Multi-Currency Bank Statement Processing: Dext vs AutoEntry
Accounting firms managing international clients need bank statement processing tools that handle multiple currencies accurately while maintaining efficient workflows. Both Dext and AutoEntry advertise multi-currency support, but their approaches to currency recognition, conversion handling, and pricing structures create significantly different experiences for bookkeepers processing statements from global banks.
Dext connects with over 11,500 banks worldwide and processes statements in under 10 minutes using AI technology that claims 99.9% accuracy. The platform allows accountants to create automatic rules for multi-currency management and select the correct currency when setting up bank accounts. AutoEntry supports multiple currencies for international businesses and processes over 28 million documents annually, achieving up to 99% accuracy through proprietary OCR and machine learning.
However, both platforms have critical gaps that impact multi-currency workflows: Dext charges per-client with a 10-client minimum starting at $31.50/month, making it expensive for smaller firms. AutoEntry uses document-based pricing that creates unpredictable costs for high-volume practices. User reviews note AutoEntry occasionally "fails to recognize the currency of the receipt," causing manual correction work that defeats automation benefits.
How Each Platform Handles Multi-Currency Statements
Dext Multi-Currency Capabilities
Automatic Currency Selection: Users select the correct currency when setting up each bank account in the system, ensuring transactions are processed with proper currency codes from the start.
Rule-Based Management: Create automatic rules for transaction matching, tax application, and multi-currency management that apply consistently across client statements.
Global Bank Support: Connections to 11,500+ banks, e-commerce platforms, and payment systems facilitate multi-currency transaction processing across international financial institutions.
Processing Speed: AI processes bank statements and returns them in under 10 minutes, though extraction can take up to 24 hours (75% complete within 4 hours).
AutoEntry Multi-Currency Capabilities
International Document Support: Supports multiple currencies for international businesses, processing documents in various currencies alongside standard data extraction.
Sage Integration: Now owned by Sage, AutoEntry integrates with HMRC-recognized accounting platforms including Xero, Sage, and QuickBooks for multi-currency workflows.
OCR Accuracy: Achieves up to 99% accuracy using proprietary optical character recognition and machine learning AI technology trained on 28+ million documents annually.
Currency Recognition Issues: User reviews report AutoEntry "fails to recognize the currency of the receipt" in some cases, requiring manual correction that undermines automation efficiency.
Processing Speed and Accuracy for International Statements
Processing speed directly impacts month-end close timelines for accounting firms managing clients across multiple countries. Dext's AI technology processes most bank statements in under 10 minutes, with 75% of statements completing extraction within 4 hours. The platform handles both digital PDFs (text-based) and scanned documents (image-based), though digital versions process significantly faster.
AutoEntry processes over 28 million documents annually across 210,000+ businesses worldwide, demonstrating scale capability for high-volume practices. The platform's proprietary OCR and machine learning achieve up to 99% accuracy on financial documents including bank statements, invoices, receipts, and bills. However, the "up to 99%" accuracy qualifier and reported currency recognition failures suggest performance variability on complex multi-currency statements.
The Multi-Currency Accuracy Problem
Accuracy percentages can be misleading when evaluating multi-currency processing. A tool might achieve 99% accuracy on single-currency USD statements but struggle with EUR, GBP, CAD, AUD, or other currencies due to different formatting conventions, decimal separators, and date formats used by international banks.
The real test is whether the platform correctly identifies currency codes, maintains proper decimal precision for each currency, handles exchange rate references in statements, and processes mixed-currency transactions (like foreign transaction fees) without manual intervention. Both Dext and AutoEntry require careful validation when processing statements from banks outside their core markets.
Pricing Models for Multi-Currency Processing
Dext Pricing
Model: Per-client subscription
Starting Cost: $31.50/month minimum
Minimum Commitment: 10 clients required
Bank Statement Processing: Allowance varies by plan
Total Entry Cost: ~$315/month for minimum tier
AutoEntry Pricing
Model: Pay-per-document
Starting Cost: $12/month base
Document Charges: Additional per-extraction fees
Subscription Type: Rolling monthly (cancel anytime)
Trial: 3-month free trial (Sage ownership)
Dext's per-client model creates predictable costs but requires a 10-client minimum commitment, making the platform expensive for smaller bookkeeping practices or accounting firms just starting international work. At $31.50 per client monthly, a firm managing 20 international clients pays $630/month before considering any additional features or overages.
