Consultants + Annual Company Accounts: The Challenge
As consultant, 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 Consultants with Annual Company Accounts
Convert your bank statements to structured spreadsheets to match client payments, track project expenses, and prepare invoices and tax returns efficiently. For annual company accounts specifically, BankScan AI extracts Opening and closing bank balances, total income received, categorised expenditur automatically.
How Consultants Handle Annual Company Accounts
When preparing bank statements for annual company accounts, consultants need to Consultants invoice clients on retainer, milestone, or time-and-materials bases, then reconcile bank statements to verify payments received. They trac. BankScan AI automates the data extraction step.
Key terms you'll encounter: retainer, day rate, scope creep, utilisation rate.
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 consultants 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 Consultants — Annual Company Accounts
- Built for Consultants — Saves 1-2 hours per month on client payment reconciliation and expense tracking across multiple concurrent engagements
- Software compatible — Output works directly with Xero, FreeAgent, Harvest
- 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: Consultants + Annual Company Accounts
When consultants prepare bank statements for annual company accounts, specific compliance requirements apply.
- IR35 rules may apply to consultants working through limited companies. VAT registration is common above the threshold. Professional indemnity insurance costs must be tracked. Companies House and corporation tax obligations apply for limited company consultants. Self-employed consultants must file self-assessment returns.
- 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 Consultants
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 — Consultants + Annual Company Accounts