Charities & Non-Profits + Annual Company Accounts: The Challenge
As charity, 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 Charities & Non-Profits with Annual Company Accounts
Make bank statement reconciliation simple for volunteer treasurers. Upload statements, get clean spreadsheets for your financial reports. For annual company accounts specifically, BankScan AI extracts Opening and closing bank balances, total income received, categorised expenditur automatically.
How Charities & Non-Profits Handle Annual Company Accounts
When preparing bank statements for annual company accounts, charities & non-profits need to Charity treasurers collect bank statements monthly, reconcile them against donation records and grant income, allocate expenditure to restricted and u. BankScan AI automates the data extraction step.
Key terms you'll encounter: restricted funds, unrestricted funds, fund accounting, Charity SORP.
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 charities & non-profits 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 Charities & Non-Profits — Annual Company Accounts
- Built for Charities & Non-Profits — Saves volunteer treasurers 2-3 hours per month on bank reconciliation, reducing reliance on accounting expertise that small charities often lack
- Software compatible — Output works directly with Xero, QuickBooks, LibreOffice Calc
- 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: Charities & Non-Profits + Annual Company Accounts
When charities & non-profits prepare bank statements for annual company accounts, specific compliance requirements apply.
- Charities with income over 250,000 GBP must have accounts independently examined or audited. The Charity Commission requires annual accounts and returns, and SORP (Statement of Recommended Practice) governs how charity accounts are prepared. Fund accounting rules require income to be tracked against specific restricted funds.
- 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 Charities & Non-Profits
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 — Charities & Non-Profits + Annual Company Accounts