Management Accounts
To assess a company's performance over a certain period, you need a set of financial and non-financial reports, known as management accounts. It usually includes a profit and loss account, balance sheet, cash flow statement and analysis or commentary.
These reports assess the cash flow of a business. As the business grows, the reports may be presented to the senior management during board meetings, financial institutions when applying for loans, and investors seeking funding.
FAQs
A standard monthly or quarterly pack includes a tailored profit and loss (P&L) statement. We also include balance sheets, cash flow forecasts and KPI tracking in our prepared management accounts if required. Clear narrative commentary is always provided to explain performance against budget forecast and highlight commercial opportunities.
Outbooks has 15+ years of experience serving SMEs across every industry, allowing us to prepare sector specific KPIs for your business. Our management accounts highlight emerging risks and opportunities and explain variances in detail.
Yes, we provide a baseline Standard Operating Procedure (SOP) that can be adjusted to your business requirements. If you already have an existing SOP in place, we work within it to maintain continuity.
We are experienced in using most major accounting software, including Xero, QuickBooks and Sage, ensuring we can easily integrate into your existing software environment . We can also utilise specialised reporting add-ons like Syft and Fathom to extract data and prepare detailed financial analytics.
We deliver the finalised reports within 10 days of receiving all the required bookkeeping data and information from your team.
Our team aims to acknowledge all client communications within two hours of receipt. Straightforward questions are resolved immediately while complex queries are given a precise timeline, ensuring you are always kept informed.
Yes, the service scope is adjustable at any point. If you need to incorporate cash flow forecasting or track new KPIs in your management accounts, let us know. We will update the reporting structure and provide a revised delivery timeline to accommodate the new requirements.
This depends on the engagement model you select. If you choose our Full-Time Equivalent (FTE) model, we assign a dedicated professional to work exclusively on your management accounts. You can read more about our engagement models in detail.
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KPIs & crisp real-time reports to help clients gain an edge over the competition, charting a path to steady growth & expansion across domains.