Doctors & GPs + Management Accounts: The Challenge
As doctor, preparing bank statements for management accounts is a common but time-consuming task. Preparing monthly management accounts requires categorising all bank transactions by cost centre, project, or department. PDF statements make this analysis difficult.
How BankScan AI Helps Doctors & GPs with Management Accounts
Automate bank statement conversion for your practice accounts so your accountant can quickly reconcile NHS payments and private income. For management accounts specifically, BankScan AI extracts Revenue by stream, cost of sales, overheads by category, payroll costs, gross an automatically.
How Doctors & GPs Handle Management Accounts
When preparing bank statements for management accounts, doctors & gps need to GP practices receive Global Sum payments from NHS England, enhanced service payments, QOF achievement payments, and private income. Practice managers . BankScan AI automates the data extraction step.
Key terms you'll encounter: Global Sum, QOF payments, partner drawings, PCSE schedule.
How It Works
Upload bank statement PDFs
Supports all major banks. Upload Monthly, covering the previous calendar month; some businesses also require quarterly board packs with 3-month rolling data of statements for management accounts.
AI extracts what you need
Our AI extracts Revenue by stream, cost of sales, overheads by category, pay — formatted for doctors & gps workflows.
Complete your management accounts work
Download Excel files ready for management accounts. Transactions categorised by nominal code or cost centre, with pivot-table-ready structure for departmental P&L analysis and budget-versus-actual comparison
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features for Doctors & GPs — Management Accounts
- Built for Doctors & GPs — Saves the practice manager 3-4 hours per month on NHS payment reconciliation and partner drawings tracking
- Software compatible — Output works directly with Sage, Xero, IRIS GP Accounts
- Built for Management Accounts — Convert bank statements to Excel spreadsheets for fast categorisation, pivot table analysis, and management reporting. Save hours of manual data extraction.
- Key data extracted — Revenue by stream, cost of sales, overheads by category, payroll costs, gross and net profit margins, cash position versus budget, variance analysis
Compliance: Doctors & GPs + Management Accounts
When doctors & gps prepare bank statements for management accounts, specific compliance requirements apply.
- NHS GP contracts require accurate financial reporting to PCNs and ICBs. Partnership agreements dictate profit-sharing arrangements that depend on accurate bank reconciliation. CQC financial governance standards apply, and superannuation contributions must be correctly calculated from practice income.
- Legal basis: No statutory requirement for management accounts, but directors have a fiduciary duty under Companies Act 2006 section 172 to make informed decisions about the company
Management Accounts — Built for Doctors & GPs
Management accounts are typically expected within 10-15 working days of month-end to be useful for decision-making; stale data loses its management value
Try Free — Doctors & GPs + Management Accounts