Automatic uploading of a bank statement to accounting software based on a PDF file. Is it possible? 

In the accounting sector, similarly to many other areas, digitization and automation have become an indispensable element of everyday work. They have opened new possibilities in the said area, converting traditional methods into more effective and faster ones. It allowed finding solutions thanks to which it is possible to transfer data from a bank statement to the financial and accounting system in a much faster way.

One of the innovative solutions in booking of bank statements at MDDP Outsourcing is the automatic uploading into the financial and accounting software based on an image in PDF format. The technology and tools prepared by our best IT specialists allowed us to read data from PDF files i.e., the amount of the transaction, dates, account numbers and contractors’ names without the need for copying them manually into the software. The specially-designed application allows for character recognition and conversion of the bank statement to a format that will be readable for a particular financial and accounting system. Thanks to a properly set algorithm, the application reads the data from PDF files in a way that ensures fast and accurate copying of items and booking more documents in a shorter period of time.   

The automation of booking of bank statements with the use of our tools allows eliminating most of human errors, reduce the work time, reduce the financial costs and increase the effectiveness and accuracy of the booking process. Additionally, thanks to automation, it is possible to obtain information on the balance and conduct a financial analysis of the company in a much faster way. It also allows for faster and more accurate financial reporting and facilitates the monitoring of accounting data.   

It should be highlighted that the process of automatic uploading of a bank statement requires certain configuration and adjustments to match the characteristics of the accounting software and the format of a particular bank statement. One must also bear in mind that it is necessary to remain cautious and care for the data safety during the processing of financial documents.  

Summing up, the automatic uploading of data based on a PDF file into the financial and accounting system is possible based on properly adjusted tools which allow increasing the effectiveness of the management of accounting processes in any business activity.  

Author: Joanna Krymka Senior Specialist of the Settlement Department at the MDDP Outsourcing office in Warsaw