DOKKA is rolling out support for full bank statement processing (read about the basic extraction feature here). This feature allows you to upload a bank or credit card statement to DOKKA and create transactions in your accounting system directly from the lines in the statement. For cash-based accounting, you're done! DOKKA will remember what you do and automate the process going forward. For accrual-based accounting, you can use your system's reconciliation feature to match these transactions to the back-up documentation (which also hopefully came through DOKKA).
Some points about bank statements:
- Digital .PDFs are better: Unlike receipts and invoices, bank statements are harder to understand. Scanned copies are not fully supported. IF they can be processed, it will take longer (we're working on supporting scans as well). If a bank statement has the "Processing" label on it for a long time, you can assume that
- the data is being extracted, but the system needs help with a detail (dates or end balance don't match), or
- the bank statement is not supported and the system is stuck.
- Upload one complete bank statement per document: Do not remove or rearrange pages or put an entire year of statements into one file. If you want to store this for archival purposes, that's fine, but not for data extraction. The system is not designed for this.
- If you do upload statements for archival purposes, please convert them to general documents.
- Every bank has it own format(s) for bank and credit card statements. We are teaching the system how to understand them. Unsupported statements will be "stuck in processing" until we can release it. Once your bank statement is supported, the processing should be as quick as for an invoice
How to process a bank or credit card statement - reconciliation feature:
- Upload a statement.
- Click to view it.
- Verify that the Bank/Credit Account from your accounting system matches the account on the statement (we recommend including the last 3 digits of the account number in the account name in your accounting system).
- Scan the extracted transactions. Make sure that all required fields are complete. You can also enter other fields as you desire.
- While processing the lines, DOKKA will assign similar transactions to the same account. You can easily change it. You can also select desired lines by checking the checkbox on the left and set accounts and other fields in bulk.
- You can click the export icon at the top of the screen to export the data to an Excel file.
- When you click "Accept All" new transactions will be created in your accounting system.
- DOKKA checks for matching records. These will not be created twice.
- Transactions created in DOKKA can be undone by clicking the button to the right of each line. This is true even after you Accept or add a transaction to your accounting software.