Outsourced Management Accounts for UK Businesses
A monthly pack that shows profit, cash and performance against budget, soon after each month end.
Management accounts overview
Statutory accounts tell you what happened last year, months after it ended. Management accounts tell directors what happened last month, while there is still time to act on it: margins, overheads, cash, debtors and how the business is tracking against its budget. Banks and investors may ask to see them too.
We prepare management accounts after each monthly close, from books we have reconciled ourselves or your team has closed. The pack follows the layout you choose: profit and loss by department or site, a balance sheet, cash flow, aged debtors and creditors, and budget or prior-year comparisons. Large movements come with a short written commentary, so the numbers make sense without us in the room.
For accountancy practices, we prepare monthly or quarterly packs under your brand for the clients you advise, so your team spends its time in the review meeting rather than the spreadsheet. We also track corporation tax as the year goes on, so directors know what to set aside before payment falls due nine months and one day after the year end.
Prefer to talk it through first? Call +971 54 542 4854 or email info@hof-partners.com.
Each monthly pack includes
- Profit and loss
- Monthly and year-to-date results, by department, site or project where you need it.
- Balance sheet
- Every balance reconciled, including VAT, PAYE, the director's loan account and accruals.
- Cash flow
- Where cash came from and where it went, with a rolling forecast if you need one.
- Budget variance
- Actual results against budget and last year, with large differences explained.
- Key measures
- Gross margin, overheads, debtor days and the other figures you track.
- Commentary
- A one-page summary of what changed and what needs attention.
Last month's numbers in front of you while this month can still change.
Questions about Management accounts
Statutory accounts are prepared once a year in a set format and filed at Companies House within 9 months of the year end. Management accounts are internal, prepared monthly or quarterly in whatever format helps you run the business, and are not filed anywhere.
That depends on how quickly bank statements, bills and payroll reach us. We agree a fixed close timetable during onboarding and work to it every month, so you know the date your pack arrives.
Yes. We can build an annual budget with you from last year's figures and your plans, then report against it each month. A cash flow forecast helps when a VAT quarter, a corporation tax payment or a loan repayment is coming up.
Yes. We prepare packs under your practice's brand for your advisory clients, using your templates. Your team reviews and presents them; we stay behind the scenes. See outsourced bookkeeping for accountants.
Your accounting software, such as Xero, QuickBooks or Sage, plus any reporting add-on you already subscribe to. If you have none, the pack is delivered as a spreadsheet and a PDF.
More ways we can help
All services- For accountancy practicesA white-label bookkeeping team that works in your software, to your checklists, under your name.
- Making Tax DigitalDigital records kept and quarterly figures prepared, so every MTD update is ready to approve.
- BookkeepingBooks posted, reconciled and closed every month, ready for VAT, payroll and year end.
- Xero bookkeepingYour Xero file kept clean every month: bank feeds reconciled, VAT coded, MTD returns ready.
- VAT returnsQuarterly VAT returns prepared, reconciled and ready to submit under Making Tax Digital.
- PayrollWhite-label payroll processing: pay runs, RTI figures and pension files prepared for your review.
- LandlordsRents and costs recorded property by property, with MTD quarterly figures ready to approve.
Talk to us about management accounts
Tell us what you need. Your message goes straight to our accountants, and we aim to reply within one business day.