Harnett Accontants

Harnett & Co | Chartered Accountants, Kingston upon Thames
Global House Business Centre 1 Ashley Avenue Epsom Surrey KT18 5AD
ICAEW Authorised Practice
01372253100
Management Accounts | Harnett & Co Chartered Accountants Kingston upon Thames Skip to main content
Business Services

Management
Accounts

Monthly and quarterly financial reports that give you a clear, timely picture of how your business is performing. Profit and loss, cashflow, KPIs and variance against budget - all prepared and delivered to your timetable so you can make decisions with confidence.

📞 01372253100
Why management accounts matter

Running a business on last year's numbers is not a strategy

Most small and medium-sized businesses only see accurate financial information once a year when their statutory accounts are prepared. By then the information is 12 to 18 months out of date. Decisions about hiring, investment, pricing and cashflow have all been made in the dark.

Management accounts change that. Prepared monthly or quarterly, they give you a current, accurate picture of revenue, costs, margins, cashflow and the key metrics specific to your business. You can see whether you are on track against budget, where costs are running ahead and whether the business has the cash reserves to support planned investment.

At Harnett and Co we prepare management accounts for owner-managed businesses, growing companies and groups with subsidiaries. We do not just send you numbers. We provide commentary that explains what the figures mean and flags anything that needs your attention. Many clients tell us this is the single most useful thing we do for their business.

Current financials every period - profit and loss, balance sheet and cashflow prepared within 10 to 15 working days of your period end
Variance analysis against budget - every line compared to budget and prior year so you can see immediately where performance is ahead or behind plan
KPI dashboard tailored to your business - gross margin, debtor days, stock turns, revenue per head or whatever metrics drive your specific industry
Written commentary included - plain English explanation of the key movements, trends and any items requiring management attention
Board pack ready - formatted and structured for presentation to directors, investors or lenders without any extra work on your part
Easier year-end - because your books are kept up to date monthly, year-end accounts and corporation tax are faster, less disruptive and lower cost
What is included

Everything you need to run your business with clarity

Every management accounts pack we produce contains the core financial statements plus the analysis and commentary to make them genuinely useful.

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Profit and Loss Account
Monthly or quarterly income and expenditure showing revenue, cost of sales, gross profit, overheads and net profit. Current period, year-to-date and comparison to budget and prior year on the same report.
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Balance Sheet
Snapshot of assets, liabilities and equity at each period end. Tracks net asset position over time and identifies movements in working capital, debt levels and retained earnings.
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Cashflow Statement
Actual cash in and out during the period, reconciled to the opening and closing bank position. Clearly shows the difference between reported profit and cash generated, which are often very different.
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KPI Dashboard
Key performance indicators tailored to your business and sector. Gross margin percentage, EBITDA, debtor days, creditor days, revenue per employee and any sector-specific metrics relevant to your model.
Bespoke
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Budget and Variance Analysis
Every line compared against the agreed annual budget with percentage and pound variances highlighted. Tracks cumulative year-to-date performance against full-year targets so you can reforecast accurately.
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Debtor and Creditor Reporting
Aged debtor and creditor analysis showing who owes you money, how long it has been outstanding and what you owe suppliers. Gives you the information to manage working capital and cash position actively.
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Cashflow Forecasting
Rolling 13-week or 12-month cashflow forecast updated each period using actual figures. Identifies future cash shortfalls early enough to take action, rather than discovering a problem when it is too late.
Add-on
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Management Commentary
Written narrative covering the key financial movements in the period, notable variances, trends and anything the management team needs to be aware of or act on. Not just numbers but insight.
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Board Pack Preparation
Professionally formatted management accounts pack ready to present to your board, investors or lenders. Includes executive summary page and can be tailored to meet specific investor or lender reporting requirements.
Add-on
Monthly or quarterly

Choose the frequency that fits your business

The right frequency for management accounts depends on the pace of your business, the complexity of your finances and how actively you use financial information to make decisions. There is no one-size-fits-all answer, but there are clear signals that point you in the right direction.

Faster-growing businesses, those with tight cashflow, seasonal trading patterns or investor reporting obligations almost always benefit from monthly accounts. More established businesses with predictable revenue and stable costs often find quarterly accounts give them everything they need at a lower cost.

