❗Note: Bank Statement Extraction is an early feature, so your organization’s owner must opt in before it can be used at an entity level.
1. Turn on Bank Statement as Extraction Type
Go to Entity Settings → Features.
Under Document Extraction Types, toggle Bank Statement ON.
Once enabled, Tofu will extract key details from every uploaded bank statement, including account numbers, dates, transaction details, amounts, and references.
2. Upload a Bank Statement
You can upload bank statements manually or via a cloud integration:
Go to your Source Documents column.
Click Upload document.
Select your bank statement file to upload.
💡 Recommended: Connect Google Drive or SharePoint
For the easiest workflow, integrate your cloud storage with Tofu. Any bank statements uploaded to your connected folder will automatically sync into Tofu, eliminating the need for repeated manual uploads.
3. Review the Extracted Data and Verify
After the bank statement is extracted:
Go to the Extractions column.
Review the header details:
Bank Account
Currency
Statement dates
Review the transaction table (line items), including:
Date
Description (expandable to view full details)
Debit / Credit amount
Balance (if available on the statement)
Reference
Contact (shown at the far right of the table)
If anything looks incorrect or incomplete, you can edit the fields directly in Tofu. Update header details or individual line items as needed, then click Save Draft.
Once everything looks accurate, click Verify.
The exported file is formatted for QuickBooks Online and supports faster AP and AR reconciliation without manual remapping.
4. Export the Bank Statement in a QBO-Supported Format
Once the bank statement is verified:
Click Export.
Select the QBO Bank Statement template.
Tofu will generate a file formatted specifically for QuickBooks Online. This means no manual conversions, no template adjustments, and no remapping—QBO will accept it immediately.
5. Import the Bank Statement into QuickBooks Online
After downloading your QBO-ready export:
Log in to QuickBooks Online.
Go to Settings → Import data → Bank data.
Upload the file you exported from Tofu.
Follow the prompts to finish the import.
QuickBooks will instantly process the transactions so you can start reconciling right away.
That’s everything you need! 🎉 With Tofu, preparing your bank statements for QBO becomes quick, clean, and stress-free—no manual mapping or reformatting ever again. If you need help at any point, our team is always here for you. 😊💬
📌 Early Feature Limitations
Bank Statement Extraction is an early feature, and we want to be transparent about what’s supported today. While the feature is improving, there are a few current limitations to keep in mind:
Page limits
Tofu can reliably process bank statements up to 60 pages. Files with more pages may still work, but accuracy and performance can vary depending on the document layout and quality.Entity knowledge and rules
Bank statements can now benefit from your entity’s existing knowledge and rules where applicable, helping improve extraction results. Support for this is still expanding.No automatic contact pairing yet
Contacts are not automatically matched or paired during bank statement extraction.Currently unsupported scenarios
The following cases are not supported yet:Multiple bank statements combined in a single file
Bank statements containing multiple currencies