Your accounts are an 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 indications about any problems and challenges that may be on the horizon. With this service, you can move quickly and with more confidence when your financial position presents opportunities.
We will produce your management accounts that will 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.
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.
What value will I get from them?
This is our most popular service and offers a good return on investment. For some clients we also do their vat returns so, they know that their bills are calculated properly. If they get investigated, they have nothing to hide.
It changes the way you do business, you get unbelievable visibility into the company and regular reminder of what is currently going on in the business. 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.
Please complete the contact us form below and tell us which services are of interest. We are happy to agree a fixed fee for the required services. We can also offer you interest-free monthly installments.
How often should management accounts be prepared? Monthly reports are good as it allows you to quickly react to changes and get a better understanding of your business. Most expenses are incurred on a monthly basis and therefore, we recommend monthly accounting. However, if you are looking for a cheaper solution then quarterly reports are also a good alternative.
I’m not used to reading accounts, how will I know what to look out for? Well, it is a common question we get asked and the answer is to spend time in understanding these numbers. It does become easier and you will feel in complete control of your business. It is probably the best thing you can do for your business. We can talk you through them and can provide written summaries highlighting key findings in plain English.
Will they help me in tax? Yes. That’s the whole point, it enables you to plan and see what’s going on in the business. It reduces surprises and gives you a much better return on investment.
I have my own finance team, so why would I need you? Not a problem, remember there is more to accounts than just preparing them. Accounts need to be meaningful which is unfortunately not the case for small to medium sized businesses where they cannot afford to hire a Finance Director. We offer really cost-effective retainers so you get the best value for a fraction of the market price.