FreeAgent + IRS Audit: Complete Workflow
Preparing for irs audit and using FreeAgent? IRS audits require detailed bank statement analysis to verify reported income, substantiate deductions, and respond to Information Document Requests (IDRs) within tight deadlines. BankScan AI bridges the gap between your bank's PDF statements and FreeAgent's import feature.
BankScan AI → FreeAgent for IRS Audit
Convert bank statement PDFs to CSV / OFX formatted for FreeAgent import. Batch-convert years of bank statements to searchable Excel spreadsheets for rapid IRS audit response, income verification, and deduction substantiation.
How It Works
Upload your bank statement PDF
Supports all major banks. Upload 3 years under normal statute of limitations; 6 years if substantial understatement suspected; unlimited for fraud or unfiled returns 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 irs audit
Upload into FreeAgent and use the reconciled data for irs audit.
Supported Banks
BankScan AI works with all major UK and US banks, including:
FreeAgent + IRS Audit 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 IRS Audit — Batch-convert years of bank statements to searchable Excel spreadsheets for rapid IRS audit response, income verification, and deduction substantiation.
Import for IRS Audit into FreeAgent
After converting your bank statements for irs audit:
- 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 IRS Audit
IDR responses typically due within 10-15 business days; statute of limitations expiry creates urgency for both taxpayer and IRS to resolve the audit
Convert for FreeAgent + IRS Audit