Services | Management Accounts

Expert management accounts for better financial insight

We simplify the complexities of managing your business’s finances by providing detailed management accounts. These essential reports offer valuable insights into your company’s financial health to help you make informed decisions and track your business’s performance.

Get clear financial insights today!

We can help with:

Cash summary

Receive accurate summaries of your cash flow position to keep track of your financial liquidity.

Profit & loss report

Gain clear insights into your profitability with our detailed profit and loss reports.

Balance sheet

We prepare your balance sheet to provide a snapshot of your company’s financial position.

Aged receivables

Identify outstanding invoices and track payments due to your business with our aged receivables report.

Aged payables

Manage your debts more effectively with our aged payables report, which clarifies amounts owed and helps streamline payments.

Accounting software

As partners with QuickBooks, Sage, Xero, and Dext, we use the latest accounting software to deliver accurate and efficient management accounts.

How our management accounts process works

We follow a structured process to ensure your management accounts are accurate, insightful, and useful for decision-making. Here’s how it works:

Data collection & organisation

We gather financial data from your accounting software, bank statements, invoices, and other relevant records to ensure a complete and accurate financial picture.

Transaction review & reconciliation

Our team reviews all transactions to ensure they are correctly recorded and reconciled against bank accounts and financial statements.

Financial reporting & analysis

We prepare key reports, including profit & loss statements, balance sheets, cash flow summaries, and aged receivables/payables to give you a clear overview of your financial position.

Customised insights & KPI tracking

We customise reports based on your business needs to track key performance indicators (KPIs) and providing in-depth financial insights.

Review & advisory support

We go beyond the numbers by explaining what your financial reports mean, highlighting trends, and offering strategic advice to help you make informed decisions.

Ongoing monitoring & adjustments

Management accounts aren’t just a one-time service. We provide regular updates, monthly or quarterly, to keep you informed and help you stay on top of your business finances.

Why choose NJM Accountancy Ltd. for management accounts

Informed decisions

Regular updates and detailed reports enable you to make well-informed financial decisions and plan for the future.

Personalised insights

We extract and adjust key information from your financial records to create reports that address your specific business needs.

Dedicated support

We work closely with you and offer professional advice and support to help you achieve your business and financial goals.

Quality service

Our commitment to high-quality service ensures that you receive the most accurate and useful financial insights.

FAQs on management accounts

What are management accounts?

Management accounts are regular financial reports that provide insights into your business’s financial performance. They help with decision-making, cash flow management, and identifying trends.

How often should I get management accounts?

Most businesses receive management accounts monthly or quarterly, depending on their needs. Regular updates help you stay informed and make timely financial decisions.

What’s the difference between management accounts and year-end accounts?

Management accounts provide real-time insights throughout the year, while year-end accounts are a legal requirement for tax and compliance purposes. Management accounts help with ongoing business decisions, whereas year-end accounts summarise your annual financial position.

What reports are included in management accounts?

We typically provide profit & loss reports, balance sheets, cash flow summaries, aged receivables and payables, and key performance indicators (KPIs). These can be customised to your business needs.

Do I need management accounts if I already have bookkeeping?

Yes. While bookkeeping records transactions, management accounts analyse the data, that gives you a clearer picture of profitability, cash flow, and financial health.

Can management accounts help with business growth?

Absolutely. Tracking financial trends, monitoring costs, and identifying opportunities for improvement, the management accounts support strategic planning and business expansion.

How do you prepare management accounts?

We collect financial data from your accounting software and records, reconcile transactions, generate reports, and provide advisory insights to help you understand the numbers.

Can you integrate management accounts with my existing accounting software?

Yes. We work with QuickBooks, Xero, Sage, and other accounting platforms to ensure smooth integration and accurate reporting.

Will management accounts help with cash flow management?

Yes. They provide cash flow summaries to help you plan for upcoming expenses, manage working capital, and avoid financial shortfalls.

Simplify your financial management

Simplify your financial management with NJM Accountancy Ltd., serving Bangor, Belfast, and Northern Ireland to help you achieve your financial goals.