Exact Statement

Company profile:

Startup name: Exact Statement

Tagline: Convert bank statement PDFs into QuickBooks Online, Xero, CSV, or Excel-ready files.

Elevator Pitch: Exact Statement converts bank statement PDFs into clean CSV or Excel files for bookkeeping workflows. Users can upload bank statements, review extracted rows, and export QuickBooks Online 3-column or 4-column CSV, Xero CSV, or spreadsheet-ready output.

It is built for bookkeepers, accountants, and small businesses that want to avoid manual retyping, especially on multi-page statements. The product supports batch upload, files up to 100 MB and 1,000 pages per PDF, and lets users delete data anytime with automatic deletion after 24 hours.

Target Market: Bookkeepers, accountants, finance teams, tax preparers, and small businesses importing bank statement data.

How will you make money?: Free pages / trial plus paid page-based plans for higher-volume PDF-to-CSV or Excel conversion needs.

How much capital have you raised?:

Website: https://exactstatement.com/

City/Country:

AI-assisted summary:

Exact Statement offers a specialized tool designed to convert PDF bank statements into structured CSV or Excel files, facilitating seamless integration with accounting software like QuickBooks Online and Xero. This service is particularly beneficial for bookkeepers, accountants, and business owners who require efficient data management. (Source: https://exactstatement.com/)

The Problem and Target Users

Financial professionals often face the tedious task of manually entering transaction data from PDF bank statements into accounting systems. This process is not only time-consuming but also prone to errors, leading to inefficiencies and potential inaccuracies in financial records. Exact Statement addresses this challenge by automating the conversion process, thereby reducing manual labor and minimizing errors. The primary users of this service include bookkeepers, accountants, and small business owners who need to import bank transactions into platforms like QuickBooks Online and Xero. (Source: https://exactstatement.com/)

The Product and Key Features

Exact Statement’s platform offers several key features to streamline the data conversion process:

• PDF Batch Upload: Users can upload multiple bank statement PDFs simultaneously, with support for files up to 100 MB and 1,000 pages each. (Source: https://exactstatement.com/)
• Transaction Normalization: The system automatically cleans and standardizes dates, descriptions, and amounts to ensure consistency. (Source: https://exactstatement.com/)
• QBO & Xero Column Mapping: Output columns are tailored to match the import specifications of QuickBooks Online and Xero, facilitating seamless integration. (Source: https://exactstatement.com/)
• CSV & Excel Export: Converted data can be downloaded in CSV format for QuickBooks or Xero, or as a standard Excel (XLSX) spreadsheet for other workflows. (Source: https://exactstatement.com/)
• Review Before Export: Users can preview extracted data and identify any flagged rows before finalizing the download. (Source: https://exactstatement.com/)
• Secure Data Handling: All files are transmitted over TLS/SSL encryption, with options for immediate deletion or automatic deletion after 24 hours, ensuring data security and compliance with GDPR standards. (Source: https://exactstatement.com/)

Business Model, Pricing Signals, and Traction

Exact Statement operates on a credit-based pricing model, where one credit corresponds to the processing of one PDF page. Users can convert one page for free without signing up, while registered users receive five free pages per day. For higher volumes, paid plans offering additional credits are available. This flexible pricing structure caters to both occasional users and those with more extensive needs. (Source: https://exactstatement.com/)

Expert Take

Exact Statement effectively addresses a common pain point in financial data management by automating the conversion of PDF bank statements into import-ready formats. Its user-friendly interface and robust feature set make it a valuable tool for financial professionals seeking to enhance efficiency and accuracy. However, potential users should assess the service’s compatibility with their specific accounting workflows and consider the cost implications based on their volume of transactions.

Note: Information based on publicly available sources at the time of writing, and summarized by AI.