Twenty years ago regular monthly or quarterly management accounts would have been the preserve of large businesses with multi-million pound turnovers, which could afford to employ a full-time accountant or finance director. Now any business using accounting software can have access to management accounts.
It can be useful to have an independent and experienced accountant to produce the management accounts. We can do this for you and as well as producing the accounts we can provide you with an objective commentary on the key performance indicators: sales, gross profit, gross profit percentage and tracking of overheads.
Besides the usual reports for Profit and Loss and Balance Sheet, we can also set up your management accounts to produce reports that monitor seasonal trends in sales and provide comparisons with prior year or budget figures. These help with forecasting cash flow and profit and control of costs. Your bank manager will also be happy and may even be impressed!