Wave + Audit Preparation: Complete Workflow
Preparing for audit preparation and using Wave? Auditors need to verify bank balances and test transactions against financial statements. Getting bank data into a workable format is the first bottleneck. BankScan AI bridges the gap between your bank's PDF statements and Wave's import feature.
BankScan AI → Wave for Audit Preparation
Convert bank statement PDFs to CSV formatted for Wave import. Convert bank statements to structured Excel files for audit testing, balance verification, and transaction sampling. Save hours of data preparation.
How It Works
Upload your bank statement PDF
Supports all major banks. Upload Full financial year (12 months), plus confirmation of opening and closing balances for the period under audit of statements.
AI formats for Wave
Output as CSV with Date, Description, Amount — Wave supports both single amount column and separate Income/Expense columns — dates in YYYY-MM-DD or MM/DD/YYYY.
Import and use for audit preparation
Upload into Wave and use the reconciled data for audit preparation.
Supported Banks
BankScan AI works with all major UK and US banks, including:
Wave + Audit Preparation Features
- Wave ready — Output formatted as CSV matching Wave's expected column structure
- Smart integration — Wave's invoicing is tightly coupled with bank imports — when you import a bank deposit, Wave suggests matching it to outstanding invoices automatically.
- Built for Audit Preparation — Convert bank statements to structured Excel files for audit testing, balance verification, and transaction sampling. Save hours of data preparation.
Import for Audit Preparation into Wave
After converting your bank statements for audit preparation:
- In Wave, go to Banking > Connected Accounts > Upload a bank statement (CSV)
- Select the file, map columns to Date, Description, and Amount, then import
Common Import Issues
Wave's free tier has occasional processing delays on large files. Also, Wave uses MM/DD/YYYY by default which conflicts with UK DD/MM/YYYY — select the correct format during import.
Wave Import for Audit Preparation
Statutory accounts must be filed within 9 months of year-end for private companies; audit fieldwork typically compressed into 2-4 weeks
Convert for Wave + Audit Preparation