LedgerBox

TL;DR

Extracts financial data from PDFs like bank statements and invoices.
Automates data entry to save time and reduce bookkeeping errors.
Integrates directly with accounting software like QuickBooks Online.
Best for accountants, bookkeepers, and small-to-medium businesses.

What is LedgerBox

LedgerBox is an AI-powered financial data extraction tool designed to automate document processing for accountants and bookkeepers. It solves the core problem of manual data entry by accurately extracting information from financial documents such as PDF bank statements, invoices, and receipts. As an Intelligent Document Processing (IDP) platform, LedgerBox converts unstructured document data into structured formats like Excel, CSV, or JSON, ready for import into accounting software.

Key Features

Automated Data Extraction: Leverages AI to accurately pull key financial data from various document types, eliminating hours of manual data entry and reducing human error.
Multi-Format Conversion: Allows users to convert bank statements, invoices, and receipts into multiple usable formats, including Excel, JSON, CSV, and a direct format for QuickBooks Online.
Integration Ready: Designed to work seamlessly with popular accounting software, including QuickBooks and Xero, which streamlines the entire bookkeeping workflow.
Bank-Level Data Security: Ensures sensitive financial documents are protected at all times using strong encryption and secure cloud storage protocols.
Proprietary AI Processing: Utilizes custom-built AI models and software to process documents with high speed and accuracy, ensuring a reliable and efficient workflow.

Who is LedgerBox for?

Accountants & Bookkeepers: Professionals who regularly handle and process financial documents for multiple clients.
Small to Medium-Sized Accounting Firms: Businesses looking to automate their data entry workflows and improve operational efficiency.
Small Business Owners: Entrepreneurs who manage their own books and want to streamline financial record-keeping.
Financial Analysts: Individuals who need to quickly extract and consolidate data from numerous financial statements for analysis.

Key Use Cases & Applications

Automated Bank Reconciliation: Convert PDF bank statements into Excel or CSV to quickly reconcile accounts.
Streamlined Expense Management: Extract data from stacks of invoices and receipts for faster expense reporting.
Efficient Client Onboarding: Digitize and process a new client's past financial documents quickly.
Data Migration for Accounting Software: Prepare financial data from various sources for easy import into QuickBooks, Xero, or other platforms.

Pros

High Accuracy: Employs advanced AI for precise data extraction, minimizing costly errors.
Significant Time Savings: Claims to reduce bookkeeping time by up to 80% through automation.
Multiple Export Options: Offers flexibility by supporting exports to Excel, CSV, JSON, and QuickBooks Online.
Strong Security Measures: Uses bank-level encryption to protect sensitive client financial data.

Cons

Page Limits on Lower Tiers: The conversion limits on the Basic and Pro plans may be restrictive for firms or individuals with high document volumes.

Pricing Info

Basic: $24/month. Includes 2,000 page conversions, Convert all files button, 30 day data retention. Billed annually.
Pro: $40/month. Includes 5,000 page conversions, Convert all files button, 30 day data retention. Billed annually.
Biz: $82/month. Includes 12,000 page conversions, Convert all files button, 30 day data retention. Billed annually.
Big time (Enterprise): Custom pricing. Includes unlimited conversions, custom models, and SLAs. Requires contacting sales.

FAQs

What types of documents can LedgerBox process?