Management Accounts

If you’re running a growing business, waiting until the year end to find out whether you’re making money isn’t enough. You need regular, meaningful financial information that helps you make decisions with confidence.
Our management accounts service gives you a clear picture of your business performance throughout the year, helping you understand your numbers, spot problems early and identify opportunities to improve your profitability.

Turn your numbers into useful information

Your bookkeeping system contains a huge amount of information, but raw figures don’t always tell you what you need to know.

We can turn that information into clear management reports that help you answer questions such as:

• Are we making enough profit?
• Which areas of the business are performing well?
• Where are our costs increasing?
• Are our margins improving or getting worse?
• Are we on track to meet our targets?
• Can we afford to take on another employee?
• Is there enough cash in the business?
• Are customers taking too long to pay?
• Can we afford to invest in new equipment?
• What needs our attention right now?

Instead of simply looking at a set of figures, we’ll help you understand what those figures are telling you.

Regular reporting, not just year-end figures

Management accounts can be produced monthly, quarterly or at another frequency that makes sense for your business.

For many businesses, monthly management accounts provide the best level of visibility. They give you the opportunity to identify trends and deal with issues before they become bigger problems.

For smaller businesses, quarterly management accounts can provide a useful balance between having regular information and keeping costs proportionate.

We’ll help you decide what works best for your business.

What can your management accounts include?

Your reports can be tailored to your business rather than simply giving you a standard set of figures.

Depending on what you need, your management accounts could include:

Profit and Loss

See how much your business has earned, what you’ve spent and, most importantly, how much profit you’re actually making.

Balance Sheet

Understand the financial position of your business, including what it owns, what it owes and the level of funds tied up in the business.

Cash Flow

Profit doesn’t always mean cash in the bank. Cash flow information helps you understand what money is coming in, what is going out and whether there could be pressure on your cash position.

Budget vs Actual

Compare your actual results with your budget or targets so you can quickly see where you’re ahead or behind expectations.

Key Performance Indicators

We can help identify the numbers that really matter to your business, whether that’s gross margin, sales, average transaction value, debtor days, labour costs or another measure that’s important to you.

Year-on-Year Comparisons

See how your business is performing compared with previous periods and identify trends that might otherwise be missed.

It’s not just about producing a report

We don’t believe management accounts should be a report that gets emailed to you and then forgotten about.

The real value comes from understanding what the figures are telling you and deciding what to do next.

That’s where we can help.

We can talk through your results with you, explain anything that needs clarification and highlight areas that we think deserve your attention.

If costs are increasing, we’ll help you identify where. If your margins are falling, we’ll look at why. If sales are growing but profit isn’t, we’ll help you understand what’s happening.

Our aim is to give you the information you need to make better business decisions.

Helping you improve profitability

Good management accounts can be particularly valuable when you’re looking to improve your bottom line.

Rather than simply telling you that your profit has fallen, we can help you investigate the reasons behind it.

That might mean looking at:

• Rising supplier costs
• Gross profit margins
• Staffing and payroll costs
• Overheads
• Pricing
• Sales performance
• Customer profitability
• Debtor collection
• Cash flow
• Unnecessary or duplicated expenditure

Small changes in the right areas can make a significant difference to your overall profitability.

Cloud accounting makes it easier

Because we work with cloud accounting systems such as Xero, QuickBooks and FreeAgent, your financial information can be kept up to date throughout the year.

This means your management accounts don’t have to be a complicated year-end exercise.

With accurate bookkeeping and regular reconciliation, we can produce useful financial information when you need it, giving you much greater visibility over your business.

Management accounts that work for your business

Every business is different, so there isn’t a one-size-fits-all approach.

A small owner-managed business may simply need a regular Profit & Loss and a conversation about the results.

A larger or growing business may benefit from detailed departmental reporting, budgets, forecasts, cash flow information and specific KPIs.

We’ll work with you to establish what information will actually help you run your business, rather than producing reports simply because we can.

Why choose Accountancy Solutions?

Your numbers should help you make better decisions

You shouldn’t have to wait until your year-end accounts to find out how your business is performing.

With regular management accounts, you’ll have a clearer picture of what’s happening in your business, where you’re making money, where costs are creeping up and what needs your attention.

Let’s turn your numbers into useful business information.

If you’re ready to stop simply looking at your accounts and start using them to make better decisions, we’d love to talk to you.

Ready to understand your numbers?

Get in touch today to discuss how management accounts could help your business.

Let’s talk about your numbers →

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Find out more about our bookkeeping service →

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Your annual accounts aren’t just a compliance exercise. We can prepare your accounts, explain the figures and make sure you understand what they mean for your business.

Find out more about annual accounts →

Virtual Finance Office

Need more than bookkeeping? Our Virtual Finance Office service gives you access to the financial support and insight you need without the cost of employing a full-time finance team.

Find out more about our Virtual Finance Office → PAGE COMING SOON!

Let’s make your numbers work harder

Whether you need monthly management accounts, help understanding your profitability or more comprehensive financial support, we’re here to help.

Book a chat with Accountancy Solutions today and let’s look at what your business needs.

Get in touch →