This feature is available for users who are members of organizations who opted into the financial statement import beta.
Introduction
The Statement Import feature in Estateably allows you to efficiently import holding and transaction details from investment statements directly into the system. This guide will help you learn how to use this powerful tool to reduce manual data entry and streamline your workflow.
Key Benefits
By using the Statement Import feature, you'll be able to:
Significantly reduce manual data entry time
Minimize errors from manual transcription
Easily review and adjust parsed data before import
Maintain accurate historical records
Streamline the reconciliation process
Preparing Your Investment Statements
File Requirements
Format: All files must be in PDF format (lowercase .pdf, not .PDF)
File Max Size Limit:
Less than 50 MB
99 pages or less
Naming: Avoid special characters or spaces in filenames
Account Structure: Each file should contain information for a single account only
Statement Periods: Ideally one statement period per PDF
For Multiple Statement Periods in One File
Organize statements chronologically (oldest to newest)
Include transaction history from each statement
Include holding details from the last period only
Combine into a single PDF
Best Practice: Upload individual statements in chronological order to maintain accuracy and facilitate reconciliation.
Uploading Statement Files
Select your matter and navigate to the Accounting section
Ensure the account you plan to populate is added to your case's Assets page and in 'Managed' status (Estates only)
For deceased accounts in Estates, click the 'Manage' button to make them available
Select the Statement Import tab
Click "Upload Statement" button to open the file explorer
Select and double-click your PDF investment statement file
The system will display confirmation that it is “Extracting information from the file” and will display a status of ‘Uploading’ in the Statements Uploaded list, until the parsing is complete.(You can navigate away and return upon notification the upload and extraction is complete)
Once parsing is complete, you'll see the count of extracted transactions and holdings with file Status of “Pending Review”
Click "Start Review" to begin the review process
Initiating File Review
For Estate Matters
Select the account from the dropdown (required)
Specify upload type: "Initial Position" or "File Update" (required)
Enter statement start date (required)
Enter statement end date (required)
If selecting a Deceased Investment account, review or enter the Opening Cash Balance (optional)
Date of Death field is read-only (update in Intake section if needed)
Click "Next" to view parsed data
For Trust Matters
Select the account from the dropdown (required)
Enter statement start date (required)
Enter statement end date (required)
Trust Start Date field is read-only (update in Intake section if needed)
Click "Next" to view parsed data
For Powers of Attorney Matters
Select the account from the dropdown (required)
Specify upload type: "Initial Position" or "File Update" (required)
Enter statement start date (required)
Enter statement end date (required)
If selecting a Grantor Investment account, review or enter the Opening Cash Balance if applicable.
PoA Start Date field is read-only (update in Intake section if needed)
Click "Next" to view parsed data
Reviewing Parsed Holdings
The system displays holding information parsed from the statement's "Asset Detail" or "Investment Details" section
Review each holding (sorted according to their order in the source statement)
Click "Edit" to modify any fields: Symbol, Description, Quantity, Unit Cost, Market Price, or Market Value
You can edit one row at a time
Save changes before selecting another row
Click "Save" to preserve changes or "Cancel" to revert
Uncheck the row selector checkbox for any holdings you do not want to import
Reviewing Parsed Transactions
Click the "Transactions" tab to view parsed transactions
Review each transaction (sorted according to their order in the source statement)
Rows highlighted in red require your attention
Click "Edit" to modify fields: Date, Description, Category, Holding, Money Type, Quantity, or Amount
You can edit one row at a time
Save changes before selecting another row
Click "Save" to preserve changes or "Cancel" to revert
Uncheck the row selector checkbox for any transactions you don't want to import
Validating Selected Holdings and Transactions
Click "Validate" to check the selected records
The system will not validate unchecked rows
The system validates that all required fields have been specified and erroneous rows corrected
The system compares total quantities for consistency
If there's a discrepancy between the statement’s end of period holding quantity versus the holding quantity already in the system plus the parsed holding quantity to be imported, you'll receive a warning
If no errors are found, a confirmation message will appear
Click "Next" to proceed to syncing or "Cancel" to return and make changes
Syncing Data into Estateably
Click "Sync" to import all validated holdings and transactions
The system processes the data and confirms when syncing is complete
Click "OK" to return to the updated account’s Holding List page
Validate the imported holdings (and transactions)
Click "Statement Import" tab to review and import subsequent statements
Special Handling
Processing Dividend Reinvestments
For dividend reinvestment transactions, the system will ask if the transaction Description reports:
Price per Unit of each additional unit acquired, OR
Total Price paid to acquire the additional units
Select the relevant option and click "Next"
Estateably records dividend reinvestments as two separate transactions:
Dividend Income
Investment Purchase
The above also applies to Interest reinvestments and capital gain distribution reinvestments.
Trusts: Importing Existing Holdings Without Transaction History
For Trust matters, the system will automatically determine if any holdings should be classified as "Funding Assets" to enable importing all pre-existing holdings without their transaction history.
After successfully validating the statement’s holdings and transactions and clicking ‘Next’, the system determines if there are any holdings to be marked as “Funding Assets”.
If the system finds at least one holding where:
the end-of-period quantity is greater than 0, and
there are no purchase, transfer-in, or stock split transactions associated to those units, and
the holding does not already exist in the selected Estateably account,
then the system loads the Review Funding Assets from the Statement Period page
3. Review the holdings identified as “funding assets”. The system will only list holdings that have some units that are not fully linked to related transactions. Each row is pre-filled to help you confirm the missing units:
4. Adjust each listed holding as required. For each row, decide if you want to:
Keep it as a Funding Asset (recommended if you are not entering older transaction history).
Edit the Funding Date if needed.
Edit the Quantity if only some units should be treated as funding.
Tip: You can use checkboxes to apply one Funding Date to several holdings.
5. Enter Adjusted Cost Base per Unit for every listed holding
6. If you plan to enter the missing transactions later, clear the Funding Date for that holding. This ensures the system will not import those units.
7. Click “Next”.
8. If any holdings still have units with no transaction history and they are not marked as funding assets, the system will trigger a final warning advising you those holdings/units will not be imported into Estateably.
Cancel: go back and fix the Funding Assets page (recommended if you want the statement balances to match).
Continue to Sync: proceed anyway.
Important: any units you do not confirm as Funding Assets will be excluded from the import process, and holding balances in the account will be lower than the statement.