Management accounts
Monitor performance
Your accounts are a really important part of running your business. You can choose to have accounts prepared at year end or produce quarterly, monthly, or interim accounts. The more regularly you produce your accounts, the more likely you’ll be to have a clearer picture about how your business is performing.
You’ll also get better warnings about any issues and challenges that may be on the horizon. And you can move quickly and with more confidence when your financial position presents opportunities.
We will produce your management accounts that can compare results with prior periods &/or against budget. We can also add even more useful information with key performance indicators, which focus on the major drivers of your business.
Benefits
Business owners often tell us that as their business grows they feel a little less in control. So we talk about systems and procedures and when it comes to financial control, management accounts are often the answer.
Quality assurance
When properly prepared, you’ll know that all key control accounts are reconciled – which means the figures in your accounts are reliable. And you’ll know what the key performance indicators are to monitor performance; and these can be as simple as your sales, your gross profit margin, average order size, number of sales per month and so on.
What we can do?
We can help you identify what the important numbers and ratios are, we can review the work of your in-house finance team or we can produce the management accounts for you.
How much is it?
Tell us what you want and we can agree a fixed fee.
FAQs
How often should management accounts be prepared? The advantage of monthly figures is that you can react quickly to danger signs.
I’m not used to reading accounts, how will I know what to look out for? Well, we can talk you through them and can provide written summaries highlighting key findings in plain English.
Will they show me what my tax liabilities are? Yes.
I have my own finance team, so why would I need you? We can provide an objective expert view, perhaps taking the role of a finance director.
Key points
Monthly or quarterly
Compared to budget &/or prior year
Fixed fee