Apart from recording the numerous transactions which many businesses have, it is essential that a business owner/manager receives regular management accounts.
This will enable the business owner/manager to review the financial performance of the business regularly through the year, so that any corrective action can be taken. It’s vital to know who owes you money and who you owe money to and our cloud based accounts put the financial information you need to run your business at your fingertips. We are always happy to sit down with our clients to either produce these reports for you, or to review them with you and provide further in-depth analysis to help you understand the figures better.
Leaving reviewing your accounts until the end of the financial year when you produced your Annual Accounts and review these with your accountant, is often too late to enable you to take the corrective action when it is really needed.