A NIKASH alternative that shows its working
NIKASH is a free, browser-based converter that turns bank statements into Excel and Tally XML, and it advertises 100% accurate data extraction. StatementFlow takes the opposite stance on accuracy: no extraction is perfect, so every transaction is checked against the statement's own running balance and anything that doesn't reconcile is flagged for you before export — rather than promising perfection.
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Drag & drop a PDF, scan, or photo — any bank. Our AI extracts every transaction and exports to Excel, CSV, QBO, or OFX.
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Encrypted in transit · Processed in memory · Deleted immediately
StatementFlow vs NIKASH
| StatementFlow | NIKASH | |
|---|---|---|
| Tally XML export | Yes — imports as vouchers | Yes |
| Excel / CSV export | Yes | Yes |
| Scans & image files | Yes | Yes |
| Balance reconciliation | Every row checked against the running balance, mismatches flagged | Claims 100% accurate extraction |
| Accounting-software exports | Also QuickBooks (QBO) and Xero (OFX) | Excel and Tally XML |
| Editable review table | Inline editing, filters, undo before export | Not documented |
| Data handling | Processed in memory, deleted immediately, never stored | Not stated on the converter page |
| Per-bank guidance | 51 Indian bank pages with layout and download notes | General multi-bank support |
Comparison based on publicly available information as of August 2026. NIKASH’s features and pricing may change — check their site for the latest.
Why people switch to StatementFlow
"100% accurate" isn't a thing — verification is
Any system reading a smudged passbook line can misread a digit. What matters is whether it tells you. Every row is reconciled against the running balance the statement itself prints, so an error surfaces as a flag instead of a wrong figure in your books.
You can fix it before it reaches Tally
The extracted table is editable — correct a narration or an amount, filter, undo — and only then export. Catching it here costs seconds; catching it after the vouchers are posted costs a reclassification pass.
Clear about what happens to your file
Your statement is processed in memory to extract the transactions and then deleted immediately. Nothing is stored, and that promise is on the page rather than left unstated.
More than one destination
The same conversion exports Tally XML, Excel, CSV, QuickBooks (QBO), and Xero (OFX) — useful when a practice has clients on different software.
NIKASH alternative — questions
Is StatementFlow free like NIKASH?+
There's a permanent free tier — 10 pages a month, no credit card, and you can convert before creating an account. Higher volumes are covered by Pro and Business plans, and paid credits never expire.
How do you handle a misread number?+
Each transaction is checked against the statement's running balance. Any row that doesn't reconcile is flagged in the review table so you can correct it before exporting to Tally.
Can I edit transactions before exporting?+
Yes. The extracted table supports inline editing, filtering, and undo, so you can fix a narration or amount before generating the Tally XML.
What happens to my bank statement file?+
It is processed in memory to extract the transactions and deleted immediately afterwards. We never store your statements.
See full pricing or browse supported banks.