Discover how AI-powered chat assistants and automated category rules reduce manual bank reconciliation from hours to minutes.
1. Automatic Transaction Categorization
Manual bookkeeping means mapping every narration like "ACH/JIO/BP/MYJIO" to "Recharge" or "SWGY/ZOMATO" to "Food". StatementIQ ships 120+ rule regexes plus per-user merchant rules that learn from your corrections: when you move "Kalpana Traders" from Transfers to Rent, every other transaction with that counterparty is retroactively fixed — up to 2,000 rows scanned, never-touching your hand-edited rows. This alone saves 15 hours/week reported by Apex Advisory.
Rules are layered: global defaults → user-learned → current-page corrections. Promoted globals require 3 distinct users agreeing, so personal payees never leak.
2. Natural-Language AI Chat Across Statements
Instead of pivot tables, ask "How much did we spend on software fees this quarter?" or "List all subscription charges over ₹5,000 in July". The pipeline parses your question via LLM to a JSON spec, runs parameterized SQL capped at 200 rows, then composes a grounded answer with a bar chart and transaction table. No hallucinated numbers — the answer cites the exact rows returned. Try it in the chat drawer scoped to one statement or across all.
Rate-limited at 20 requests/minute to control Azure OpenAI costs; follow-ups keep 6-turn memory ("those" resolves to the last merchant).
3. Multi-Page Balance Reconciliation & Error Flagging
Most tools sum amounts and call it done. StatementIQ also audits the running balance printed on each row: if a row's amount does not match the delta of the running balance column, it is marked unverified and the statement is set to needs_review. Opening + total credits − total debits must land exactly on the closing balance — otherwise a row was missed, and we surface the count of skipped/unverified rows in the upload response.
4. One-Click Excel & CSV for QuickBooks/Xero/Tally
Exports normalize dates to YYYY-MM-DD, signed amounts for summability, and category hierarchies. The export route validates from/to as ISO dates, caps 10,000 rows to avoid OOM, and sanitizes CSV injection (= - + @ prefixed with '). Download via blob streaming with proper Content-Disposition: filename*=UTF-8 handling.
5. Team Review & The Road Ahead
Pro users get <2 s priority parsing and up to 50 statements/month; Enterprise adds REST API, 500 statements, and a dedicated manager with 99.9% SLA. In 2026 the next frontier is autonomous categorization suggestions and anomaly detection. The theme is clear: automation shifts the accountant from data entry to advice. See pricing and start with 5 free statements.