They'll help you to spot issues and take action much earlier than relying on Annual Accounts. They can be used alongside a forecast or budget to tell you how you're performing against plan. And they can help you answer the key questions that any successful business owner should know:
“How much profit did we make last month?” And “Can we afford it?”
That's why we'll put together monthly reporting packs which contain the financial and statistic information you need after each month end. They’ll allow you to make quick decisions which will maintain and improve the long term health of your business.
Your sales and profit margins have fallen? Launch a relevant sales campaign or your new product line. Overheads lower than expected? Feel confident to build your 'rainy day' cash reserves.
In short, a monthly management accounts pack will include:
- A key points summary - so you can quickly see what matters most
- A profit and loss account – to show you how profitable you are
- A balance sheet – to show you the underlying health of the business
- Aged debtors and creditors reports – to show which clients owe you money, and which suppliers you owe money to
- Cashflow forecast which includes a projection of your corporation tax, VAT and PAYE liabilities