Trying to run a business and make accurate day to day decisions off the back of your annual accounts is virtually impossible. It’s like trying to drive a car to a place you’ve never been to before by looking in the rear view mirror whilst listening to a sat nav that only tells you where you’ve just come from!
Large organisations never go more than 30 days without drawing up a set of interim accounts.
However, unless their lender or investors required them to, most small business owners don’t bother. But they should.
Having monthly management accounts will give you much better control over your business and will enable you to become more profitable by ensuring that you have the information you need to be able to make quicker, more accurate decisions.
We can help draw up management accounts for your business and have them on your desk within days of a month end.
Having the information in these management accounts at your finger tips will enable you to:
- React quickly to the effects that changes in sales revenue or costs have on your break even
- Use key performance indicators to identify problems early and take action to rectify them and protect your profitability
- Enforce accountability by being able to observe results against budgets in every area of your business
- See the effects of your decision making on your business results
Management accounts are invaluable to a business owner who wishes to grow their business and maximize their profitability. We can produce your management accounts and show you how to get the most out of them. If you’d like to find out more about having management accounts prepared for your business give us a call on 020 3667 5200.