Understanding and Managing Statement Dates in LedgerSync

Understanding and Managing Statement Dates in LedgerSync

Overview

LedgerSync uses AI to automatically extract statement dates from bank PDFs. While highly accurate, occasional errors may occur. This article explains why this happens and how to manage it.

Why Statement Dates May Be Incorrect

MasterCard API Limitation

MasterCard's API does not include statement dates in its response. LedgerSync uses AI to read PDFs and assign dates automatically.

When AI Makes Mistakes

1. Multiple Dates on Statement: Bank statements contain several dates (transaction, processing, closing, due dates). AI may select the wrong one.

2. PDF Security/Locked Files: Adobe security settings may prevent AI from reading PDFs.

3. Unusual Formats: Non-standard layouts or foreign language statements may reduce accuracy.

Note: These errors are the exception, not the norm. Most statement dates (95%+) are correct.

How to Identify Incorrect Dates

Common red flags:

  • Statement dated in the future
  • Dates out of sequence or don't match expected cycle
  • All statements showing the same date

How to Manually Edit Statement Dates

  1. Log into LedgerSync
  2. Select the client
  3. Click Statements tab
  4. Locate the statement with incorrect date
  5. Click the statement to open it
  6. Find the Edit Date or Statement Date field
  7. Enter the correct date from the PDF
  8. Save changes

When to Report Issues

Submit a support ticket when you notice:

  • Pattern of incorrect dates from a specific bank
  • Same bank consistently has wrong dates across clients
  • Particular statement format repeatedly causing issues

How to Report

  1. Take screenshot of the full statement page showing incorrect date
  2. Email support@ledgersync.com with:
    • Client name
    • Bank name
    • Incorrect date shown
    • Correct date from PDF
    • Screenshot attachment

Best Practices

For Accounting Firms:

New Client Onboarding: Verify statement dates for first 3 months. Document banks requiring manual corrections.

Team Training: Include statement date verification in standard procedures. Create quick reference guide.

Quality Control: Implement monthly spot-checks. Flag patterns to support. Log problematic banks.

For Individual Users:

  • Verify dates match PDF before reconciliation
  • Correct errors immediately when spotted
  • Report persistent issues

Understanding the Technology

LedgerSync continuously improves AI extraction. Machine learning models update based on reported errors. Until MasterCard includes dates in API responses, AI extraction remains necessary because:

  • Manual entry would be time-prohibitive
  • AI provides 95%+ accuracy
  • Users can override when needed
  • System improves with feedback

Troubleshooting Scenarios

All Statements Same Date: AI likely locked onto standard date on all statements. Manually correct and report.

Future Dates: AI selected next statement date. Open PDF, find actual date, correct manually.

Missing Dates: PDF locked/secured. Manually enter from PDF and report.

Inconsistent Formats: Verify dates are logically correct despite format differences.

Related Articles

  • Article 74: Downloading Statements in Bulk
  • Article 59: How to Convert Bank PDF Statements to Excel or QBO
  • Article 38: How to Add a Bank Feed Connection in LedgerSync
  • Article 57: What Bank Connection to Choose

Need Help?

Email: support@ledgersync.com
Technical Issues: maurice.berdugo@ledgersync.com

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