Auto Dealers + Annual Company Accounts: The Challenge
As an auto dealer, preparing bank statements for annual company accounts is a common but time-consuming task. Preparing annual accounts for Companies House requires reconciling a full year of bank transactions. Many small companies still rely on PDF statements from their bank.
How BankScan AI Helps Auto Dealers with Annual Company Accounts
Convert dealership bank statements to spreadsheets for floor plan reconciliation, sales tracking, and manufacturer incentive verification. For annual company accounts specifically, BankScan AI extracts Opening and closing bank balances, total income received, categorised expenditur automatically.
How Auto Dealers Handle Annual Company Accounts
When preparing bank statements for annual company accounts, auto dealers need to Auto dealership controllers reconcile floor plan financing curtailments against vehicle sales, track F&I (Finance and Insurance) product income, verif. BankScan AI automates the data extraction step.
Key terms you'll encounter: floor plan curtailment, deal jacket, holdback, F&I income.
How It Works
Upload bank statement PDFs
Supports all major banks. Upload Full financial year (12 months), aligned to the company's accounting reference date of statements for annual company accounts.
AI extracts what you need
Our AI extracts Opening and closing bank balances, total income received, ca — formatted for auto dealers workflows.
Complete your annual company accounts work
Download Excel files ready for annual company accounts. Full year reconciled to the nominal ledger, with month-end balances matching bank reconciliation statements, ready for trial balance extraction
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features for Auto Dealers — Annual Company Accounts
- Built for Auto Dealers — Saves 3-5 hours per week on floor plan reconciliation and deal funding verification for a dealership selling 100+ vehicles per month
- Software compatible — Output works directly with CDK Global, Reynolds and Reynolds, QuickBooks
- Built for Annual Company Accounts — Convert your full year of bank statements to Excel for fast reconciliation, trial balance preparation, and Companies House filing.
- Key data extracted — Opening and closing bank balances, total income received, categorised expenditure, inter-company transfers, director loan account movements, dividend payments
Compliance: Auto Dealers + Annual Company Accounts
When auto dealers prepare bank statements for annual company accounts, specific compliance requirements apply.
- Auto dealers must comply with FTC Safeguards Rule for customer financial data protection, state dealer licensing requirements, and IRS Form 8300 reporting for cash transactions over $10,000. Floor plan lenders conduct regular audits. OFAC screening requirements apply. State DMV title and registration financial records must be maintained.
- Legal basis: Companies Act 2006 sections 394-397 (duty to prepare accounts) and sections 441-453 (filing requirements and penalties)
Annual Company Accounts — Built for Auto Dealers
Accounts must be filed within 9 months of the accounting year-end for private companies; late filing penalties start at 150 GBP and escalate to 1,500 GBP
Try Free — Auto Dealers + Annual Company Accounts