Management accounts offer a window into your business’s financial status that help you understand performance, identify opportunities and keep the business on track throughout the year.
Management accounts are monthly or quarterly accounts prepared from bookkeeping records that provide a real-time overview of your business performance. Unlike statutory accounts, they are not required by law and can be tailored specifically to your company providing timely financial insight.
They’re a great tool for monitoring profitability, efficiency and financial trends and give you the insight and visibility you need to make informed decisions quickly and confidently.
TAILORED SUPPORT
What We Include in your Management Accounts
Profit and Loss Statement
Shows income, expenses and profits for the period which helps you monitor performance and daily trends.
Balance Sheet
Provides a snapshot of assets, liabilities and the overall health of your business.
Cash Flow Statements
We help you track how money is generated and spent to support stability and growth.
KPIs
Tailored KPIs give you an insight into what success looks like for your business.
Forecasting
We provide short and long-term forecasts to help you plan ahead and set realistic (and ambitious) targets.
Budget and Analysis
We’ll compare planned performance with actual results, so that we can help you understand where any changes are needed.
FINANCIAL CLARITY
Why Are They Needed?
Management accounts provide clarity on financial trends as they emerge, helping you to stay proactive with your finances. With regular, accurate financial information you can make confident decisions and support long-term planning.
Make timely, informed decisions regarding your business.
Identify any emerging issues early, before they impact on case or operations.
Improve budgeting, forecasting and long-term planning.
Make better strategic decisions.
Have meaningful and productive conversations with banks, investors, suppliers and stakeholders.
how we help
Why Choose Parsons?
From SME’s to larger organisations, our experienced team support businesses of all sizes with their management accounts. Combining practical business insight with technical expertise, our team deliver accurate management accounts whilst ensuring a seamless process with minimal disruption to your organisation.
When you choose Parsons for your management accounts, you’ll not only get detailed and valuable monthly reports but the strategic insight of experienced accountants who understand your business and industry.
Accounts tailored to your business priorities and KPIs.
Information presented clearly, with detailed explanations and actionable insights.
Integrate with your existing systems and processes or help you to modernise them.
Management accounts offer an insight into your business’s financial status. They provide up-to-date information on profitability, cash flow and financial performance and help business owners to make informed decisions throughout the year.
What do management accounts include?
Profit and loss statements, balance sheet, cash flow statements, KPIs, forecasting, budget and analysis.
What’s the difference between management accounts and statutory accounts?
Statutory accounts are prepared annually to meet legal and reporting requirements. Management accounts are prepared more frequently and support decision making.
PROVEN
RESULTS
Testimonials
Client feedback
PROVEN
RESULTS
“We have engaged Parsons as statutory auditor and are thrilled with their knowledge and professionalism. They have taken time to understand our business and us as individuals and have audited in a way which does not feel onerous and allows us to continue business as usual.”
Victoria McLeod
Director at Royle Recruitment
“I’ve worked with Ian and his team at Parsons for several years. They were instrumental in helping me to negotiate the successful sale of my first business and they continue to give me reliable advice and accountancy for my current business, Prosura.”
Jon Newall
CEO, Prosura Ltd
“York Medical Group have trusted Parsons as our finance and commercial partner for over six years. When the practice scaled up and merged several practices into one and became a Primary Care Network in its own right, we need fit-for-purpose financial systems. We outsourced our Financial Controller, Finance Administrator and strategic financial advice to Parsons…
Zulf Ali
CEO York Medical Group
“We outsourced our finance function because it gave us the flexibility and breadth of financial expertise we needed in the face of very rapid growth. The COVID pandemic saw our contractual income grow from a £2m to a £6.3m within a very short period of time. Our finance needs have changed along the journey and…
Maddy Ruff
CEO at Nimbuscare Ltd
“There was a lot of documentation and complex processes involved with the disposal of the business. I needed the advice of someone who understood what was required to ensure everything was done correctly and with my best interests at heart. Parsons certainly fulfilled that need. We has a very smooth deal which was comparatively swift…
Barry Vale
former owner at Ridings Reprographics
“Parsons have been with us since our first audit in 2023, supporting us as a privately owned SME in the flooring sector through an important milestone for the business. Their approachable, supportive manner made the process feel straightforward and reassuring, and we genuinely enjoy working with a team who are always on hand throughout the…
Helen De La Rue
UK Trade Furnishings Limited
“The team at Parsons York is our first port of call when we need expertise to support key strategic decisions. We know we can rely on Rebecca and Mark to answer a call and provide immediate and sound advice when we need it. Parsons provide high-level strategic insight that complements our in-house finance team and…
Jordan Cook
Managing Director at PolyGlobal Ltd
“The team at Parsons understand my business very well, they truly care about the job they do and the clients they look after. Parsons looks after my tax affairs – previously for the business and my personal tax affairs now that I’ve retired. Having that long-term relationship has been beneficial because there is an existing…
Allan Binns
Former Managing Director at Incom Systems Communication Specialists Ltd
“Parsons have been managing my annual Self Assessment tax return for several years and they are so easy to deal with, I’ve even recommended them to other people. I like working with a local business and it’s important to me that my accountant is established and professional. There’s always someone there to answer any queries…
Nick Stokes
Business Owner at Stokes Creations
“The service from Parsons is very professional and efficient. I can always get hold of an accountant when I need them, they have reliable expertise and a very good understanding of my accounts. I know I can trust them to advise me on everything I need to know and any actions I need to take.…
Malcolm Bretton
Local Farmer based in West Yorkshire
Contact us today
Ready to find out how our managed services can give you back time and provide strategic clarity? Reach out today.
