Why Quarterly Management Accounts are great for business

In the current market, staying on top of your finances to remain strategic, profitable and ahead of the competition, is crucial.


Waiting to do a financial review until the end of the year might seem like the easiest option, but we’ve seen for ourselves, the negative consequences this can have for clients. In many cases they’ve lost out to inflationary increases or rising expenses.


Waiting a whole year can make it too late to take corrective action when something needs changing. Whereas accessing quarterly accounts, will set you up with a more proactive approach to your financial management, arming you with better financial insights and scope to make more strategic decisions in a timely way, to grow your business.

Some of the key benefits that quarterly management accounts can provide:


1. Better financial plans
By reviewing reports on a quarterly basis, you’ll get a clear snapshot of revenue, expenses and cash-
flow trends, which can help you to set realistic budgets, monitor progress and anticipate challenges,
improving your financial planning.


2. Making sure ‘your price is right’
Bear in mind that Inflationary cost increases can impact margins, which if not picked up in time, will affect profitability. With a quarterly review, we can make sure your prices are increased appropriately to counter this, so you’ll be in more control of maintaining or increasing you profit margins.


3. More informed decision-making
Having the most up-to-date financials allows for better decision making when it comes to things like new staff hires, resourcing, any increases in overheads, pension contributions, dividend payments and much more.
You’ll also get visibility on upcoming tax liabilities so you can budget accordingly and bring forward your expenditure if appropriate.


4. An enhanced profitability analysis
By looking at detailed quarterly accounts, you can breakdown revenue and expenses, making it easier to identify the areas that drive profit and enabling you to you focus your efforts on those high-margin products or services that boost your bottom line.


5. A solution-focused approach
Quarterly accounts act as an early warning signal when it comes to identifying financial issues. They’ll enable you to address declining sales, rising expenses and cash flow problems before they escalate, helping to prevent future problems.


How Bernard Rogers & Co can help you maximise your budget


With current software solutions, such as Xero and QuickBooks, your financial information can be
extracted quickly and easily, making quarterly financial reviews a no-brainer. But the real benefit
comes from meeting with your accountant, to explore the insights behind the numbers and help you
make informed decisions – something that we always prioritise here at Bernard Rogers and Co.


All in all, quarterly management accounts can really help your business to remain competitive and profitable. Don’t wait until year-end to assess your financial performance, contact us today to talk about how we can help you grow your business.


We’ve even developed some brand-new graph packs for clients to help you better digest and
visualise your finances. Get in touch for more information.

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