Tradespeople (Plumbers, Electricians) + Annual Company Accounts: The Challenge
As tradesperson, 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 Tradespeople (Plumbers, Electricians) with Annual Company Accounts
Convert your bank statements to Excel to track job payments, match material purchases, and get your books ready for self-assessment without hours of data entry. For annual company accounts specifically, BankScan AI extracts Opening and closing bank balances, total income received, categorised expenditur automatically.
How Tradespeople (Plumbers, Electricians) Handle Annual Company Accounts
When preparing bank statements for annual company accounts, tradespeople (plumbers, electricians) need to Tradespeople receive customer payments via bank transfer, cash, or card, purchase materials from builders' merchants and wholesalers, pay for van fuel. BankScan AI automates the data extraction step.
Key terms you'll encounter: day rate, materials markup, call-out charge, retention.
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 tradespeople (plumbers, electricians) 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 Tradespeople (Plumbers, Electricians) — Annual Company Accounts
- Built for Tradespeople (Plumbers, Electricians) — Saves 2-3 hours per month on expense categorisation and receipt matching, with year-end self-assessment preparation reduced from a full day to under 2 hours
- Software compatible — Output works directly with QuickBooks Self-Employed, FreeAgent, Excel
- 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: Tradespeople (Plumbers, Electricians) + Annual Company Accounts
When tradespeople (plumbers, electricians) prepare bank statements for annual company accounts, specific compliance requirements apply.
- Self-employed tradespeople must register with HMRC and file self-assessment returns. CIS applies if working as a subcontractor in construction. Gas Safe registration (gas engineers), NICEIC/NAPIT (electricians), and other trade body memberships have costs that must be tracked. VAT registration is required above the threshold.
- 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 Tradespeople (Plumbers, Electricians)
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 — Tradespeople (Plumbers, Electricians) + Annual Company Accounts