Coconut + Consultants: Faster Bank Import
Consultants managing multiple client engagements need to track retainers, milestone payments, travel expenses, and subcontractor costs across accounts. If you use Coconut for your accounting, you need a fast way to get bank statement data into the system.
BankScan AI for Consultants Using Coconut
BankScan AI converts any bank statement PDF to CSV formatted for direct import into Coconut. Convert your bank statements to structured spreadsheets to match client payments, track project expenses, and prepare invoices and tax returns efficiently.
The Consultants + Coconut Workflow
Consultants invoice clients on retainer, milestone, or time-and-materials bases, then reconcile bank statements to verify payments received. They track project-specific expenses including travel, accommodation, and subcontractor fees, allocate costs to engagements for profitability analysis, and prepare records for quarterly VAT and annual tax returns.
Key terms you'll encounter: retainer, day rate, scope creep, utilisation rate.
How It Works
Upload any bank statement PDF
Supports all major banks. Saves 1-2 hours per month on client payment reconciliation and expense tracking across multiple concurrent engagements
AI formats for Coconut
Output as CSV with Date, Description, Amount — Coconut accepts a single amount column with positive for income and negative for expenses — dates in DD/MM/YYYY.
Import and reconcile
In Coconut, go to Transactions > Import. Upload the CSV from BankScan AI to bring in transactions from external bank accounts alongside your Coconut banking data. Coconut auto-categorises imported transactions by comparing them against your existing Coconut transaction categories, learning your categorisation preferences over time.
Supported Banks
BankScan AI works with all major UK and US banks, including:
Coconut Features for Consultants
- Coconut ready — Output formatted as CSV matching Coconut's expected column structure
- Smart integration — Coconut auto-categorises imported transactions by comparing them against your existing Coconut transaction categories, learning your categorisation preferences over time.
- Built for Consultants — Saves 1-2 hours per month on client payment reconciliation and expense tracking across multiple concurrent engagements
- Software compatible — Output works directly with Xero, FreeAgent, Harvest
Import Steps for Consultants Using Coconut
As consultant, here's how to get bank data into Coconut:
- In Coconut, go to Transactions > Import
- Upload the CSV from BankScan AI to bring in transactions from external bank accounts alongside your Coconut banking data
Common Import Issues
Coconut is primarily a banking app — the import feature is designed for bringing in transactions from non-Coconut accounts. Large file imports may time out on mobile.
Coconut Import — Built for Consultants
Niche player combining business banking with basic bookkeeping. Targets freelancers who want banking and accounting in one app without managing separate tools.
Try Free — Coconut + Consultants