Bank transactions are the backbone of bookkeeping: almost every sale, purchase and payroll run ends up as a line on a statement. How those lines reach the accounting system decides how much manual work the month-end takes.
How bank data reaches Nexbal
In Nexbal you upload the bank statement and AI does the reading. It works with any bank, building society, e-money account or card statement, so the same routine covers your high-street current account, a savings account and a Wise or Revolut balance.
Nexbal is launching in the UK and taking beta users now. Set up your bank accounts and upload your first statement during the free trial. Join the Nexbal beta.
How statement upload works
- Create a bank account in Nexbal for each account you hold (current account, savings, card, Wise or Revolut balances).
- Download the statement from your bank for the month, as PDF.
- Upload it. Nexbal reads every line and suggests the counter-account based on the description, amount and your past postings.
- Confident lines are posted; the rest wait for review. You confirm or correct the suggestions; corrections improve future suggestions.
- The month is reconciled. The statement’s closing balance is compared with the ledger, so a missing or duplicated line is visible at once.
You can add standing guidance for the analysis, such as “payments to this landlord are rent”, and it is applied to future statements.
What statement upload gives you
| Statement upload in Nexbal | |
|---|---|
| Works with | any bank that provides PDF statements |
| Effort | download and upload once per period |
| Posting | AI suggests the counter-account for every line |
| Reconciliation | per statement, with closing balance check |
| Evidence | the statement stays attached to the postings |
For a small business closing its books monthly, the upload takes a few minutes per account. What matters more is that every bank line is posted with evidence and the closing balance agrees.
Keeping it tidy
- Upload statements for every account, including savings and card accounts, so transfers between them match.
- Capture receipts as you spend, so each statement line has its document waiting; see receipt and invoice capture.
- Reconcile before VAT returns and before the year end.
For the reconciliation routine, see bank reconciliation; for currency accounts, bookkeeping for Wise Business accounts.
Try statement upload with your own bank statements. Join the beta.