Process Bank Statements from Emails

Companies regularly receive bank statement PDFs from their banks by email. Processing these statements often involves downloading attachments, organising files and manually importing transaction data before it can be reviewed by the accounting team.

SquidWeb simplifies this process by allowing users to process supported bank statement PDFs directly from a configured Public Mailbox. Depending on the selected action, the statement can simply be identified and stored or processed further to automatically create accounting entries ready for review.

This helps reduce repetitive manual work while maintaining full control over the approval and release process.

Requirements

Before processing bank statements, ensure that:

• The bank statement is a supported Revolut PDF.
• The statement’s IBAN matches a bank account configured on the company’s Company Contact.
• The configured bank account contains:
  • The correct IBAN
  • The Revolut BIC (REVOLT21XXX)
  • The correct currency.

Processing a Bank Statement

Open the email inside the configured Public Mailbox.

From the attachment menu, choose one of the available actions.

Identify and Save

This option identifies the bank statement and stores it inside SquidWeb without creating any accounting entries.

Use this option when you simply want to archive the statement and process it later.

Identify, Save and Process

This option identifies the bank statement, stores it and immediately processes its transactions.

Octopodi extracts the transaction data and automatically creates the corresponding accounting entries, ready for review.

Reviewing the Accounting Entries

After processing, the generated accounting entries automatically appear in the Accountings page with the status Design.

Before any accounting entry is released, users can review and adjust the generated information as required.

The Accounting Activities history records how each accounting entry was created, providing complete traceability back to the original bank statement.

Supported Banks

Currently, Bank Statement Automation supports PDF bank statements exported from Revolut.

Support for additional bank statement formats may be added in future releases.

Benefits

Bank Statement Automation helps accounting teams to:

• Process bank statements directly from email attachments.
• Eliminate manual downloads.
• Automatically identify supported bank statements.
• Store documents in the correct location.
• Automatically generate accounting entries.
• Maintain a complete audit trail.
• Review accounting entries before they are released.

Video Tutorial

Watch the video below to see how to process a supported bank statement directly from a configured Public Mailbox using both Identify and Save and Identify, Save and Process.