Enrolled Agents + Annual Company Accounts: The Challenge
As an enrolled agent, 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 Enrolled Agents with Annual Company Accounts
Batch-convert client bank statements to Excel for fast income verification, deduction substantiation, and IRS examination responses. For annual company accounts specifically, BankScan AI extracts Opening and closing bank balances, total income received, categorised expenditur automatically.
How Enrolled Agents Handle Annual Company Accounts
When preparing bank statements for annual company accounts, enrolled agents need to Enrolled Agents review client bank statements to verify income reported on tax returns, identify unreported income during IRS examinations, substantia. BankScan AI automates the data extraction step.
Key terms you'll encounter: IRS examination, correspondence audit, bank deposit analysis, Circular 230.
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 enrolled agents 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 Enrolled Agents — Annual Company Accounts
- Built for Enrolled Agents — Saves 1-2 hours per IRS examination response on bank statement analysis, plus 20-30 minutes per tax return during filing season on income verification
- Software compatible — Output works directly with Drake Tax, Lacerte, ProConnect Tax
- 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: Enrolled Agents + Annual Company Accounts
When enrolled agents prepare bank statements for annual company accounts, specific compliance requirements apply.
- Enrolled Agents are federally licensed by the IRS under Circular 230 and must complete 72 hours of continuing education every 3 years. They have unlimited practice rights before the IRS. They must maintain client confidentiality under IRC Section 7216 and follow IRS e-file requirements. PTIN renewal is required annually.
- 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 Enrolled Agents
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 — Enrolled Agents + Annual Company Accounts