Property Managers + Annual Company Accounts: The Challenge
As property manager, 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 Property Managers with Annual Company Accounts
Convert property management bank statements to Excel to reconcile rent payments, track maintenance costs, and prepare owner distribution reports. For annual company accounts specifically, BankScan AI extracts Opening and closing bank balances, total income received, categorised expenditur automatically.
How Property Managers Handle Annual Company Accounts
When preparing bank statements for annual company accounts, property managers need to Property managers collect rent from tenants via ACH or check, pay property owners their distributions after deducting management fees and expenses, co. BankScan AI automates the data extraction step.
Key terms you'll encounter: owner distribution, CAM charges, security deposit trust, rent roll.
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 property managers 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 Property Managers — Annual Company Accounts
- Built for Property Managers — Saves 4-6 hours per week on rent collection reconciliation and owner distribution preparation for a property manager with 100+ units
- Software compatible — Output works directly with AppFolio, Buildium, QuickBooks
- 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: Property Managers + Annual Company Accounts
When property managers prepare bank statements for annual company accounts, specific compliance requirements apply.
- State property management licensing requirements vary but generally require trust account compliance for tenant funds. Security deposit laws mandate separate accounts in many states. Fair housing regulations intersect with financial records. IRS 1099 reporting is required for owner distributions and vendor payments over $600.
- 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 Property Managers
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 — Property Managers + Annual Company Accounts