Accounts Department
Management Accounts
All businesses need good management accounts to measure and improve performance. So ask yourself: "What financial information do I need to run my business and improve profits?"
- How much income is recurring?
- Which products or services really underpin our profits?
- What are my fixed and variable costs?
- Based on recent patterns what is the forecast for next month and the rest of the year?
- Can I afford a new member of staff?
- Can we manage within our overdraft?
- How much money is owed to us?
We will help you generate outputs that are a helpful tool in your decision making rather than a document that provides meaningless numbers.
Typically, when we have designed and developed management accounts with our clients they include:
- profit for the month and year to date comparing actual results vs. budget and last year
- revenue by customer and by product/service to see where the profit is really coming from
- profit margin analysis for best-sellers or by product/service/customer
- expected outcome for the year and action plans for areas of risk or potential improvement
- cash flow performance and forecast cash flows compared against borrowing limits with action plans for improvement
- aged debtors and an action plan to collect large, aged debtors
Our management accounts service can either integrate with your existing finance team or, if you want to outsource everything, we can do the bookkeeping and other accounting tasks for you as well.
Armed with better management information you can make better decisions and make more money!
Accounts Department
-
Michael attends our monthly management accounts' meeting and provides us with constructive challenge about our performance and improvement opportunities; his perspective is incredibly helpful.
