Why Tax Preparers Need OFX Format
As tax preparer, 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 15-20 minutes per return on income verification and expense identification, adding up to 8-12 hours per week during peak tax season
How It Works
Upload any bank statement PDF
Supports all major banks. Saves 15-20 minutes per return on income verification and expense identification, adding up to 8-12 hours per week during peak tax season
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 tax preparers work
Import into TurboTax Pro, Drake Tax, TaxSlayer Pro or use for direct analysis.
OFX Tip for Tax Preparers
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 Tax Preparers
- 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 tax preparers — Saves 15-20 minutes per return on income verification and expense identification, adding up to 8-12 hours per week during peak tax season
- Format compatibility — Direct import into QuickBooks Desktop, Microsoft Money, GnuCash, and other personal finance applications that accept OFX bank feeds
OFX Converter — Built for Tax Preparers
Direct import into QuickBooks Desktop, Microsoft Money, GnuCash, and other personal finance applications that accept OFX bank feeds
Convert to OFX Free