Monthly Management Accounts Fareham
There is a huge difference between management accounts and statutory accounts. Statutory accounts are the accounts that have to be submitted to Companies in a prescribed, legal format.
Management accounts are in any format you choose, designed to help you run your business on a day to business.
A service we particularly enjoy providing our clients is monthly management reports. These are solely for your benefit as a business owner. It is much easier to make important business decisions when there is a lot of information at your disposal rather than just using yearly accounts.
Is your business not doing so well in the autumn or nearer Christmas? How about the reason behind going over a budget? Our monthly management accounts can assist you in finding this information and improving the efficiency of your operations so you can act fast on a problem, rather than later down the line when it may be too late.
Now more than ever it is important for a business to know what money is coming in and going out, and when it’s going to happen.
Most companies that go out of business do so for lack of cash flow rather than lack of profits.
We can help you plan when you are going to have cash surpluses and deficits, and help you with the actions you need to take to minimise the impact on your business. That may be as simple as asking the bank for an overdraft or maybe seeking finance.
Having useful budgets and forecast will make this a whole lot easier.
As well as specialising in monthly management accounts in Fareham, Xebra also cover Winchester, Southampton and Portsmouth.