Letting Agents + Annual Company Accounts: The Challenge
As letting 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 Letting Agents with Annual Company Accounts
Convert your client money account statements to Excel for fast reconciliation of rent receipts, deposit transfers, and management fee deductions. For annual company accounts specifically, BankScan AI extracts Opening and closing bank balances, total income received, categorised expenditur automatically.
How Letting Agents Handle Annual Company Accounts
When preparing bank statements for annual company accounts, letting agents need to Letting agents collect rent from tenants into client money accounts, deduct management fees, pay landlords their net rent, handle deposit protection s. BankScan AI automates the data extraction step.
Key terms you'll encounter: client money protection, landlord statement, tenant deposit scheme, management fee.
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 letting 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 Letting Agents — Annual Company Accounts
- Built for Letting Agents — Saves 3-4 hours per week on client money account reconciliation for a letting agent managing 100+ properties
- Software compatible — Output works directly with Goodlord, Arthur Online, PayProp
- 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: Letting Agents + Annual Company Accounts
When letting agents prepare bank statements for annual company accounts, specific compliance requirements apply.
- Letting agents must comply with Client Money Protection (CMP) schemes, which are now mandatory. The Tenant Fees Act 2019 restricts chargeable fees. Deposit protection within 30 days is a legal requirement. ARLA Propertymark members face additional auditing of client money accounts. Anti-money laundering rules apply to property transactions.
- 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 Letting 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 — Letting Agents + Annual Company Accounts