While you only need to file your accounts with Companies House once a year, it is useful for a business owner to see their financial records more often than that. For some businesses, that’s biannually, quarterly or even monthly. These are known as management accounts, and help you get a better look at how your business is performing in the short term.
Management information plays a pivotal role in successfully managing your business and moving it forward. In order to run a successful business, you need to be able to monitor and control the financial performance of your business. Our aim is to not only prepare an accurate set of management accounts, but to show you how to effectively use the information within to increase profitability and boost the value of your business.
Our management accounts services help you keep your finger on the pulse of your business. By monitoring and promptly assessing the impact of the changes you introduce, you can connect the dots and stay on track in various important business scenarios. We work with you to produce tailored management accounts that provide you with all the information you need to make those critical decisions and drive your business forward. That could include:
- Monthly profit-and-loss with balance sheet
- Gross margin – split any way that is valuable
- Graphs and charts or numbers or both
- Budgets reporting with variances
- Comparison with previous years reporting
- Draft year end accounts for your accountants
- Year end opening-balance adjustments
And much more. It all depends on the scale and volume of information you need, when you need it. Our experts work with you to understand your business needs and create a bespoke management accounts solution that gives you what you need, when you need it, with no hassle. Whether it’s on Excel or cloud based software, we can help you set up and maintain accounting procedures.
To find out more about our tailored management accounts services, please just get in touch with our team and book your free, no obligation consultation.