How to Use Statement Extraction in QuickBooks Online
When your bank can’t be directly connected to QuickBooks Online—or if you need to add older transactions—there’s now a faster, smarter way to keep your books up to date. With statement extraction in QuickBooks Online, you can upload a copy of your bank or credit card statement, and QuickBooks will automatically extract the transaction details for you.
This feature works with PDF, PNG, JPEG, and HEIC formats—so whether you have a digital statement, a scanned copy, or even a photo, QuickBooks can handle it. Best of all, the quality doesn’t need to be perfect for the extraction to work.
When to Use Statement Extraction
- Your bank doesn’t support a direct QuickBooks connection.
- You want to upload older transactions that don’t appear in your connected feed.
- You have a saved copy (or photo) of your statement and want to avoid entering data manually.
Note: QuickBooks currently supports bank and credit card statements from all banks and credit unions. Loan and brokerage statements are not supported.
Uploading a Statement for Extraction
Here’s how to get started:
- Go to the Bank Transactions page.
- Select the dropdown menu next to Link Account, then choose Upload from file.
- Pick the bank account you want to upload transactions into.
- Click Upload from this device and select your saved statement.
Once uploaded, QuickBooks begins extracting your data. Accuracy is the top priority. If the system isn’t 100% confident in the results, your statement will be reviewed by a QuickBooks expert—at no extra cost. This usually takes less than an hour, and you’ll be notified when it’s ready.
Navigating the Statement Extraction Screen
After your statement is processed, you’ll see a split-screen view:
- Left side: An image of your uploaded statement.
- Right side: Extracted data, neatly organized.
From here, you can toggle between two main tabs:
- General Details Tab
- Shows beginning and ending balances, plus the statement’s closing date.
- These details aren’t required to import transactions, but they’re useful for verification.
- Shows beginning and ending balances, plus the statement’s closing date.
- Transaction Details Tab
- Lists each transaction with its date, description, amount, and type (debit or credit).
- Selecting a transaction highlights the corresponding entry on your statement image, making review simple.
- Lists each transaction with its date, description, amount, and type (debit or credit).
Reviewing and Editing Transactions
QuickBooks makes it easy to double-check and adjust details:
- Edit transactions directly on the screen if you spot inaccuracies.
- Use the filter dropdown to sort by:
- All fields
- Edited fields
- Fields for review
- Fields not yet extracted
- All fields
Once you’re confident everything looks right, check off the transactions you want to keep and click Import.
What Happens Next
The imported transactions will appear in the Pending tab of your bank feed. From there, you can review, categorize, or match them just like any other transactions in QuickBooks.
Final Thoughts
The new statement extraction tool makes it easier than ever to capture accurate data from bank and credit card statements, saving time and reducing the risk of manual entry errors. Whether you’re adding older data or working with a bank that doesn’t connect directly, this feature keeps your QuickBooks Online books accurate and up to date with just a few clicks.
Don't wait Another Minute
