Coconut + Audit Preparation: Complete Workflow
Preparing for audit preparation and using Coconut? Auditors need to verify bank balances and test transactions against financial statements. Getting bank data into a workable format is the first bottleneck. BankScan AI bridges the gap between your bank's PDF statements and Coconut's import feature.
BankScan AI → Coconut for Audit Preparation
Convert bank statement PDFs to CSV formatted for Coconut import. Convert bank statements to structured Excel files for audit testing, balance verification, and transaction sampling. Save hours of data preparation.
How It Works
Upload your bank statement PDF
Supports all major banks. Upload Full financial year (12 months), plus confirmation of opening and closing balances for the period under audit of statements.
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 use for audit preparation
Upload into Coconut and use the reconciled data for audit preparation.
Supported Banks
BankScan AI works with all major UK and US banks, including:
Coconut + Audit Preparation Features
- 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 Audit Preparation — Convert bank statements to structured Excel files for audit testing, balance verification, and transaction sampling. Save hours of data preparation.
Import for Audit Preparation into Coconut
After converting your bank statements for audit preparation:
- 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 for Audit Preparation
Statutory accounts must be filed within 9 months of year-end for private companies; audit fieldwork typically compressed into 2-4 weeks
Convert for Coconut + Audit Preparation