Plain-language definitions for the bank statement, invoice, receipt, and tax-form terms that come up in financial document workflows. Each entry links to the DocuClipper feature or solution that handles it.
A 1099 form is an IRS information return used to report payments made outside of a regular employer-employee relationship.
Read definitionBank reconciliation is the accounting process of matching the transactions on a bank statement to the entries in a general ledger or bookkeeping system, and resolving any differences.
Read definitionBank statement OCR is the process of using optical character recognition to read a PDF or scanned bank statement and turn the printed transactions, balances, and account header into structured data.
Read definitionA chart of accounts (COA) is the structured list of every account a business uses to record financial activity, organized by type (assets, liabilities, equity, revenue, expenses).
Read definitionA CSV bank statement is a comma-separated values file containing one transaction per row, typically with columns for date, description, amount (or debit and credit), and running balance.
Read definitionField-level accuracy measures how often each individual extracted field (date, description, amount, balance) matches the ground truth in the source document.
Read definitionInvoice OCR is the use of optical character recognition and layout analysis to read a PDF, scan, or photo of an invoice and extract structured fields: vendor, invoice number, invoice date, due date, line items, subtotal, tax, and total.
Read definitionOFX, short for Open Financial Exchange, is an open XML-based file format for exchanging financial data between banks, brokerages, and accounting software.
Read definitionA PDF bank statement is the digital statement file a bank delivers, either as a text-based PDF generated from the bank's core system or a scanned image PDF created from paper.
Read definitionQFX, also called Web Connect, is Intuit's branded variant of OFX used to import transactions into Quicken.
Read definitionQIF, short for Quicken Interchange Format, is a plain-text Quicken file format that predates OFX and QFX.
Read definitionReceipt OCR is the extraction of structured data (merchant, date, total, tax, payment method, and itemized lines) from photographed or scanned retail receipts.
Read definitionForm W-2, the Wage and Tax Statement, is the IRS form U.S.
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