❗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
Statement dates
Transaction details
Amounts
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.
Important note for large bank statements
Tofu can reliably process bank statements up to 60 pages. For larger files, Tofu may ask you to confirm extraction before processing continues.
If this happens:
Upload the bank statement as usual.
Open the extraction.
Re-extract the file if needed.
Confirm that you want Tofu to process the large file.
This confirmation helps prevent very large bank statements from being processed by accident.
💡 Recommended: Connect Google Drive, SharePoint or Email
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
Go to the Extractions column to verify:
Header Details:
Bank Account
Currency
Statement Dates
Transaction Table (Line Items):
Date
Description (expandable)
Debit / Credit
Balance (if available)
Reference
Currency
Contact
Multi-Currency Notes:
For bank statements, currency is assigned per line item.
If no currency is selected for a row, Tofu automatically uses the statement’s header currency.
AI Contact Suggestions:
Tofie can suggest a Contact name based on transaction details and it learns from your previously reviewed bank transactions, so suggestions get more accurate over time. You can always edit these before exporting.
💡 Tip: Edit header details or line items directly in Tofu. Click Save Draft before leaving the page, then Verify once accurate.
4. Export to QBO
Once the bank statement is verified:
Click Export.
Select the QBO Bank Statement template.
Tofu generates a QBO-ready file, eliminating manual conversions or remapping.
5. Import 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.
Transactions are processed immediately, allowing fast reconciliation.
📌 Early Feature Limitations
Bank Statement Extraction is still evolving. Here are a few current limitations:
Page limits
Tofu can reliably process bank statements up to 60 pages. Larger files may still work, but results can vary depending on layout and document 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.
✅ Pro Tips
Verify transaction-level currencies for multi-currency statements.
Use AI contact suggestions to save time, but always review.
Integrate cloud storage for automated uploads.
Always click Save Draft before navigating away.