Fields Supported Fields Supported

Additional information fields in W2 forms provide valuable supplementary data about employee benefits, special compensation arrangements, and other critical details. These fields offer important context for tax treatment and benefits administration. While often complex, accurate extraction of this information is essential for comprehensive tax reporting and compliance. Applications of Additional Information Extraction Supported Additional Information […]

The wage and tax information fields in W2 forms represent the core financial data that employers, employees, and tax authorities rely on for accurate income reporting and tax compliance. These fields, including wages, federal withholdings, Social Security, and Medicare information, form the backbone of payroll tax reporting and verification. While critical, manual extraction of this […]

State and local tax information fields in W2 forms are essential components that ensure accurate regional tax reporting and compliance. These fields track wages and withholdings at state and local levels, making them crucial for multi-jurisdictional tax reporting. With varying tax requirements across different localities, automated extraction of this data becomes vital for maintaining accuracy […]

Checkbox fields in W2 forms, while appearing simple, carry crucial information about employee status, retirement plans, and benefits. These checkboxes in Box 13 provide essential insights for tax treatment and benefits administration, making accurate checkbox extraction vital for proper tax reporting and employee benefits management. Applications of Checkbox Information Extraction Supported Checkbox Fields As of […]

Basic information fields form the cornerstone of W2 documentation, containing essential identification and organizational data. These fields, including employee and employer details, provide the fundamental context for all tax and wage reporting. Accurate extraction of this information is crucial for maintaining compliance and ensuring proper tax filing. Applications of Basic Information Extraction Supported Basic Information […]

Bank information fields on statements, such as bank names, addresses, and websites, play a vital role in financial operations and compliance. These details are essential for verifying transactions, managing correspondent banking relationships, and conducting anti-money laundering (AML) checks. As the volume of financial data grows, manual processing of this information becomes increasingly challenging. We’ll examine […]

Transaction line-items are the most granular and data-rich components of bank statements. These fields, including transaction dates, amounts, descriptions, and card numbers, offer detailed insights into financial activities. Analyzing this data manually is not only labor-intensive but also limits the depth of insights that can be gleaned. We’ll explore how automated extraction of transaction line-items […]

Total fields in bank statements, including beginning balances, ending balances, and minimum due amounts, are critical for financial analysis and cash flow management. These figures provide a snapshot of an account’s financial health and are used in everything from reconciliation to credit risk assessment. However, manually tracking and analyzing these numbers across multiple accounts and […]

Account information fields in bank statements are crucial data points that financial institutions, auditors, and businesses rely on for various operations. These fields, including account holder details, statement periods, and account types, form the foundation of financial record-keeping and analysis. However, the manual extraction of this data is often prone to errors and inefficiencies. This […]

The accurate extraction of bank information from checks remains a critical yet challenging task for many organizations. Particularly, the bank name and address fields on checks contain valuable data that, when properly leveraged, can significantly enhance financial operations, compliance efforts, and customer insights. However, manual extraction of this information is often time-consuming, error-prone, and resource-intensive. […]

In the intricate world of financial transactions, checks continue to play a significant role despite the rise of digital payment methods. However, the true value of checks lies not just in their monetary amount, but in the wealth of meta information they contain. Meta data, including OCR text, date, payer name, payer address, receiver name, […]

Extracting data from bank checks, particularly check number fields, has long been a thorn in the side of financial institutions and businesses alike.  Consider this: a medium-sized business processing 1,000 checks per month. With manual data entry, each check takes an average of 2 minutes to process, and the error rate hovers around 4%. That’s […]

Harnessing structured data from bank checks, particularly the MICR (Magnetic Ink Character Recognition) fields, offers tremendous potential for understanding financial transactions and optimizing banking processes. With Veryfi’s advanced OCR APIs for check MICR fields at your disposal, extracting this valuable information becomes a matter of seconds. By simply uploading check images to the Veryfi portal, […]

Bank fields are the different pieces of information that banks store about their customers. Veryfi’s powerful OCR API can extract bank fields from common financial documents like invoices and checks. Bank Fields Category of Bank Fields Bank Fields Explained With the data associated with these fields, you can perform various banking operations such as transferring […]

Possessing structured data on the vendors your firm regularly engages with holds significant potential in comprehending financial flows and optimizing vendor relationships. With the Veryfi APIs at your disposal, gaining these insights becomes a matter of seconds. By simply uploading your documents to the Veryfi portal, you gain immediate access to a wealth of data […]

The concept of a date The concept of a date, as in the day of the month or year as specified by a number, has been around for centuries. The first known calendars were developed in ancient Egypt and Babylonia, and they used a variety of different systems to track the passage of time. The […]

A barcode is a machine-readable representation of data, commonly used for product identification in stores. It consists of parallel lines of varying widths that are scanned and decoded by barcode scanners. Barcodes are prevalent in industries like retail, manufacturing, shipping, and logistics, facilitating inventory tracking, order management, and product authentication. They can also provide consumers […]

The line-item fields, as described on the supported fields page, are readily available and fully functional from the outset. This comprehensive set of data points holds significant potential across various domains, particularly in FinTech and CPG Loyalty programs. The line-item fields offer a wealth of additional information, enabling deeper insights and facilitating specific applications such […]

The fields listed on the supported fields page are readily available and fully functional from day one. These fields encompass a robust collection of data points with versatile applications, allowing your organization to gain valuable insights regarding expenditure, taxation, shipping, currency, and financial reconciliation. Some examples of these financial fields include: Use Cases for Financial […]