We will advise you on the right approach for your specific situation. Many clients start with quarterly accounts and move to monthly as their business grows or their information needs change. We make it straightforward to adjust frequency without changing anything else.

Most popular
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Monthly Management Accounts
Delivered within 15 working days of period end
Full P&L, balance sheet, cashflow, KPI dashboard and commentary every month. Gives you the most current view of business performance and the earliest possible warning of problems or opportunities. Best for active management of the business.
Best suited to: Fast-growing businesses, businesses with tight cashflow, seasonal businesses, those with investor or lender reporting requirements, and businesses where the owner wants to manage closely.
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Quarterly Management Accounts
Delivered within 15 working days of quarter end
Full financial pack every quarter with the same scope as monthly accounts. More cost-effective for stable businesses where financial performance does not change dramatically month to month. Still far more timely than annual statutory accounts.
Best suited to: Established businesses with stable revenue, professional services firms with predictable billing, and businesses where the owner reviews performance less frequently.
What your pack looks like

Clear, well-structured reports you will actually read

Management accounts are only useful if they are clear enough to act on. We format every report so the most important information is immediately visible without wading through pages of raw numbers.

Each pack opens with an executive summary covering the headline figures and the key points from the period. The detailed P&L follows with prior year and budget columns alongside. The KPI page uses a consistent format each period so trends are easy to spot at a glance.

Reports are delivered in PDF and Excel formats. If you use Xero, QuickBooks or Sage we can also provide live dashboard access so the figures are available in real time, with the formal management pack provided as a structured review document at each period end.

Management Accounts - October 2025 Prepared by Harnett and Co
Revenue £142,800
Cost of Sales (£58,200)
Gross Profit £84,600 (59.2%)
Overheads (£61,400)
Net Profit £23,200 (16.2%)
Variance vs Budget +£3,100 ahead
Cash Position £47,550
59.2%
Gross Margin
28 days
Debtor Days
16.2%
Net Margin
+15%
Revenue vs PY
How it works

Set up once, delivered reliably every period

We take care of the process so you receive your reports without having to chase, remind or follow up.

1

Initial setup

We review your chart of accounts, agree the KPIs and format for your pack, set up the budget in your accounting software and establish the reporting timetable.

2

Bookkeeping and coding

Transactions posted, bank reconciled, accruals and prepayments journalled. Your books are closed off accurately each period before the management pack is produced.

3

Pack preparation

Reports pulled, KPIs calculated, variance analysis prepared and commentary written. The pack is reviewed internally before it is sent to you.

4

Delivery and review

Pack delivered by the agreed date. We are available to walk through the figures with you and answer any questions, by call or in person.

Cloud accounting software

Live data, faster reporting

We work with all major cloud accounting platforms. If you are already on Xero, QuickBooks, Sage or FreeAgent we can connect directly to your data, which means faster turnaround on your management accounts and no manual file transfers.

If you are not yet on cloud software we can migrate you as part of the onboarding process. The investment in a proper cloud setup pays back quickly through faster reporting, better visibility and a smoother year-end process.

We can also set up live dashboard tools that sit on top of your accounting software, giving you real-time visibility of key figures between formal reporting periods.

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XeroLive data connection
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QuickBooksLive data connection
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SageLive data connection
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FreeAgentLive data connection
Who we work with

Management accounts for businesses at every stage

From growing start-ups to established owner-managed businesses, we produce management accounts that match the complexity and pace of your business.

