Wave + VAT Return: Complete Workflow
Preparing for vat return and using Wave? Quarterly VAT returns require matching bank transactions to sales and purchase invoices. Working from PDF statements adds unnecessary time to an already tight deadline. BankScan AI bridges the gap between your bank's PDF statements and Wave's import feature.
BankScan AI → Wave for VAT Return
Convert bank statement PDFs to CSV formatted for Wave import. Convert bank statements to Excel to quickly identify VAT-bearing transactions, match against invoices, and prepare your VAT return accurately.
How It Works
Upload your bank statement PDF
Supports all major banks. Upload 3 months per VAT quarter (standard scheme); 12 months for annual accounting scheme users 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 vat return
Upload into Wave and use the reconciled data for vat return.
Supported Banks
BankScan AI works with all major UK and US banks, including:
Wave + VAT Return 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 VAT Return — Convert bank statements to Excel to quickly identify VAT-bearing transactions, match against invoices, and prepare your VAT return accurately.
Import for VAT Return into Wave
After converting your bank statements for vat return:
- 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 VAT Return
VAT returns due 1 month and 7 days after the end of the VAT quarter; late submission triggers a surcharge of up to 15% of VAT owed under the default surcharge regime
Convert for Wave + VAT Return