# AI for statutory accounts and accounts production

Source: https://www.statutoryaccounts.io/software/ai-statutory-accounts/

Last reviewed: 28 October 2026

AI is useful in preparing statutory accounts for two jobs: suggesting which Companies Act line item each nominal account belongs to, and drafting the wording of notes and reports from the company's facts. The amounts should come from fixed calculations, and the judgements and the approval stay with the directors, who are responsible for the accounts they sign.

## Key facts

| | |
| --- | --- |
| Good uses of AI | Mapping nominal accounts to line items; drafting notes, the directors' report and the strategic report; reading last year's accounts |
| Not for AI | Totals, tax, comparatives and other amounts; going concern, provisions and valuations |
| Responsibility | The board approves the accounts and a director signs the balance sheet (Companies Act 2006, s414) |
| In StatutoryAccounts.io | AI suggestions you confirm; editable drafts; amounts from fixed calculation rules |
| Data | Stored in London (eu-west-2); AI through the commercial Anthropic API, which does not use API data for training by default |
| Status | Trial balance import, CT600 module and iXBRL output in preparation; accounts prepared for filing, not submitted |

As at 25 October 2026.

## Where AI helps

- Mapping the trial balance. Bookkeeping charts of accounts differ between Xero, QuickBooks, Sage, FreeAgent and spreadsheets. AI can read account names and codes and suggest the line item: trade debtors, other creditors, administrative expenses. A person confirms each suggestion.
- Drafting notes and reports. Accounting policies, the directors' report and, for medium-sized and large companies, the strategic report are mostly wording around facts. AI can draft them from the company's activity, the figures and last year's text, as editable drafts.
- Reading documents. Last year's accounts as a PDF can be read for the comparatives, which are then checked against the filed accounts.
- Spotting inconsistencies. A note that does not match the statements, a missing disclosure for the size class, or a balance in the wrong direction.

## Where AI should not decide

- Amounts. Totals, subtotals, tax, comparatives and the notes' figures should come from deterministic calculations that give the same answer every time, so the accounts reconcile and can be reviewed.
- Rules. The company size, the framework, the formats and the statements above the signature follow from the Companies Act and the standards, not from a language model's guess.
- Judgements. Going concern, provisions, impairment, valuations and events after the year end are decisions for the directors. AI can set out the facts; it cannot take the responsibility.
- Approval. The board approves the accounts and a director signs the balance sheet. No software can do either.

## How StatutoryAccounts.io uses AI

Status on 28 October 2026: the UK trial balance import, the CT600 module and iXBRL output are in preparation and not yet available. StatutoryAccounts.io prepares accounts and returns for filing: it does not submit them to Companies House or HMRC, and it is not yet HMRC-recognised Corporation Tax software or a Companies House software filer.

In StatutoryAccounts.io the AI suggests the line item for each nominal account and writes editable drafts of the notes, the directors' report and, where required, the strategic report. The figures come from fixed calculation rules, not from the language model. You confirm the mapping, edit the drafts and approve; every change and approval is recorded. Your data is stored in London (Supabase, eu-west-2), and the AI features send only the data they need to Anthropic's commercial API, which by default does not use API data to train its models.

## Checks before you approve AI-drafted accounts

1. Does the trial balance balance, and does it match the bookkeeping at the year end, after all year-end journals?
2. Is every nominal account mapped to the right line item, including the director's loan account, VAT and PAYE balances?
3. Do the comparatives agree with last year's filed accounts?
4. Does every note describe what the company actually does, rather than generic wording?
5. Are the going concern note, the size class and the statements above the signature right for this company and this year?

The [small company accounts example](https://www.statutoryaccounts.io/templates/small-company-accounts-example/) shows what a reconciled set looks like.

## Frequently asked questions

**Can AI prepare statutory accounts on its own?**
It can draft them, but not approve them. The directors are responsible for the accounts they approve and sign, so every AI suggestion needs review by a person.

**Does the AI calculate the figures?**
Not in StatutoryAccounts.io. The AI suggests the mapping and drafts the wording; the statements, notes and totals come from fixed calculation rules that give the same result every time.

**Is my data used to train AI models?**
The AI features use Anthropic's commercial API, which by default does not use API data to train its models. The application data is stored in London.

**Can AI decide whether my company is a going concern?**
No. Going concern is a judgement of the directors. AI can help draft the note once the directors have decided.

## Sources

- [Companies Act 2006, section 414](https://www.legislation.gov.uk/ukpga/2006/46/section/414)
- [Companies Act 2006, section 415](https://www.legislation.gov.uk/ukpga/2006/46/section/415)
- [Companies Act 2006, section 414A](https://www.legislation.gov.uk/ukpga/2006/46/section/414A)
- [FRC: FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland](https://www.frc.org.uk/library/standards-codes-policy/accounting-and-reporting/uk-accounting-standards/frs-102/)

## Related pages

- [Going concern note examples](https://www.statutoryaccounts.io/templates/going-concern-note-examples/)
- [Software and AI](https://www.statutoryaccounts.io/software/)
- [Statutory accounts software for UK companies](https://www.statutoryaccounts.io/software/statutory-accounts-software/)
- [Accounts production software for accountants and bookkeepers](https://www.statutoryaccounts.io/software/software-for-accountants/)
- [CT600 software for Company Tax Returns](https://www.statutoryaccounts.io/software/ct600-software/)
- [iXBRL accounts software](https://www.statutoryaccounts.io/software/ixbrl-accounts-software/)
- [Micro-entity accounts software](https://www.statutoryaccounts.io/software/micro-entity-accounts-software/)