Business Finance Assistant
Giving you control of your finances so that you can focus on what matters.
Key features and benefits
Get started with Business Finance Assistant
BFA product marketing video transcript
This is Business Finance Assistant. What’s great is you can view everything in one place, including a view of your Lloyds Bank account and accounts with other banks.
Business Finance Assistant gives you total visibility into your business including incomings, outgoings and it even has a view to see if any profit has been made for the month, so you know precisely how your business is performing, what works and what needs some attention.
The recent activity summary provides an overview of all recent transactions that are automatically categorised. Business Finance Assistant removes the need to record expenses by hand and manual spreadsheets. Simply upload a PDF or photo which will be automatically recognised and saved.
It’s so simple to create invoices and quotes too. Invoices are fully customisable with helpful automated notifications when client invoices are overdue. Once paid, Business Finance Assistant will automatically reconcile the invoice and its payment saving you time to focus on what really matters.
The Cash flow forecast tool enables you to make decisions faster, allowing more time to devote to developing your business. Business Finance assistant allows you to anticipate the upcoming weeks - by using past transactions and upcoming suppliers and customer due dates thanks to its powerful Artificial Intelligence Engine and machine learning technology. What’s more, is the forecast is fully adjustable so you can make it more and more accurate and always know where you are going.
When it’s time to file your VAT return, most of the hard work is already done for you. The Business Finance Assistant calculates VAT owed and connects straight to HMRC which is Making Tax Digital compliant.
Another great feature is the ability to share access with others, including your accountant and what’s great is you control the access permissions!
Is my business eligible?
- All Lloyds Bank UK Business customers are eligible to register for the Business Finance Assistant.
- Public limited companies are not currently eligible for this service
What we’d need to know
- Your sort code and account number
- Please have your internet banking log on details to hand
Try our service for the first 3 months for free via our introductory offer. After this, we will introduce a service charge of £5 per month.
Please find Terms and Conditions here
The tool is currently aimed at businesses who trade within the UK; VAT functionality (e.g. reverse charge) for businesses who buy or sell internationally is not currently available in the tool but is being developed; therefore, businesses that buy or sell internationally should not use the tool.
Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service. Not all telephone banking services are available 24 hours, 7 days a week. Please speak to an adviser for more information.
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Telephone: 020 7626 1500. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.
We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.