FreeAgent + Audit Preparation: Complete Workflow
Preparing for audit preparation and using FreeAgent? 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 FreeAgent's import feature.
BankScan AI → FreeAgent for Audit Preparation
Convert bank statement PDFs to CSV / OFX formatted for FreeAgent 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 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 use for audit preparation
Upload into FreeAgent and use the reconciled data for audit preparation.
Supported Banks
BankScan AI works with all major UK and US banks, including:
FreeAgent + Audit Preparation Features
- 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 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 FreeAgent
After converting your bank statements for audit preparation:
- 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 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 FreeAgent + Audit Preparation