Accounting
The accounting service is flexible depending on your requirements, be it preparation of annual accounts for :
- Limited Companies; or
- Sole Traders; or
- Partnerships.
Or producing more regular accounts :
- Quarterly Management Accounts;
- Monthly Management Accounts.
Other services include
- VAT;
- Payroll;
- Self-Assessment;
- Bookkeeping.
The Management Accounting service
This is the preparation of management accounts (profit and loss statement and balance sheet) for your business on a regular monthly or quarterly basis depending on your requirements. Management Accounting is more than bookkeeping it is about transforming financial information into something useful. It is the monthly or quarterly profit and loss statements that help you manage your business better.
Regular management accounts showing a profit and loss statement compared to a budget or to prior year is one of the most useful tools a business can have.
The main advantages of having management accounts are:
- You have up-to-date financial information monthly or quarterly throughout the year.
- You know how much profit/loss you have made each month or quarter so you can budget better for tax.
- Queries are resolved when the information is fresh.
- You have a useful comparison of current spend against budget or prior year.
- Last minute deadlines are avoided.
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Contact Me on 01530 412658 to discuss your requirements
---------------------------------------------------------------------------------------------------------------------------Example
Below is an example of a simple set of management accounts, they provide useful financial information about the company in a format which is easy to understand.
Commentary: In the example below Company X is making significantly more sales in Sept 2006 than it did in September 2005. The year to date September 2006 sales have almost doubled compared to year to date September 2005 and the company has tripled it's net profit year to date September 2006 comapred to September 2005.
