Why Construction Companies Choose BankScan AI
Construction firms juggle CIS deductions, subcontractor payments, material costs, and retention payments — all needing accurate bank reconciliation for HMRC.
How BankScan AI Helps Construction Companies
Convert your bank statements to Excel to quickly match CIS payments, subcontractor invoices, and material costs for VAT returns and CIS submissions.
The Construction Companies Bank Statement Workflow
For construction companies, the core challenge is turning unstructured PDF data into actionable, organised records quickly enough to stay on top of deadlines. BankScan AI eliminates this bottleneck by handling the data extraction automatically, so construction companies can focus on analysis, client advice, and compliance rather than manual data entry.
How Construction Companies Use Bank Statement Data
Construction companies process bank statements to match subcontractor payments against CIS deduction certificates, reconcile material supplier invoices, track retention payments held and released on projects, and prepare monthly CIS returns for HMRC. Project managers often need bank data to verify costs against project budgets.
Key terms you'll encounter: CIS deduction, retention payment, reverse charge VAT, application for payment, valuation.
How It Works
Upload any bank statement PDF
Supports all major UK and US banks. Saves 3-5 hours per month on CIS payment matching and subcontractor reconciliation, reducing errors that can trigger HMRC penalties
AI extracts every transaction
Our AI reads the PDF and pulls out dates, descriptions, amounts, and balances — formatted for construction companies workflows.
Download your spreadsheet
Get a formatted Excel file ready for Sage 50, Xero, Evolution M or direct analysis.
Peak Period Tip for Construction Companies
Monthly CIS return deadlines (19th of each month), quarterly VAT returns, and project milestone payment periods when large volumes of subcontractor payments are processed
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features Construction Companies Love
- Built for Construction Companies — Saves 3-5 hours per month on CIS payment matching and subcontractor reconciliation, reducing errors that can trigger HMRC penalties
- Software compatible — Output works directly with Sage 50, Xero, Evolution M
- Peak period ready — Handles high volumes during monthly cis return deadlines (19th of each month), quarterly vat returns, and project milestone payment periods when large volumes of subcontractor payments are processed
- Solves your challenges — Matching CIS deductions against subcontractor invoices when the net payment amount differs from the invoice total due to tax withholding
Compliance Considerations for Construction Companies
When handling bank statement data, construction companies must comply with relevant regulations.
- HMRC's Construction Industry Scheme (CIS) requires monthly returns and correct deduction of tax from subcontractor payments. Reverse charge VAT for construction services must be applied correctly. Health and Safety Executive levies and CITB training levy obligations must also be tracked from bank transactions.
Start Converting — Built for Construction Companies
Join construction companies across the UK who save hours every week with BankScan AI.
Try Free — Built for Construction Companies