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Growing Businesses
Businesses scaling from £500k to £5m turnover where decisions about hiring, pricing and investment need to be grounded in current financial information rather than gut feeling.
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Owner-Managed Companies
Owner-directors who want a clear monthly or quarterly picture of what the business has earned, what it has spent and what cash is available, without spending hours pulling it together themselves.
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Businesses with Finance
Companies with bank loans, invoice finance facilities or external investors that require regular management accounts as a covenant or reporting condition of their funding arrangements.
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Construction and Property
Construction contractors and property developers where project-level profitability, retention tracking and cashflow timing are critical to managing working capital effectively.
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Retail and Hospitality
Businesses with seasonal trading patterns, high cost of sales and multiple revenue streams where monthly tracking of gross margin and overheads is essential to staying profitable.
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Groups and Subsidiaries
Groups requiring consolidated management accounts across multiple entities, inter-company eliminations and reporting to a parent company or holding structure on a regular basis.
Common questions

Management accounts questions answered

Statutory accounts are prepared once a year, follow UK GAAP or IFRS accounting standards and are filed at Companies House. They are prepared primarily for regulatory compliance and external reporting. Management accounts are prepared monthly or quarterly for internal use by the management team. They are not filed anywhere and are not subject to the same formal presentation requirements. Their purpose is to give management a current, accurate picture of financial performance so decisions can be made on real data. Management accounts are often more detailed than statutory accounts and typically include KPIs, variance analysis and commentary that would not appear in statutory filings.
For most clients we deliver management accounts within 10 to 15 working days of the period end. The exact turnaround depends on how quickly transactions are posted and bank statements are available, which is why we recommend cloud accounting software for all management accounts clients. With a live Xero or QuickBooks connection the bookkeeping can be largely completed during the month, which means we can often deliver within 7 to 10 working days of period end. We agree a specific delivery date with each client and treat it as a firm commitment.
Not necessarily. If your bookkeeping is already well maintained by an in-house bookkeeper or another firm, we can work from those records and produce the management pack on top. However, the quality of management accounts is entirely dependent on the quality of the underlying bookkeeping. If transactions are miscoded, bank reconciliations are not up to date or accruals have not been posted, the management accounts will be inaccurate and potentially misleading. We will always review the underlying records before signing off on any figures and will flag issues rather than produce reports we cannot stand behind.
Yes. Budget preparation is included as part of the onboarding process for all new management accounts clients. We work with you to build a monthly budget for the full financial year, broken down by department or cost centre as required. The budget is loaded into your accounting software so variance analysis is automated each period. We recommend reviewing and reforecasting the budget at least quarterly, particularly in the first year, and can assist with that reforecasting process as part of the ongoing service.
Yes, this is one of the most common reasons businesses come to us for management accounts. We are familiar with the reporting formats and covenant requirements of the major high street banks and challenger banks operating in the SME lending market. We will review your facility letter to understand exactly what the bank requires in terms of format, content and delivery timescales, and build that into the reporting process. If the bank requires specific financial ratios to be reported alongside the accounts, we include those as standard in your KPI dashboard.
Significantly. When management accounts are prepared monthly throughout the year, the books are kept current and well-maintained at every period end. Accruals, prepayments and balance sheet reconciliations are done each month rather than all at once at year-end. This means the year-end statutory accounts can be completed much faster, with fewer queries and corrections, and at a lower cost. Clients who move from annual accounts preparation only to monthly management accounts typically see their year-end process become notably faster and less disruptive. It also means provisional tax estimates are available much earlier in the year.
The cost depends on the frequency (monthly or quarterly), the complexity of the business, the number of entities and whether bookkeeping is included or just the pack preparation. We agree a fixed monthly fee with every client before we start so there are no surprises. As a guide, quarterly management accounts for a straightforward owner-managed business with clean bookkeeping start from a few hundred pounds per quarter. Monthly accounts for a more complex business with multiple departments or reporting entities will be priced accordingly. Please contact us for a specific quote based on your situation.
Related services
📒
Bookkeeping and VAT Returns
The foundation of every management accounts service. Accurate monthly bookkeeping means your management pack is based on reliable data and delivered on time, every period.
Learn more ›
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Year-End Accounts and Corporation Tax
When management accounts are kept current throughout the year, year-end accounts are faster to produce, cheaper and far less disruptive. The two services work hand in hand.
Learn more ›
🔮
Cashflow Forecasting
Management accounts tell you what has happened. Cashflow forecasting tells you what is coming. Together they give you a complete picture of both current performance and future position.
Learn more ›
Ready to get started?

Stop running your business on last year's numbers

Talk to us about management accounts. We will explain what is involved, agree the format and frequency that works for you and give you a clear fixed fee before we start.

📞 01372253100