Architects + Management Accounts: The Challenge
As an architect, preparing bank statements for management accounts is a common but time-consuming task. Preparing monthly management accounts requires categorising all bank transactions by cost centre, project, or department. PDF statements make this analysis difficult.
How BankScan AI Helps Architects with Management Accounts
Convert your bank statements to structured spreadsheets to match stage payments against projects, track professional fees, and prepare for your accountant. For management accounts specifically, BankScan AI extracts Revenue by stream, cost of sales, overheads by category, payroll costs, gross an automatically.
How Architects Handle Management Accounts
When preparing bank statements for management accounts, architects need to Architects invoice clients at RIBA work stages (concept, developed design, technical design, construction), then reconcile bank statements to verify p. BankScan AI automates the data extraction step.
Key terms you'll encounter: RIBA work stages, stage payment, fee proposal, professional indemnity.
How It Works
Upload bank statement PDFs
Supports all major banks. Upload Monthly, covering the previous calendar month; some businesses also require quarterly board packs with 3-month rolling data of statements for management accounts.
AI extracts what you need
Our AI extracts Revenue by stream, cost of sales, overheads by category, pay — formatted for architects workflows.
Complete your management accounts work
Download Excel files ready for management accounts. Transactions categorised by nominal code or cost centre, with pivot-table-ready structure for departmental P&L analysis and budget-versus-actual comparison
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features for Architects — Management Accounts
- Built for Architects — Saves 1-2 hours per month on project payment tracking and expense allocation across concurrent projects for a typical small practice
- Software compatible — Output works directly with Xero, FreeAgent, Harvest
- Built for Management Accounts — Convert bank statements to Excel spreadsheets for fast categorisation, pivot table analysis, and management reporting. Save hours of manual data extraction.
- Key data extracted — Revenue by stream, cost of sales, overheads by category, payroll costs, gross and net profit margins, cash position versus budget, variance analysis
Compliance: Architects + Management Accounts
When architects prepare bank statements for management accounts, specific compliance requirements apply.
- ARB (Architects Registration Board) registration is required to practise. Professional indemnity insurance is mandatory and costs must be tracked. RIBA Chartered Practice standards include financial management requirements. CIS may apply when architects act as principal contractors.
- Legal basis: No statutory requirement for management accounts, but directors have a fiduciary duty under Companies Act 2006 section 172 to make informed decisions about the company
Management Accounts — Built for Architects
Management accounts are typically expected within 10-15 working days of month-end to be useful for decision-making; stale data loses its management value
Try Free — Architects + Management Accounts