AI-Powered Bank Statement Analysis & Transaction Categorization

This n8n workflow revolutionizes bank statement processing by accepting uploads via webhook in multiple formats (PDF, Excel, CSV). It intelligently detects the file type, extracts text or parses data, and leverages GPT-4 for accurate extraction of account details, transactions, and balances. Transactions are then cleaned, validated, and automatically categorized into customizable expense types, eliminating manual effort.

Key benefits include significant time savings for finance teams, reduced errors in data entry, and seamless integration with PostgreSQL for ongoing analytics and reporting. The workflow returns a structured API response with summaries like transaction counts and category totals, enabling quick insights.

Ideal use cases: Bookkeeping automation for small businesses, financial auditing, personal finance tracking, or BI dashboards. Setup is quick (8-12 minutes) with OpenAI credentials, PostgreSQL connection, and minor customizations for categories. Test with sample statements to ensure perfect integration.