Accuracy and validation
Ask how the product handles dates, wrapped descriptions, debit and credit signs, running balances, credit cards, multi-account PDFs, and unknown formats.
A professional tool should mark uncertain results for review instead of silently delivering incomplete data. Balance validation and row-level evidence are stronger than a generic accuracy claim.
Export formats and workflow fit
Check whether the software exports Excel for review, CSV for flexible imports, and QBO or OFX for QuickBooks workflows. If your firm uses Xero, confirm the expected CSV or bank-import format.
The best architecture parses once into a canonical statement model, then renders each export format from that verified data.
Security and operating controls
Review retention, encryption, access controls, privacy policy, support practices, and whether client data is used for anything beyond delivering the conversion.
If your firm handles regulated or high-value client data, ask about data processing agreements and how corrections or support cases are reviewed.
FAQ
Should accountants use generic OCR tools?
Generic OCR can help with text recognition, but bank statements need layout understanding, sign handling, validation, and accounting export formats.
What is the most important feature to test first?
Test a real client statement with multiple pages and messy descriptions. Then verify transaction count, totals, balances, and export compatibility.