Your accounts contain a wealth of information, but many business owners lack the time and expertise to analyse those numbers and make sense of them all. Often they will be unsure and not know where to start to use them to build a solid plan for future growth.
This is where we can help by acting as a management accountant. This means that on top of looking after your day-to-day bookkeeping and accountancy and tax compliance we combine financial statements and non-financial data about your business to spot trends, gather statistics, and help your company make strategic decisions.
We work with you to piece together the jigsaw, educate you on what all the numbers mean and how to use it all to drive plans for success, expansion and increased profitability.
These accounts are not so formal in layout as the year end accounts however; we do go into the same level of work to produce them to ensure their accuracy. The information is often laid out differently and in more detail than year end however; it will still comprise of:
- A profit and loss account (showing trading performance)
- A balance sheet (showing the assets and liabilities position
- Performance indicators and if requested a;
- Cashflow statement
Management information can give a clear view of the financial health of your business at a particular cut-off point of your choosing. They can be produced:
- Six, nine and/or 10 monthly
It doesn’t matter how often this is, as long as you are getting a handle on the financial position of your business. Looking at your numbers regularly, not just once or twice a year, enables you to spot any potential cashflow problems, late payers or expenses and take swift action to nip any problems in the bud.
- Give you real time performance results
- Can show KPI’s of a business
- Can give details of cash flows of a business
“Sence Accounting came highly recommended to us and have proved why they have such a good reputation. Anna and the team have always been very helpful and guided us through anything we were not sure of. Amy comes to our office to carry out bookkeeping duties and is always professional and fits in well with our team. I would recommend Sence every time.”Mr KMCNovember 2019
“My business has changed considerably since joining Sence, during this period they have guided and supported us throughout this growth, critically advising us as our needs have changed. From tax planning, variance analysis and external payroll services there is a wealth of advice and support that we have used and will continue to draw upon.Mr XAugust 2019
We can't fault the professionalism and personal touch that Sence provides a business like ours and can highly recommend them to any business no matter how big or small they are.”
"One of the biggest positives for me about working with Sence is that I can trust them to do what’s right for me. I’m only a small business but they have my best interests at heart, nothing is too much trouble & there are no silly questions. I know that my accounts & self-assessment tax return will be filed in plenty of time. It is very clear that Anna & her team have a passion for helping businesses all shapes & sizes.”Mrs LSMay 2020