FreeAgent + Debt Management: Complete Workflow
Preparing for debt management and using FreeAgent? Debt management advisors and IVA supervisors need detailed analysis of a debtor's bank statements to assess income, essential spending, and disposable income. BankScan AI bridges the gap between your bank's PDF statements and FreeAgent's import feature.
BankScan AI → FreeAgent for Debt Management
Convert bank statement PDFs to CSV / OFX formatted for FreeAgent import. Convert bank statements to Excel to quickly categorise income and expenditure, calculate disposable income, and prepare debt management or IVA proposals.
How It Works
Upload your bank statement PDF
Supports all major banks. Upload 3-6 months of recent statements to establish a reliable income and expenditure pattern for the proposal 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 debt management
Upload into FreeAgent and use the reconciled data for debt management.
Supported Banks
BankScan AI works with all major UK and US banks, including:
FreeAgent + Debt Management 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 Debt Management — Convert bank statements to Excel to quickly categorise income and expenditure, calculate disposable income, and prepare debt management or IVA proposals.
Import for Debt Management into FreeAgent
After converting your bank statements for debt management:
- 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 Debt Management
IVA proposals must be sent to creditors within 14 days of the nominee's report; debt management plans need quick setup to stop creditor action and interest accrual
Convert for FreeAgent + Debt Management