AutoEntry's pay-per-document model offers flexibility and transparency for practices wanting to control costs, but creates unpredictable monthly bills when processing high volumes of multi-currency statements. A firm processing 500 pages of international bank statements monthly faces variable costs that can spike during tax season or when onboarding new global clients.
Feature-by-Feature Comparison: Dext vs AutoEntry vs Zera Books
| Feature | Dext | AutoEntry | Zera Books |
|---|---|---|---|
| Multi-Currency Support | Yes, manual currency selection per account | Yes, with reported recognition issues | Yes, automatic detection across all currencies |
| Processing Speed | Under 10 min (75% within 4 hrs) | Variable based on volume | Instant processing, immediate results |
| Extraction Accuracy | 99.9% claimed | Up to 99% | 99.6% validated accuracy |
| Bank Coverage | 11,500+ bank connections | Major platforms via integrations | Any bank worldwide (dynamic processing) |
| Pricing Model | Per-client ($31.50+/client) | Per-document (from $12/mo) | Unlimited flat rate ($79/mo) |
| Minimum Commitment | 10 clients minimum | None (rolling monthly) | None (cancel anytime) |
| AI Categorization | Rule-based automation | Intelligent categorization | AI trained on 847M+ transactions |
| Multi-Account Detection | Requires separate processing | Manual separation needed | Automatic detection & separation |
| Client Management | Built-in dashboard | Basic organization | Complete client workflow platform |
| QuickBooks Integration | Direct connection | Direct connection | Direct API with auto-categorization |
| Xero Integration | Direct connection | Direct connection | Direct API with auto-categorization |
| Template Training | Not required | Not required | Never required (Zera AI) |
Real-World Workflow Impact for Accounting Firms
Scenario: Boutique Accounting Firm Managing 15 International Clients
DWith Dext
- •Monthly cost: $472.50 (15 clients × $31.50) with 10-client minimum commitment
- •Must manually select currency for each bank account during setup
- •Processing time: 10 minutes to 24 hours per statement batch
- •Annual cost: $5,670 before any additional features or support
AWith AutoEntry
- •Base cost: $12/month plus per-document extraction fees
- •Variable monthly costs based on statement volume (unpredictable budgeting)
- •Risk of currency recognition failures requiring manual correction
- •Must track document usage to control costs during high-volume periods
ZWith Zera Books
- Fixed cost: $79/month unlimited conversions regardless of client count or statement volume
- Automatic currency detection across all international bank formats without manual setup
- Instant processing with immediate results, no waiting periods
- Annual cost: $948 saving $4,722/year vs Dext while processing unlimited multi-currency statements
- AI categorization included for QuickBooks/Xero, reducing reconciliation time per client
The workflow differences compound over time. An accounting firm processing 200 multi-currency statements monthly with Dext pays minimum $315/month for 10 clients (even if managing fewer) and must wait hours for processing. With AutoEntry, document-based charges create billing anxiety and unpredictable costs that spike during tax season when international clients submit quarterly statements.
Zera Books processes those same 200 statements instantly at the same $79/month flat rate, automatically detecting currencies, separating multi-account statements, and categorizing transactions for immediate QuickBooks or Xero import. The predictable cost and instant processing eliminate budgeting concerns and waiting periods that delay month-end close.
Critical Limitations for Multi-Currency Processing
Dext Limitations
- •10-client minimum commitment: Forces small practices to pay for unused capacity ($315/month minimum even managing 5 clients)
- •Manual currency setup: Must select currency for each account individually, creating setup friction for multi-currency firms
- •Processing delays: 10 minutes to 24 hours wait time impacts tight month-end deadlines
- •Per-client pricing scales linearly: Adding international clients directly increases monthly costs
- •Feature bundling: Includes receipt scanning, mileage tracking, and expense management features many accountants don't need
AutoEntry Limitations
- •Currency recognition failures: User reports of "fails to recognize the currency of the receipt" requiring manual correction
- •Unpredictable costs: Per-document pricing creates variable monthly bills that spike with volume
- •"Up to 99%" accuracy qualifier: Suggests performance variability on complex documents like multi-currency statements
- •Usage tracking overhead: Must monitor document consumption to control costs, creating administrative burden
- •Limited client management: Basic organization features compared to comprehensive workflow platforms
The Zera Books Advantage for Multi-Currency Statements
Built Specifically for Accounting Professionals
While Dext and AutoEntry started as general document processing tools, Zera Books was purpose-built for accounting workflows requiring accurate financial data extraction and categorization.
Zera AI: Dynamic Currency Processing
Trained on 2.8+ million bank statements across dozens of currencies and hundreds of countries, Zera AI dynamically recognizes and processes any bank format worldwide without manual currency setup or template training.
