracy of the results might vary. Please carefully review the CSV before uploading it to your accounting software. If a warning message shows, you can use the checkbox Highlight extracted transactions on bank statement to help you review and fix errors faster.

The My bank is not listed function is provided 'as is', and by using this function you agree Xero won’t be liable for any damage caused by its use.

What's next?

Now you’ve extracted the transactions from your statement, import the CSV file to QuickBooks Online (QuickBooks website) or Xero (Xero Central website) to reconcile them.