Who it’s for
-
Owners who want a clear picture
Regular management accounts show profit, cash and performance well before the year-end accounts are ready.
-
Businesses applying for finance
Banks, lenders and investors often ask for up-to-date figures, not just last year’s accounts.
-
Companies planning for tax
Knowing your profit during the year helps you plan for Corporation Tax before the bill arrives.
Advantages of management accounts
-
Informed Decision-Making
Management accounts provide valuable insights that support informed decision-making, helping you steer your business effectively.
-
Current Financial Snapshot
Gain an up-to-date snapshot of your business’s financial status, allowing you to understand your financial position at any given time.
-
Operational Efficiency
By regularly reviewing your management accounts, you can run your business with greater efficiency and effectiveness.
-
Performance Review
Easily review your business performance, cash flow, and accounting movements, understanding their potential impacts on your day-to-day activities and working capital requirements.
-
Tax Liability Minimisation
Improved financial planning helps minimise potential tax liabilities, ensuring you are not caught off guard.
-
Accurate Projections
Access accurate financial and cash flow projections, crucial for strategic planning and growth.
-
KPI Management
Manage your key performance indicators (KPIs) and key areas of business risk with precise, timely information.
-
Support for Applications
Make your accounts readily available to directors, shareholders, investors, banks, or other lenders, supporting applications and fulfilling other requirements with ease.
How we work
-
Agree what you need to see
We decide together on the reports that matter: profit and loss, balance sheet, cash flow and the key performance indicators for your business.
-
Keep the records current
Your bookkeeping is brought up to date each period, so the figures reflect what has actually happened.
-
Prepare the accounts promptly
We prepare your management accounts soon after each period ends and point out anything that needs attention.
-
Talk through the results
We go through the numbers with you and what they mean for the months ahead.
What we need from you
-
Access to your bookkeeping
Your accounting software, or the records and bank statements for the period.
-
Details of significant changes
New contracts, loans, large purchases or changes in staffing.
-
Your targets
Any budgets or goals you want the figures compared against.
Deadlines they help you plan for
-
VAT returns
Due 1 month and 7 days after the end of each VAT period.
-
Corporation Tax payment
Due 9 months and 1 day after the end of the accounting period.
-
Annual accounts
Due at Companies House 9 months after the financial year end.
-
Making Tax Digital for Income Tax
Sole traders and landlords with qualifying income over £50,000 now send HMRC quarterly updates.
Figures and dates as published on GOV.UK for the 2026/27 tax year. They can change, usually at a Budget or in April.
Frequently asked questions
-
How often should management accounts be prepared?
Monthly or quarterly is common. It depends on how quickly your business changes and which decisions the figures need to support.
-
Are management accounts the same as statutory accounts?
No. Statutory accounts are a legal requirement, filed once a year. Management accounts are for you: prepared during the year, in the format that helps you run the business.
-
Can they support a mortgage or loan application?
Lenders and other institutions may ask to see your current figures. Up-to-date management accounts can support an application alongside your filed accounts.
Other services
Have a question about this service?
Call 020 3417 4242 or email info@piyaaccountancy.co.uk, and we will explain what is involved and what happens next, in plain English, before you commit to anything.
