Monthly management accounts for clearer business decisions
A bank balance tells you how much cash is available at a moment in time. It does not explain whether your margins are changing, costs are rising or customers are taking longer to pay. Management accounts bring relevant financial information together so you can review the business more systematically.
Discuss your requirementsExplore feesEPOS Accountancy provides management accounts support for UK small businesses, with the reporting content, frequency and review arrangements agreed in advance. Monthly management accounts can be useful when you need a regular view of trading rather than waiting for a year-end picture.
What an agreed reporting pack can contain
A useful report might show how performance compares with last month, whether overheads are moving as expected, or why profit and cash differ.
| Report component | What it helps you review | Scope detail to confirm |
|---|---|---|
| Profit and loss | Sales, costs and reported profit | Period, categories and comparisons |
| Balance sheet | Assets, liabilities and business balances | Agreed checks and adjustments |
| Customer and supplier balances | Recorded amounts due in and out | Ageing dates and unresolved items |
| Budget comparison | Differences between actual results and plan | Approved budget and variance commentary |
| Selected indicators | Measures relevant to your operation | Definitions and reliable source data |
| Written commentary or meeting | Main movements and questions | Format, frequency and participants |
Cashflow reporting or forecasting can be added where agreed. A report describing past cash movements and a forecast estimating future cash are different outputs; we confirm which you need. Detailed departmental reporting, project margins or bespoke indicators require suitable underlying data and an explicit scope.
Turn figures into useful questions
Reports are most helpful when the figures lead to a decision or a follow-up task. If revenue rises while profit falls, the next question may concern delivery costs, pricing or sales mix. If profit looks healthy but cash is tight, unpaid invoices or the timing of commitments may need attention.
We can agree commentary that explains significant movements and identifies matters for discussion. It should distinguish known facts from assumptions and avoid implying that one month establishes a lasting trend.
Management accounts are prepared for internal business use. They are not automatically the same as statutory annual accounts, an audit or an assurance report. Annual accounts and tax requirements need their own agreed arrangements.
Build a reporting routine that your team can maintain
A reporting service needs a workable timetable. Together, we agree the period being reported, when you will supply information, which checks and adjustments are included, and the target delivery point once necessary inputs are complete.
Possible arrangements include a recurring reporting pack, a pack with a review meeting, or more detailed budget and performance analysis.
What you supply
We need up-to-date bookkeeping, access to relevant records and explanations of unusual transactions. Depending on the agreed reporting scope, inputs may include payroll summaries, stock information, loan balances, outstanding invoices and details of costs or income spanning different periods.
For comparisons with a plan, you provide an agreed budget and explain the assumptions behind it.
If the underlying records need substantial correction, we discuss that work separately or include it expressly in the engagement. Reporting dates depend on the information being available and material queries being resolved.
A hypothetical example
Imagine a consultancy that reports higher sales for three months but has less cash available. An agreed management accounts pack could show increasing subcontractor costs alongside a growing customer balance. A review might prompt the owner to examine project pricing and overdue invoices. A separate cashflow forecast could then explore the effect of different collection timings. This example illustrates questions the reports may support; it is not a client story or a promise of improved performance.
How we get started
We discuss the business and your reporting priorities, review the available records, and propose the contents of the pack. We then agree responsibilities, fees and the timetable. After the first reporting cycle, we can review whether the format answers the intended questions and agree any changes to future work.
Frequently asked questions
Do I need monthly reports?
Monthly reporting may suit a business with changing costs, active growth plans or regular management decisions. We can discuss whether another frequency would provide enough useful information.
Can you report against my budget?
Yes, this can be proposed where an agreed budget and suitable records are available. Budget preparation itself is a separate task to include if required.
Can you explain the figures to me?
Written commentary or a review meeting can form part of the scope. We agree the level of explanation and the questions the review should cover.
Can management accounts predict the future?
They mainly describe performance and position for a reported period. Forecasts use assumptions about the future and must be agreed as additional outputs where needed.
Discuss the reporting you need
Tell us what you currently receive, what remains unclear and which decisions are coming up. We can discuss a reporting pack that fits your business and the records needed to support it.
Monthly management accounts pricing
Monthly management accounts are an optional £100 per month before any EPOS Bookings client discount. They are included at no extra charge when annual turnover exceeds £600,000. At exactly £600,000, the optional £100 monthly charge still applies. Your quote confirms the reporting pack, responsibilities and timetable. CFO support and bespoke forecasting are scoped separately.