Nanonets vs ProperConvert: AI document extraction and statement conversion compared
Nanonets and ProperConvert
Nanonets and ProperConvert both extract transactions from bank statements. Nanonets is an AI document platform for finance teams and enterprises, with workflows, approvals and an API, and bank statements are one of its models. ProperConvert is a desktop converter for one bookkeeper at a time. This page lists what each one is and what it costs.
The facts below were checked on the two official websites on September 24, 2026. Prices and plans change; the links go to the current pages.
What Nanonets is
Nanonets is an intelligent document processing platform with a pre-trained bank statement model that needs no template setup. Statements arrive as PDFs, images or emailed attachments; the model extracts balances, dates, payees and custom fields; a File Review screen lets a reviewer approve, reject or comment, with approval gates for edge cases; and the results flow to QuickBooks Online, QuickBooks Desktop, Xero, Sage, NetSuite, Google Sheets, Zapier, SFTP or the API. Deployment is cloud by default, with VPC, single-tenant and on-premise options for enterprises, and the site says it is used by 35% of the Fortune 500.
Bank file formats such as QBO, OFX or QIF are not named; the path into accounting software is the integration, not a file.
Nanonets pricing
Nanonets is priced in credits per workflow step: $0.02 for a simple block, $0.10 for a standard AI block and $0.30 for a complex one, with a typical document running four to six blocks. The Starter plan gives $50 in credits to begin with no card, then $100 per month for 100 credits. Growth has volume pricing with up to 40% off, and Enterprise is custom. There is a free trial that can be cancelled at any time.
What ProperConvert is
ProperConvert is one desktop application for Windows and macOS. It opens PDF statements, scanned PDF statements, CSV and Excel files, and QBO, QFX, OFX, QIF and QMTF files, shows the transactions in a table where you can review, edit, exclude and rename payees, and saves QBO, IIF, QFX, QIF, OFX, CSV and Excel files for QuickBooks Desktop, QuickBooks Online, Quicken, Xero, Sage and other accounting software. The conversion runs on your computer. Statements are never uploaded to a server.
ProperConvert pricing is one subscription for everything: $19.99 per month or $179.99 per year for one user, and a Team plan of three users at $49.98 per month or $449.97 per year. There are no page, statement or transaction limits, all formats are included, updates are free, and there is a 14-day money-back guarantee. A free trial is on the download page.
Nanonets and ProperConvert side by side
| Point | Nanonets | ProperConvert |
|---|---|---|
| Product shape | Cloud AI document platform with workflows, approvals and an API | One desktop app that converts files |
| Platform | Web and API; VPC or on-premise for enterprise | Windows and macOS desktop app |
| Where files are processed | Uploaded to Nanonets' cloud by default | On your computer, always |
| Inputs | Bank statements and any document as PDF, JPG, PNG, TIFF, or email attachments | PDF, scanned PDF, CSV, Excel, text, QBO, QFX, OFX, QIF, QMTF |
| Outputs | Integrations with QuickBooks Online and Desktop, Xero, Sage, NetSuite, Google Sheets, Zapier, SFTP; JSON by API | QBO, IIF, QFX, QIF, OFX, CSV, Excel, and paste to clipboard |
| Accounting import files | None named; integrations instead of QBO, OFX or QIF files | QBO, QFX, QIF, OFX and IIF for QuickBooks, Quicken, Xero, Sage and others |
| Scanned statements | Yes, including low-resolution images | Yes, OCR built in |
| Review before export | File Review with approve, reject and comments | Full transaction table: edit, exclude, rename payees with rules |
| Pricing model | Credits per workflow block; Starter $100 per month for 100 credits after $50 free | Subscription from $19.99 per month or $179.99 per year, everything included |
| Free use or trial | $50 in credits, no card | Free trial, 14-day money-back guarantee |
| Limits | Credits; four to six per document | No page, statement or transaction limits |
| Beyond statement conversion | Any document, workflow automation, approvals, enterprise deployment | Conversion only |
Which one fits
Nanonets fits a finance team that processes many document types, wants approvals and audit trails around them, and needs the data pushed into NetSuite, QuickBooks or an ERP through an integration or API. It is priced and built for that scale.
ProperConvert fits a bookkeeper, accountant or business owner who has statements to convert today, wants to see every row before it posts, and needs a bank file for QuickBooks, Quicken, Xero or Sage. It costs $19.99 a month for any number of statements, runs on Windows or Mac, and never uploads the file.
Questions people ask
Does Nanonets export a QBO or OFX file?
The site lists integrations with QuickBooks, Xero, Sage and NetSuite and JSON output by API; bank file formats are not named. ProperConvert saves QBO, IIF, QFX, QIF and OFX files.
How much does Nanonets cost for bank statements?
Credits per workflow block, $0.02 to $0.30 each, with a typical document at four to six blocks; the Starter plan is $100 per month for 100 credits after $50 free. ProperConvert is $19.99 per month with no per-document cost.
Can Nanonets run on my own computer?
On-premise and VPC deployments are for enterprise plans; the default is cloud. ProperConvert is a desktop app that processes statements locally on every plan.
What is a Nanonets alternative for a small practice?
ProperConvert, for statement conversion into accounting files without the platform.
Compare Nanonets with another tool
Pick a second tool to see it beside Nanonets and ProperConvert in one table.