FreeAgent + Management Accounts: Complete Workflow
Preparing for management accounts and using FreeAgent? Preparing monthly management accounts requires categorising all bank transactions by cost centre, project, or department. PDF statements make this analysis difficult. BankScan AI bridges the gap between your bank's PDF statements and FreeAgent's import feature.
BankScan AI → FreeAgent for Management Accounts
Convert bank statement PDFs to CSV / OFX formatted for FreeAgent import. Convert bank statements to Excel spreadsheets for fast categorisation, pivot table analysis, and management reporting. Save hours of manual data extraction.
How It Works
Upload your bank statement PDF
Supports all major banks. Upload Monthly, covering the previous calendar month; some businesses also require quarterly board packs with 3-month rolling data 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 management accounts
Upload into FreeAgent and use the reconciled data for management accounts.
Supported Banks
BankScan AI works with all major UK and US banks, including:
FreeAgent + Management Accounts 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 Management Accounts — Convert bank statements to Excel spreadsheets for fast categorisation, pivot table analysis, and management reporting. Save hours of manual data extraction.
Import for Management Accounts into FreeAgent
After converting your bank statements for management accounts:
- 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 Management Accounts
Management accounts are typically expected within 10-15 working days of month-end to be useful for decision-making; stale data loses its management value
Convert for FreeAgent + Management Accounts