AI-Powered Bank Statement Analysis & Transaction Categorization

Description

How it works

This workflow automatically processes bank statements from various formats and extracts structured transaction data with intelligent categorization using AI.

Key Steps

File Upload - Accepts bank statements via webhook upload (PDF, Excel, CSV formats).
Smart Format Detection - Automatically routes files to appropriate processors (PDF text extraction or spreadsheet parsing).
AI-Powered Extraction - Uses GPT-4 to extract account details, transactions, and balances from statement data.
Data Processing & Categorization - Cleans, validates, and automatically categorizes transactions into expense categories.
Database Storage - Saves processed data to PostgreSQL database for analysis and reporting.
API Response - Returns structured summary with transaction counts, expense totals, and category breakdowns.

Set up steps

Setup time: 8-12 minutes

Configure OpenAI credentials - Add your OpenAI API key for AI-powered data extraction.
Set up PostgreSQL database - Connect your PostgreSQL database and create the required table structure.
Configure webhook endpoint - The workflow provides a /upload-statement endpoint for file uploads.
Customize transaction categories - Modify the AI prompt to include your preferred expense categories.
Test the workflow - Upload a sample bank statement to verify the extraction and categorization process.
Set up database table - Ensure your PostgreSQL database has a bank_statements table with appropriate columns.

Features

Multi-format support**: PDF, Excel, CSV bank statements
AI-powered extraction**: GPT-4 extracts account details and transactions
Automatic categorization**: Expenses categorized as groceries, dining, gas, shopping, utilities, healthcare, entertainment, income, fees, or other
Data validation**: Cleans and validates transaction data with error handling
Database storage**: PostgreSQL integration for data persistence
API responses**: Clean JSON responses with transaction summaries and category breakdowns
Smart routing**: Automatic format detection and appropriate processing paths