- Automatic currency code detection
- Proper decimal precision per currency
- Mixed-currency transaction handling
True Unlimited Pricing
$79/month flat rate regardless of client count, statement volume, or currency complexity. No minimums, no per-document charges, no usage tracking anxiety.
- Predictable monthly costs
- No tax season cost spikes
- Scale without budget concerns
Instant Processing
No waiting periods. Upload multi-currency statements and receive clean, categorized data immediately—ready for QuickBooks or Xero import in seconds, not hours.
- Real-time extraction results
- No processing queues
- Meet tight deadlines
Complete Workflow Platform
Beyond conversion: client management dashboard, AI categorization trained on 847M+ transactions, multi-account auto-detection, and direct QuickBooks/Xero integration.
- Organize by client
- Auto-categorized transactions
- One-click accounting software export
Multi-Currency Processing Without Complexity
Zera Books processes bank statements from any country in any currency with the same simple workflow: upload PDF, receive categorized Excel/QBO/CSV instantly. No currency setup menus, no format configuration, no template training. The platform handles EUR statements from Deutsche Bank, GBP statements from Barclays, CAD statements from RBC, and AUD statements from Commonwealth Bank identically—with 99.6% extraction accuracy maintained across all currencies.
This simplicity matters when managing 20+ international clients across 10+ countries. You spend zero time configuring currency settings or troubleshooting recognition failures, and 100% of your time on actual accounting work that serves clients and generates revenue.
Key Benefits for Multi-Currency Workflows
Eliminate Currency Setup Work
No manual currency selection or account configuration required
Process Unlimited Volumes
No per-document charges or client count limits
Instant Results
No waiting periods that delay month-end close
Predictable Costs
$79/month flat rate regardless of international client growth
Auto-Categorization
AI trained on global transactions categorizes for any accounting software
No Currency Recognition Failures
99.6% accuracy maintained across all currencies worldwide
Frequently Asked Questions
Does Dext automatically detect currencies in bank statements?
No, Dext requires users to manually select the correct currency when setting up each bank account in the system. While this ensures accurate currency assignment, it creates setup friction for accounting firms managing multiple international clients with banks in different countries. You must configure currency settings for each account individually rather than having the platform automatically detect currencies from statement formatting.
Why does AutoEntry sometimes fail to recognize currencies?
User reviews report AutoEntry "fails to recognize the currency of the receipt" in certain cases, likely due to variations in how international banks format currency symbols, codes, and decimal separators. While AutoEntry's OCR achieves "up to 99%" accuracy overall, currency recognition appears to be a specific weakness requiring manual correction. This is particularly problematic for accounting firms processing high volumes of multi-currency statements where even a 5% error rate creates significant manual review work.
What's the minimum cost to use Dext for multi-currency processing?
Dext requires a minimum 10-client commitment at $31.50 per client monthly, creating a $315/month minimum entry cost even if you're only managing 5 international clients. For a boutique accounting firm with 15 global clients, monthly costs reach $472.50 ($5,670 annually) just for bank statement processing. This per-client pricing model makes Dext expensive compared to unlimited alternatives, especially for practices serving numerous small international businesses.
How does Zera Books handle mixed-currency transactions?
Zera Books automatically detects and processes mixed-currency transactions commonly found in international business statements—such as foreign transaction fees, currency conversion charges, and cross-border payments. Zera AI, trained on 847M+ global transactions, recognizes these complex transaction patterns and maintains proper currency codes and decimal precision for each component. This happens automatically without manual currency setup or configuration, unlike Dext's manual selection requirement or AutoEntry's reported recognition issues.
Can I process statements from any bank worldwide with these tools?
Dext supports 11,500+ bank connections globally through direct integrations, while AutoEntry works with major accounting platforms that connect to banks. However, both tools may require setup or formatting adjustments for banks outside their core markets. Zera Books uses dynamic AI processing that handles any bank format worldwide without requiring specific integrations or template training—if it's a bank statement in any currency from any country, Zera AI can process it with the same 99.6% accuracy maintained across all formats.
Which platform offers the best value for accounting firms with 20+ international clients?
For firms managing 20+ international clients, Zera Books provides the best value at $79/month unlimited ($948 annually) versus Dext at $630/month for 20 clients ($7,560 annually) or AutoEntry's unpredictable per-document costs. The $6,612 annual savings with Zera Books pays for the entire platform 8 times over while providing instant processing, automatic currency detection, AI categorization, and client management features that neither competitor includes at their base pricing tiers.