Regular management accounts are an insightful tool that can help to steer your business in the right direction. By giving you a detailed overview of your trading activities and an up to date view of your financial position, management accounts can be used to identify strengths and weaknesses in company processes which can aid future decision making and planning growth, diversification or expansion.
Management accounts typically include a profit and loss account, balance sheet, cash flow statement and a detailed report. We can also create a bespoke service for you if you would like additional information. We can produce management accounts on a quarterly or monthly basis and certain reports such as aged debtors and creditors can be provided more frequently. We can help you to create a budget which can be used to measure your performance over the period of the management accounts.
Management Accounts can reduce your overall accounts bill for the end of the year as most of the work has already been done. At TotalBooks, we work closely with your accountant to ensure a smooth handover of work completed whether that's us or someone else!