Management reports (also known as management accounts) are typically created on a monthly basis and they should give you a clear picture of your trading situation to the end of the previous month. Management report information shows your business money out, business money in, business expenses etc and these reports are an important tool in helping you steering your business.
Part of the reason for management reporting is also to be able to ensure that your bank account is reconciled and that your financial records are not allowed to go off track.
At the end of the trading year we draw together all the monthly management reports to provide an end of year report in readiness for your end of year accounts to be created. If you need us to liaise with your accountant that’s fine or we can produce the end of year accounts for you too.