System and method of generating data for populating or updating accounting databases based on digitized accounting source documents

A computer-assisted method of generating data for populating or updating accounting databases based on digitized accounting source documents, the method comprising, at a processor:

• providing access to an entity database comprising identifiers of entities associated with an accounting database;
• providing access to a digital template library comprising a plurality of processing templates for processing digitized accounting source documents, wherein each one of the entities in the entity database is associated with one of the processing templates;
• receiving digitized data representing a digitized accounting source document;
• determining if the digitized data comprises an entity identifier that matches a particular identifier of a particular entity in the entity database;
• and
• in response to determining that the entity identifier matches the particular identifier of the particular entity in the entity database,
• retrieving from the template library a particular processing template associated with the particular entity;
• and
• processing the digitized data to generate processed data, according to the particular processing template, for populating or updating the accounting database based on the processed data,
• wherein the accounting database comprises an inventory database and a non-inventory database, and the template library comprises a first set of processing templates for processing an inventory type of digitized accounting source documents and a second set of processing templates for processing a non-inventory type of digitized accounting source documents.