Producing accounts more frequently than annually means that financial challenges and problems are spotted and corrected quickly. They also mean that you as the business owner know your financial position more regularly which should lead to a better result for the year.
These accounts are also known as management accounts.
We report your numbers in a meaningful way, and give insights as to what the numbers are saying, providing ideas and solutions to move your business forward.
Quarterly accounts tie in with your VAT returns (if registered), and looking ahead, HMRC will start requiring quarterly reporting (rather than annual reporting) from April 2019. With quarterly accounts you will be compliant when the changes affect you.
Monthly accounts provide even more financial information, keeping you constantly informed about your financial position.
Technology means that ‘real time accounting’ is possible, with monthly accounts prepared just days after each month end.
When combined with our premium bookkeeping service we will keep your financial information up to date weekly.
Accounts can often appear like a long list of numbers. But what do they mean? Where do you start?
Within your numbers there are typically just 2 or 3 numbers that are absolutely critical to your business. Over time they may change, as your business evolves, improves or falls behind in other areas. We help you find those key numbers so that you can manage your business with just a few really important performance measures.
We will watch them too, and be on the telephone if we think something is going astray!
Strategic Planner, Xero.
Guy Robinson is the founder and Managing Director of Xebra Accounting, specialising in strategic planning for small to medium sized businesses.
023 8000 1313