Newquay Accountants Empowering Your Business
Once the bookkeeping is up to date and accurate, we can then look to provide you with a set of management accounts, which is more than just a Profit & Loss Account. With regular management accounts reporting, you can make quicker and more informed business decisions..
We think that management accounts are not viewed as significantly as they should be, a profit and loss report shows you the income less the expenditure for that period. We look at all of the business financials and with your help will suggest Key Performance Indicators (KPIs) to look at regularly that provide a more in-depth insight into your business. KPIs can be looking at the Gross Profit Margin % or Wages to Income %.
Our Management Accounts pack contains:
- Profit and Loss Reports – depending on the situation but these will typically be a comparative to the previous year and/or against budget if you have one
- Balance Sheet – again with a comparative to the previous year
- Aged Debtors
- Aged Creditors
- Monthly Profit and Loss report for the year to date
- KPI monitoring narrative
Bookkeeping & VAT Returns
Empowering Your Business
With up to date and accurate financial information, you can make those business decisions quickly and know that it is based on the most up to date information. It will also allow you to spot any concerns earlier in the year and act on them, i.e. realising your gross profit margin has reduced in the last six months, find out the reason and then act on it.
With the current economic situation, we have found having management information is now more important than ever. Banks and lenders will want to see this reporting as part of and funding application, so if you have it ready to go, then there is less cost in the long run.