TaxCalc + Financial Advisors (IFAs): Faster Bank Import
Independent financial advisors reviewing client finances need to analyse bank statements to understand spending patterns, income, and savings capacity. If you use TaxCalc for your accounting, you need a fast way to get bank statement data into the system.
BankScan AI for Financial Advisors (IFAs) Using TaxCalc
BankScan AI converts any bank statement PDF to CSV formatted for direct import into TaxCalc. Convert client bank statements to Excel for quick financial analysis, cashflow modelling, and wealth planning presentations.
The Financial Advisors (IFAs) + TaxCalc Workflow
IFAs request bank statements during fact-find meetings to assess client income, expenditure patterns, existing commitments, and savings capacity. They analyse statements to build cashflow models, identify surplus income for investment, and support suitability reports. Statements are also reviewed during annual client reviews to track changes in financial circumstances.
Key terms you'll encounter: fact-find, suitability report, attitude to risk, capacity for loss.
How It Works
Upload any bank statement PDF
Supports all major banks. Saves 30-45 minutes per client fact-find on income and expenditure analysis, with annual reviews completed 20-30 minutes faster per client
AI formats for TaxCalc
Output as CSV with N/A — TaxCalc is tax compliance software, not bookkeeping. Use BankScan AI's Excel output as a working paper alongside TaxCalc. — dates in DD/MM/YYYY (for reference; no direct import).
Import and reconcile
TaxCalc doesn't have direct bank import — use BankScan AI to convert PDFs to CSV, then reference the spreadsheet data when completing income and expense boxes in TaxCalc. TaxCalc's SimpleStep mode walks users through each tax return box — having BankScan AI's categorised bank data open alongside makes completion significantly faster.
Supported Banks
BankScan AI works with all major UK and US banks, including:
TaxCalc Features for Financial Advisors (IFAs)
- TaxCalc ready — Output formatted as CSV matching TaxCalc's expected column structure
- Smart integration — TaxCalc's SimpleStep mode walks users through each tax return box — having BankScan AI's categorised bank data open alongside makes completion significantly faster.
- Built for Financial Advisors (IFAs) — Saves 30-45 minutes per client fact-find on income and expenditure analysis, with annual reviews completed 20-30 minutes faster per client
- Software compatible — Output works directly with Intelliflo, CashCalc, Excel
Import Steps for Financial Advisors (IFAs) Using TaxCalc
As financial advisor, here's how to get bank data into TaxCalc:
- TaxCalc doesn't have direct bank import — use BankScan AI to convert PDFs to CSV, then reference the spreadsheet data when completing income and expense boxes in TaxCalc
Common Import Issues
No direct import — common mistake is trying to import CSV into TaxCalc. Instead, use the spreadsheet as a reference document for completing tax return boxes.
TaxCalc Import — Built for Financial Advisors (IFAs)
Top 3 UK tax software alongside IRIS and Taxfiler. Known for excellent HMRC integration and reliably early MTD updates each tax year.
Try Free — TaxCalc + Financial Advisors (IFAs)