Bank statement PDF to FreeAgent

FreeAgent is popular with sole traders and small limited companies, and many of them come to it from NatWest Group banks, where it has often been offered to business customers. A bank feed is the usual way in, but for history before the feed, or a gap, you need to upload a statement file.

What FreeAgent expects

FreeAgent’s statement upload accepts formats including OFX, QIF and CSV. For CSV, FreeAgent describes a simple layout: one row per transaction with the date (dd/mm/yyyy), the amount (negative for money out) and a description. Check FreeAgent’s help for the current rules, such as whether a header row is allowed, before you upload.

There isn’t a dedicated FreeAgent export here yet. The QuickBooks CSV already has the three things FreeAgent needs (date, signed amount and description), just in a different column order.

Steps

1. Convert the statementChoose the PDF above and check it says “Verified”.
2. Download the QuickBooks CSVIt has Date, Description and Amount columns.
3. Rearrange in a spreadsheetMove the Amount column so it sits between Date and Description. If FreeAgent asks for no header row, delete the first row. Save as CSV, keeping dd/mm/yyyy dates (see opening a CSV without breaking dates).
4. Upload in FreeAgentOpen the bank account in FreeAgent’s banking area and choose the option to upload a statement, then select the file.
5. Explain the transactionsThe uploaded transactions appear as unexplained, ready for you to categorise.

Avoid overlaps with the feed

If the account already has a feed, check the earliest transaction FreeAgent has and only upload transactions from before it. FreeAgent will usually warn about likely duplicates, but it’s quicker not to create them.

Catching up a whole year

For a sole trader’s first year on FreeAgent, use “Several statements” to check the year for missing months and duplicates, then download one QuickBooks CSV and rearrange it once.