Why Construction Companies Need OFX Format
As construction business, converting bank statements to OFX saves hours of manual data entry. Open Financial Exchange (.ofx) is a standardised financial data format designed specifically for importing transactions into personal finance and accounting software. Saves 3-5 hours per month on CIS payment matching and subcontractor reconciliation, reducing errors that can trigger HMRC penalties
How It Works
Upload any bank statement PDF
Supports all major banks. Saves 3-5 hours per month on CIS payment matching and subcontractor reconciliation, reducing errors that can trigger HMRC penalties
AI outputs OFX
Our AI extracts all transactions and outputs OFX (.ofx). BankScan AI generates OFX 2.2 compliant files with proper BANKACCTFROM headers,
Use in your construction companies work
Import into Sage 50, Xero, Evolution M or use for direct analysis.
OFX Tip for Construction Companies
BankScan AI generates OFX 2.2 compliant files with proper BANKACCTFROM headers, STMTTRN transaction records, and FITID unique identifiers for each transaction to prevent duplicates on re-import.
Supported Banks
BankScan AI works with all major UK and US banks, including:
OFX Features for Construction Companies
- OFX advantages — Accounting software treats OFX imports like a native bank feed — transactions appear in the bank reconciliation screen ready for matching, rather than requiring manual column mapping.
- Built for construction companies — Saves 3-5 hours per month on CIS payment matching and subcontractor reconciliation, reducing errors that can trigger HMRC penalties
- Format compatibility — Direct import into QuickBooks Desktop, Microsoft Money, GnuCash, and other personal finance applications that accept OFX bank feeds
OFX Converter — Built for Construction Companies
Direct import into QuickBooks Desktop, Microsoft Money, GnuCash, and other personal finance applications that accept OFX bank feeds
Convert to OFX Free