Management accounting Services
Up to date and current financial information is crucial to the smooth running of your business. We offer monthly or quarterly management accounting services to businesses where it is impracticable to generate these reports in-house. Lee & Co help our clients boost profitability by providing an integrated bookkeeping with management account service. A lot companies offer either book-keeping or management accounts, but here we offer both. We guarantee that all of your management accounts have been thoroughly checked and issued by a qualified accountant. Our quality management of information separates us from others, ensuring we deliver reliable data and professional insight.
We can also assist you to get the best from your existing in-house accounting solutions to aid management reporting.
What are management accounts?
While there are no legal requirements to prepare management accounts, running an effective business without one is difficult. They are useful for analysing recent historical performance, usually including forward looking elements such as cash flow, sales and profit forecast. They provide accurate information to identify key performing areas of the business, whilst also having other uses including;
- helping to shape the business with sound guidance and advice
- developing an understanding of the behaviour and performance of the business
- revealing margins, break even points and costs to assist financial decisions
- allow a cash flow forecast
- helping to uncover under performing areas of the business
We can demonstrate effective use of our management accounts services to boost profitability and the value of the business
Your management accounting services are displayed and a report will containing the following:
- Monthly profit-and-loss with balance sheet
- Gross margin – split any way that is valuables
- Graphs and charts or numbers or both
- Budgets reporting with variances
- Comparison with previous years reporting
- Draft year-end accounts for your accountants
- Year end opening-balance adjustments
- Avoid employee recruitment and retention challenges
- Benefit from a consistent and quality bookkeeping procedure
Do you wish to know more about our management accounts service, or would like to arrange a free initial meeting in order to discuss how we can help you in more detail, please contact us.