Management Accounts Services

Measuring your business performance regularly is vital. Management accounts provide valuable information about your operations, so you can make informed decisions on the future of your business. They are also the foundation of your business forecasts and financial projections, allowing you to monitor and plan your working capital and cash requirements.

Financial institutions such as banks often require timely and accurate accounting information in the form of monthly or quarterly management accounts. We can prepare regular management accounts, financial projections, and attend finance meetings with you to report on the accounts, and provide key strategic advice to help you grow your business. 

If a car only has an annual MOT check, there are all sorts of issues that could crop up in the meantime, including faults that affect performance and waste money or others that could compromise safety. Your Statutory Reporting is similar.

You have to submit your Annual Accounts and Company Tax Return each year, but if that’s the only time you’re aware of your figures, you could be missing warning signs or opportunities. In addition, your statutory obligations only provide the information HMRC wants, which is not necessarily what you need to know.

With our Management Accounts service, you choose the criteria and KPI you want us to target and analyse. You can also set their frequency to match your needs, for example, fortnightly, monthly or quarterly. And you can stipulate how you want the reports to present the information, so it makes the most sense to you.

With regular management accounts, you’ll have a clearer idea of where you stand and can plan accordingly.

You’ll see if your sales have plateaued, suggesting it’s time to invest in a marketing push. You’ll know if you can afford to hire new personnel to enhance your client offering and stimulate growth, or whether you can invest in developing a product or service to increase its appeal. And you’ll have a clear indication of what you need to put aside for Corporation Tax and VAT.

Finally, keeping regular management accounts is a sign of a well-run business. They will reassure investors when you’re looking for financing and the information they’ll want to know will be ready to hand.