Management Accounts

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Need to complete your management accounts? Traynor Accounting provides a management accounts service for small and medium sized businesses throughout Scotland and the UK.

Timely, accurate and understandable information is the key to successful decision making. At Traynor Accounting Cumbernauld and Glasgow we work with you to develop management accounts which provides you with the key information you need to run your business. We can incorporate our service with your existing bookkeepers and accountants, or we can provide an integrated service from bookkeeping to annual accounts and tax returns.

What are Management Accounts?

Management accounts are a set of financial reports made for business owners, either monthly or quarterly, which provide a comprehensible insight into the financial trading position of your company. Management accounts are similar to annual accounts however management accounts are less formal and are customised to the client’s requirements.

What is Included in Management Accounts?

Traynor Accounting management report packs are tailored to your needs and typically include:

  • A clear and concise summarised commentary, highlighting the key performance indicators during the month and year to date

  • Profit and loss reports

  • Balance sheet reports

  • Variance reporting of actual results versus budget

  • Cash flow and profit forecasts

  • Aged debtor and creditor analysis

  • Personal and corporation tax forecasts

Meetings can be arranged with clients monthly or quarterly to review the information provided.

Why are Management Accounts Important?

Unlike annual accounts, management accounts are not required by law, and they do not have to be filed with HMRC. So why do you need management accounts? Management accounts can result in you being more in control of your finances and hence support the growth of your company.

In order to grow your company successfully, you need to monitor your finances and assess your business’s performance during the course of the year. Management accounts provides you with this information and means you will have better information to enable you, for example, to grow your business, make more informed decisions based on up-to-date information, measure the performance of your business and individuals, gain control over your cash flow, and plan your tax and dividend payments.

To find out more about our Management Accounts Services call us on 01236 222668 or 0141 280 8941 for your free accountant consultation (no obligation!)