Skip to main content

​
Bank Statements

OpenFinance extracts transactions from bank statement PDFs using AI. Upload a PDF, and the system automatically identifies transactions, amounts, dates, and balances.

​
How It Works

1

Upload a PDF

Navigate to Statements and click Upload Statement. Select one or more bank statement PDF files.
2

AI processes the statement

The system converts PDF pages to images, extracts text, and sends both to the configured AI model via OpenRouter. The AI identifies:
  • Bank name and account number
  • Statement period (start and end dates)
  • Opening and closing balances
  • All individual transactions with dates, descriptions, and amounts
3

Balance verification

After extracting transactions, the system calculates whether the sum of transactions matches the stated opening and closing balances. If there is a discrepancy, the AI retries extraction (up to 15 attempts) to improve accuracy.
4

Transactions are saved

Once verified, all transactions are saved to the database and automatically linked to the correct bank account. If the account does not exist yet, it is created.

​
Supported Banks

OpenFinance works with any bank that provides PDF statements. The AI model adapts to different statement formats. Commonly used with:
  • Canadian banks (TD, RBC, BMO, Scotiabank, CIBC)
  • US banks (Chase, Bank of America, Wells Fargo)
  • Credit unions and online banks

​
Statement Details

After processing, each statement shows:

​
Viewing a Statement

Click on any statement to see its detail view. This shows all extracted transactions for that statement period, along with the verification status.

​
Duplicate Detection

OpenFinance computes a content hash for each uploaded PDF. If you upload the same file twice, the system detects it as a duplicate and warns you.

​
Tips

  • Upload statements in chronological order for the best experience with balance tracking
  • Statements work best when they are unmodified PDFs from your bank (not scanned paper copies)
  • After processing, review the transactions and correct any categorization errors — the AI learns from your data patterns over time