Through getting under the skin of your business, through planning and through direction, we come full circle to helping you drive the business forward.
For new and established companies alike, we work closely with you to formulate your business plans. Through our research into all aspects of your business, we can devise ways of growing on its strengths and work to overcome any weaknesses. Importantly, your business plan will give a strategic focus on the future direction of your business’ finances and operations and allow us to together keep its performance on track.
We’ll help you plan and forecast revenue and outgoings across different areas of the business, to give you an up to date and informed insight on which to base business decisions. Then, we can look back and compare the reality of spending against the forecast, providing us with the knowledge to help plan future steps.
Just as you would expect of an inhouse management accountant, we provide monthly and quarterly management accounts. These reports give you an up to date view on your finances, business performance and budgets. We’ll give you a comparative view against the position we aim for as well as previous years’ performance. Knowledge is power, and you’ll wonder how you ever did business without management accounts!
Understanding how your business is performing is essential. Through close involvement with your day to day operation, we will identify and design monthly performance indicators, in a bespoke way to fit with your business. These will give you a measure on your most important objectives, for the business as a whole as well as for specific projects. This important information allows you to share knowledge with staff (a great motivational tool to help hit targets and reward good performance) and helps ensure you’re on track with the strategies we’ve laid out together in your business plan.
Our expertise lies in bringing all the information about your business together, taking time to fully understanding your pricing structure, your outgoings and your overheads before recommending ways in which you may be able to cut costs without damaging the service you provide to your customers. With our well thought out strategic planning, our major focus is helping you improve profits.
Ensuring you have good cash flow is hugely important in any business. The lack of it can, unfortunately, be the demise of so many otherwise great businesses. We’ll help you to manage things to maintain a nice fluid bank balance, which includes our guidance on getting your customers to pay promptly and good timely planning of your outgoings.
As accountants, we of course also handle the work needed to comply with HMRC, including your year end accounts, tax returns and payroll. This is the role you’d expect a traditional accountant to play, but with My Management Accountant you have the added benefit of help on your budgeting for tax and a close eye kept on ensuring you don’t more tax than you need to. And not a stuffy accountant in sight!
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