CPAs (Certified Public Accountants) + Annual Company Accounts: The Challenge
As cpa, 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 CPAs (Certified Public Accountants) with Annual Company Accounts
BankScan AI converts any US bank statement PDF to Excel instantly — supporting Chase, Bank of America, Wells Fargo, Citi, and 30+ US banks for seamless client work. For annual company accounts specifically, BankScan AI extracts Opening and closing bank balances, total income received, categorised expenditur automatically.
How CPAs (Certified Public Accountants) Handle Annual Company Accounts
When preparing bank statements for annual company accounts, cpas (certified public accountants) need to CPAs receive client bank statements for tax return preparation, financial statement compilation and review, and audit procedures. They reconcile bank . BankScan AI automates the data extraction step.
Key terms you'll encounter: bank confirmation, reconciling items, substantive testing, adjusted trial balance.
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 cpas (certified public accountants) 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 CPAs (Certified Public Accountants) — Annual Company Accounts
- Built for CPAs (Certified Public Accountants) — Saves an average of 30 minutes per client per engagement on bank statement data entry, or 10+ hours per week during busy season for a firm with 200+ clients
- Software compatible — Output works directly with QuickBooks Online, Sage Intacct, CCH Axcess
- 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: CPAs (Certified Public Accountants) + Annual Company Accounts
When cpas (certified public accountants) prepare bank statements for annual company accounts, specific compliance requirements apply.
- CPAs must comply with AICPA professional standards and state board licensing requirements. GAAP and GAAS standards govern financial statement preparation and auditing. IRS Circular 230 governs tax practice. Peer review requirements apply to firms performing audits. Client records must be retained per state-specific rules, typically 5-7 years.
- 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 CPAs (Certified Public Accountants)
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 — CPAs (Certified Public Accountants) + Annual Company Accounts