Categorize a bank statement by cash flow line

Accountant · Time: 20 min · Finance

Tools that fit this task

• ChatGPT $20/mo
• Claude $20/mo
• Gemini in Google Sheets $14/mo
• Numerous.ai Free
• Zapier $19.99/mo
• Make $9/mo

Prompt

Role: you are an accountant assigning a bank statement to cash flow categories.
Context: the company works in {{industry}}. Categories: {{list of categories with descriptions}}. The statement below has date, counterparty code, amount, payment reference.
Task: assign a category to every row. If your confidence is below high, mark it "uncertain" and explain which categories you are choosing between.
Format: a table date | counterparty code | amount | category | confidence (high or uncertain) | comment. After the table, totals by category and the list of rules you used to classify, so I can correct them.
Statement:
{{statement}}

Steps

1. Export the statement to CSV or Excel with columns date, counterparty, amount, payment reference
2. Replace counterparty names and account numbers with codes, keeping the payment reference
3. Write the list of your cash flow categories with a short description of each
4. Give the assistant the statement and the category list with a prompt to classify every row
5. Check all rows marked "uncertain" and ten random rows with a confident classification
6. Fix the errors and ask the model to state the rules it got wrong so you can add them to the next request

How to check the result

More than 90% of rows are categorized correctly in a sample check, and every uncertain row is flagged and reviewed by a person

Pitfalls

• The model classifies by words in the payment reference and confuses a refund with a payment when the wording is the same, so check negative amounts separately
• A statement with real account numbers and names of individuals goes into the service only anonymized

Data that stays out of public AI tools

• Employee names, tax IDs, dates of birth and salaries: into a public service only as [Employee 1] and [amount]
• Account numbers, tax numbers and counterparty names from bank statements and the trial balance: banking and trade secrets, replace them with codes C1, C2
• Digital signature keys and passwords to online banking or the taxpayer portal: never, anywhere

Other tasks for accountants

• Reconcile the trial balance with the bank and source documents
• Find discrepancies in a counterparty reconciliation statement
• Check a source document for required fields
• Prepare a reply to a tax authority request
• Write an overdue payment reminder
• Get a spreadsheet formula from a plain-language request
• Summarize changes in legislation for colleagues
• Analyze budget variances, actual versus plan
• Explain the numbers to the business owner
• Draft an internal company order
• Write a business letter
• Summarize a long PDF
• Keep a contract register and track deadlines

AI tools for accountants · Prompt: Categorize a bank statement by cash flow line