More useful information between year ends
Annual accounts look back over a completed period. Regular management accounts help you follow what is happening during the year, identify questions earlier and plan the next steps.
We agree the reporting period and the information that will be useful to you. For some businesses, that is a monthly accounts pack. For others, a quarterly review and cash flow forecast are more appropriate.
What the service can include
- Profit and loss reporting, with comparisons where reliable information is available.
- Balance sheet review and key reconciliations.
- An explanation of material changes and items needing attention.
- Cash flow forecasts based on agreed assumptions and known commitments.
- Information about unpaid invoices, supplier balances and forthcoming tax payments.
- A discussion of the results and practical actions.
Reporting supported by reliable records
The quality of a report depends on the records behind it. We establish which bookkeeping and reconciliation work is required, who supplies missing information and how stock, payroll and other adjustments will be dealt with.
Where we already prepare your VAT returns or annual accounts, we can discuss how the records can support regular reporting without duplicating work. Extra preparation and review time is reflected in the agreed fee.
Services and fees
Tell us how many businesses are involved, which software you use, how current the records are and what you want to understand. We can then discuss a one-off review or an ongoing reporting service.
Common questions
Do I need another accounting system?
Not necessarily. We review the systems and records already in place before recommending changes.
Will the reports replace annual accounts or tax returns?
No. Management reporting supports running the business. Statutory accounts and tax obligations are separate work, although well-kept records can support both.
How should a cash flow forecast be used?
A forecast reflects the information and assumptions available when it is prepared. We set out the key assumptions so you can assess the figures and review them as circumstances change.