Financial Management Services
In this section:
Management Accounts
There's no easy way to say this, but... management accounts are really important. Unlike year end accounts (which are depressing enough in themselves, and are used mainly for the Inland Revenue), management accounts are for your benefit as a business owner, as they help you to control your finances and make informed decisions about how you run things. They might not be terribly exciting, but they can be a key part of your business plan, so it's worth paying attention to them.
To make your management accounts a little more interesting, we've developed a set of bespoke accounting models which highlight key factors affecting your business. By projecting results forward, and seeing the outcomes they generate, you can look at any number of "what if?" scenarios. Valuable food for thought, we're sure you'll agree. Looking in depth at your company's incomings and outgoings can highlight profit trends (such as which products are making or losing money); this, in turn, means that you can adjust the way you run things and increase your profits. Starting to see why these accounts are important now?
As well as simply showing you how you might be making more money, management accounts are sometimes required by bankers in support of lending facilities. The set you receive from us will be specifically tailored to your needs, and might even include colour graphics. These will spell things out in black and white, so to speak, and help you to understand your company's situation in more straightforward terms. For this reason alone, it's worth looking at management accounts a little more closely then you might otherwise deem necessary.
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Projections - Cashflows and Profit Forecasts
As a business owner, you're always looking ahead, planning the way you'll be working in six months a year, possibly even five years' time. When you're thinking so far in advance, it's essential that you have accurate facts and figures to work with.
The highly-trained and eminently friendly staff at Jones Harris provide an efficient, cost-effective cashflow and profit forecast service. You'll be able to see the impact of a different business strategy on your finances, before you put it into action - hugely important for testing out ideas. If you're looking for funding from a bank or other lender, a cashflow projection may be essential.
Ever heard the phrase "cash is king"? It's true, you know, and our projections help you to control your cashflow and identify potential problems before they arise. This way, you have a closer grip on the way your company functions, and a better chance of making the right decisions in both the short and long term.
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