Auto Reading Check Payee Name From Scanned Checks

Auto Reading Check Payee Name From Scanned Checks



Can Ledgersync read payee name from checks? 

The answer in short is YES using AI!  This is a work in progress feature.

But a few clear considerations
A) We are using AI to extract the payee name and some hand writing is sloppy that the system can't read it.
B) Sometimes scanned images are not clear to read such as; a line running through the payee name, or poorly scanned image etc..
C) Sometimes AI will insert special characters or letters if it's trying to accurately guess a payee name.

In all the accuracy is about 60-70% BUT as more corrections are made the AI/Machine learning gets better.  This is software that will just get better with more usage. 

Ledgersync now has a technology that can READ Check and export the Payee information. 

How Do You See The Payee Info In Ledgersync?

1- Simply use the Ledgersync Check Fetching Software found under "Premium Banks".
2- Ledgersync using AI will attempt to extract the Payee name from the scanned checks
3- You can see the payee name, edit for mistakes and save.

See from the image the check payee was extracted and editable.



How do I export the data to my accounting software?

Coming soon....
Phase 1
You will be able to export the data as a file format
- CSV
- QBO
- OFX 

Phase 2:
We will integrate the Payee info directly with the Ledgersync Transaction Table and add the payee name as a memo field in the transaction table.
This will enable you to import directly to ALL ACCOUNTING Platforms. 


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