Many business owners rely on annual accounts to assess their performance, but by the time you get those figures, it’s too late to make proactive changes. Management accounts bridge that gap, offering you regular insights to stay in control of your finances and future.
What Are Management Accounts?
Management accounts are a set of financial reports prepared monthly or quarterly to help you track performance in real time. Unlike year-end accounts, which look at the past, management accounts help you plan ahead.
They typically include:
- Profit and loss statement: This shows your business’s income, expenses, and profitability.
- Balance sheet: Provides a snapshot of your assets, liabilities, and equity.
- Cash flow statement: Tracks money coming in and going out of your business, highlighting potential cash shortages.
- Key performance indicators (KPIs): Metrics that help assess how well the business is performing in areas like sales, costs, and profitability.
Why Do They Matter?
- Better Decision-Making – See your income, expenses, and cash flow at a glance, helping you make informed choices.
- Faster Growth – Identify opportunities and bottlenecks before they impact your business.
- Avoid Surprises – No more nasty tax bills or cash shortages catching you off guard.
- More Control – Get clear, easy-to-read reports that help you stay in charge of your business finances.
- Smarter Tax Planning – With up-to-date figures, you can plan for Corporation Tax, VAT, and personal tax liabilities in advance, avoiding last-minute panic and maximising allowances.
How We Can Help
At SBCA, we provide tailored management accounts that fit your business needs, giving you clarity, confidence, and control over your finances.
The aim is to give you more time, money, and headspace by keeping you informed about your business’s current position, ensuring you’re always in control, and maximising tax efficiency.
Want to know more? Let’s chat about how management accounts can help you call our team on 01772 204102 or email prosper@sbca.co.uk.