❗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, bank statement extraction can be used across both Accounts Payable (AP) and Accounts Receivable (AR) workflows to support faster reconciliation.
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
Once the the bank statement is extracted:
Go to the Extractions column.
Review the extracted data, including:
Bank Account
Currency
Statement dates
Review the transaction table (line items), which includes:
Date
Description (expandable to view the full transaction details)
Debit / Credit amount
Balance (if available on the statement)
Reference
Contact (shown at the far right of the table)
If you spot anything that’s wrong or missing, you can edit the fields directly in Tofu. This includes updating header details as well as adjusting individual line items. When making changes, click Save Draft.
Once everything looks correct, click Verify.
4. Export the Bank Statement in a Xero-Supported Format
After verifying the bank statement:
Click Export.
Select the Xero Bank Statement template.
Tofu will convert the extracted bank statement into a Xero-supported CSV file, so you don’t need to manually convert or map the data. This helps streamline AP and AR reconciliations and minimizes manual adjustments.
5. Import the Bank Statement into Xero
Now that you have the export file:
Log in to Xero.
Go to Accounting → Bank accounts.
Choose the bank account you want to update.
Click Import a Statement.
Upload the Xero-formatted file you exported from Tofu.
Xero will process the transactions immediately, allowing you to start reconciling without any manual data entry.
You’re all set! 🚀 Your bank statement is now cleanly extracted and ready for Xero—no manual mapping or formatting needed. If you run into questions along the way, feel free to reach out. We’ve got your back! 🤝✨
📌 Early Feature Limitations
Bank Statement Extraction is an early feature that supports AP and AR workflows, and we want to be transparent about what’s supported today.
Page limits
Tofu can reliably process bank statements up to 60 pages. For files beyond this size, extraction may still work but accuracy and performance can vary depending on layout and file quality.Entity knowledge and rules
Bank statements can now benefit from your entity’s existing knowledge and rules where applicable. This means previously learned patterns may help improve extraction quality, though support is still expanding.No automatic contact pairing yet
Contacts are not automatically matched or paired during bank statement extraction.Currently unsupported scenarios
To avoid extraction issues, the following cases are not supported yet:Multiple bank statements combined in a single file
Bank statements containing multiple currencies