Management account preparation
While statutory accounts are prepared just once a year, management accounts can
be produced every week, month and/or quarter to help you understand how your
business is performing. They can be a key part of decision making and strategic
planning, but only if they are done in a timely and efficient manner.
Key questions we can help you answer by preparing your management accounts
How much money have we made to date?
Who currently owes us money and is it overdue?
Are our sales up or down on last year?
These are the sorts of questions business owners are regularly asking themselves.
Having accurate answers is a vital for the success of your business.
Despite this, many small business owners lack the tools and the time to get answers
to these questions on a timely basis.
Multiplus Tax Solutions’ management accounts service helps small business owners
get the key answers they need to run their business. It also helps them free up time
to dedicate to improving the profitability of the business.
By using the latest cloud based accounting packages we can give you regular
reports to help you:
Compare sales figures to last month and last year
Know whether the business is making money
Know who owes you money and whether the debt is overdue
Know your gross profit, assess whether it is high enough and compare it to
Identify areas where you could reduce your costs
Understand what sales you have to make to break even each month
Understand which parts of your business make you the most money
Devise ways to improve your cash flow
Secure funding from the bank
Know how much you have invested in the business.