In essence, management accounts are a set of financial statements that cover a proportion of an annual financial year.

They are requested by both bankers and financiers to determine the financial performance & position of a company within a specific period after the financial year end.

Management accounts can be for a period between 1 month to 11 months after the last previous financial year.

We issue management accounts dependent on what the financier has requested you.

Small businesses hardly maintain or have financial records for the preparation of management accounts.

However,

We at Fixonate, understand this situation way too well.

We assist small businesses with the preparation of management accounts by grouping & analyzing transactions on bank statements. We then come up with a list of business income, expenses, debts creditors as well as assets to enable us with the preparation of management accounts.

Its a fairly easy process and we encourage that any small business, regardless of whether you keep financial records or not, can get a set of management accounts compliant with what the banks and the financiers are looking for.

To obtain a set of management accounts, start off by putting together the following documents.

We also assist in the following areas if you are in the process of applying for finance.