FreeAgent + Restaurants & Hospitality: Faster Bank Import
Restaurants process hundreds of card transactions daily, plus supplier payments. Reconciling bank statements with POS data is a major headache. If you use FreeAgent for your accounting, you need a fast way to get bank statement data into the system.
BankScan AI for Restaurants & Hospitality Using FreeAgent
BankScan AI converts any bank statement PDF to CSV / OFX formatted for direct import into FreeAgent. Upload your restaurant bank statements and get clean spreadsheets to reconcile against your POS system, suppliers, and HMRC VAT returns.
The Restaurants & Hospitality + FreeAgent Workflow
Restaurant owners or their bookkeepers reconcile daily card terminal settlements against POS end-of-day reports, match supplier invoice payments, track staff wages and tips, and prepare weekly or monthly cash flow summaries. VAT returns require splitting transactions between standard-rated food sales, zero-rated takeaway, and exempt items.
Key terms you'll encounter: POS reconciliation, card terminal settlement, tronc scheme, wet sales.
How It Works
Upload any bank statement PDF
Supports all major banks. Saves 3-4 hours per week on daily POS-to-bank reconciliation and supplier payment matching for a typical restaurant with 200+ daily transactions
AI formats for FreeAgent
Output as CSV / OFX with Date, Description, Amount (single column) — FreeAgent also accepts OFX files which skip the column mapping step entirely — dates in DD/MM/YYYY.
Import and reconcile
In FreeAgent, go to Banking > select your account > Import Bank Statement. Choose CSV or OFX format, upload the file, and FreeAgent will parse the transactions automatically. FreeAgent automatically estimates your tax bill in real-time as transactions are imported, giving sole traders an up-to-date picture of their tax liability.
Supported Banks
BankScan AI works with all major UK and US banks, including:
FreeAgent Features for Restaurants & Hospitality
- FreeAgent ready — Output formatted as CSV / OFX matching FreeAgent's expected column structure
- Smart integration — FreeAgent automatically estimates your tax bill in real-time as transactions are imported, giving sole traders an up-to-date picture of their tax liability.
- Built for Restaurants & Hospitality — Saves 3-4 hours per week on daily POS-to-bank reconciliation and supplier payment matching for a typical restaurant with 200+ daily transactions
- Software compatible — Output works directly with Xero, MarketMan, QuickBooks
Import Steps for Restaurants & Hospitality Using FreeAgent
As restaurant owner, here's how to get bank data into FreeAgent:
- In FreeAgent, go to Banking > select your account > Import Bank Statement
- Choose CSV or OFX format, upload the file, and FreeAgent will parse the transactions automatically
Common Import Issues
FreeAgent can struggle with CSV files that have extra header rows or summary rows at the bottom. Ensure only transaction data rows are included.
FreeAgent Import — Built for Restaurants & Hospitality
Free for NatWest, RBS, and Ulster Bank business customers. Popular among UK freelancers and contractors for its simple self-assessment tax return filing.
Try Free — FreeAgent + Restaurants & Hospitality