Do you know how you business is performing today?
Are you close enough to the numbers in your business to help you make timely decisions ?
"thank you for your review of my accounts. It has saved me over £5,000 in costs so a worthwhile investment!"
Management accounts will enable you to:
Your forecast is likely to be your informed estimate, your budget, your planned outcome, but your management accounts show the actual performance and viability of your business.
By the time you receive your annual accounts back from your accountant, then the information may be out of date and irrelevant to what is happening right now. Accurate, up to date, information enables you to make informed decisions to improve your business and impact on your bottom line now.
At A1 we have seen the difference Management accounts can make to a business to many of our clients.
It all starts with accurate financial information, which our team of bookkeepers can help deliver for you, then we support you to design the appropriate information reports to suit your business and therefore provide you with the management information that can help you analyse your financial information with confidence, make informed decisions and improve your financial performance.
We are also finding that bank managers are seeking the current financial information on a more regular basis and, as ex-bank managers; we have a good idea of what information they will need!
Management accounts tend to be completed on a monthly or quarterly basis, however this is not a rigid timescale and can even be produced as a one off requirement.
Our management accounts service links in with the effective financial controls that we consider are important in the management of any business financials.