Our cloud package includes monthly management accounts; this gets rid of the burden of data entry into cumbersome accountancy software and enables you to see how your business is doing. By allowing you to obtain a current and timely monthly financial report which will show you the position and the financial health of your business. As a business owner you need this data for no longer than a month for you to take quick and corrective action in case things are not going as well as expected.
Monthly management accounts will be made up of profit and loss accounts for the current month and year to date figures, a breakdown of all expenses and a balance sheet. This allows you to see how your business is performing to date and make any necessary changes as soon as possible, it also allows you to see what profit is taxable.
This is especially useful for limited companies when there are dividends involved as it assists the director’s proposal to pay an interim dividend to the company’s shareholders.