Glossary
Bank statement OCR
Definition
Optical character recognition applied to bank statements to turn scanned images into text and structured transactions.
Plain OCR produces text; bank statement OCR goes further by understanding columns, multi-line descriptions and balances so the output is a list of transactions.
Because OCR errors can look plausible, good statement OCR verifies results against the printed balances.
Related terms
- Bank reconciliation
Comparing your records with the bank statement to make sure balances agree and every transaction is accounted for.
- PDF bank statement
A bank statement delivered as a PDF document — readable by people but not directly importable by accounting software.
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