AI Driven PDF to Excel Smart Converter

AI Driven PDF to Excel Smart Converter

Convert the different formats bank statement PDFs to standard Excel formats within seconds

Introduction

The company offers real-time accounting services and comprehensive back-office financial support. By leveraging accurate, up-to-date data, they assist businesses in scaling effectively, optimizing decision-making, and improving profitability. Their strategic services aim to foster sustainable growth across diverse industries.

Project Requirements

The objective was to develop a tool to automate the conversion of bank statement PDFs into a standard Excel workbook format, categorizing transactions into credits and debits. Also Excel workbooks contain separate worksheets for credits and debits. Each transaction entry has to be organized into three distinct categories—date, description, and amount—for easier analysis and accurate calculations.

Solutions / Implementation

We started with using Amazon Textract to extract the data from PDF bank statements. Amazon Textract captures the data while preserving the structure of tables, making it ideal for extracting tabular data. This includes elements like tables, cells, column headers, titles, and footers. Since the client worked with bank statements from various banks in different formats, each file required a customized approach to accurately extract and organize the data. Transactions were then categorized into Credits and Debits for further processing and analysis.

We used various features of Textract along with regular expressions to extract and categorize transactions accurately. The transactions were separated into Credits and Debits using multiple methods, such as analyzing table titles, column headers, and identifying whether the amounts were positive or negative values. The extracted data was then standardized to ensure consistency across all files, with dates formatted as mm/dd/yyyy and amounts converted into numerical values. This uniform formatting ensured that statements from all banks were transformed into a cohesive and structured layout.

Result 

The resulting product enables the client to transform bank statement PDFs containing hundreds of transactions into an Excel workbook within seconds. The workbook organizes transactions into separate Debit and Credit sheets based on their type. Each transaction is detailed with a full date, a description, and a numerical amount, allowing for seamless sorting, filtering, and calculations directly within Excel, significantly improving data accessibility and usability.

Conclusion

The implementation of the PDF to Excel converter eliminated the client’s need for time-intensive manual data entry. This solution, with minor modifications, can be adapted to various scenarios, such as invoice parsing, digitizing patient records, logistics processing, and more, streamlining workflows and enhancing efficiency across industries.