Do you currently just see your accountant once a year? Do you sit in the meeting thinking, if only I had known about it 12 months ago then I could have done something about it?
Well with monthly or quarterly management reports this could be a thing of the past.
How does it work?
We will meet up and set some initial targets, then each month or quarter we will produce some management accounts that access your performance and highlight any variances.
Surely this means more cost?
Yes at first glance, meeting your accountant on a more regular basis would indicate a higher cost. But we believe that this cost is offset by the improvements this service makes to your business.
And if we are seeing you on a regular basis we will gain more knowledge about your business and so this means that it does not cost as much as you would think.
How will the management accounts be laid out?
We will produce the reports in any format to suit you. Some people prefer detailed pages of numbers and others prefer a key point summary. Over time together we will develop a format that you understand and gives you the information you need to see.
Year End Accounts
With the system of producing management accounts, the year end accounts are automatically produced. So you will get to your year end and you will already know your tax liability, this will help you plan your cashflow and avoid a big shock if your tax is higher than you expected.
For this type of work we prefer to work on a fixed fee basis, payable monthly by standing order, however we are willing to fit into any arrangement which suits you and your business.
Contact us for more information