Get a handle on management reports
Sarah Daly FCCA, Accredited EMCC Coach, MBS, BBS (Acc)
Guiding Business Owners to Navigate Growth or Exit | Partner with me to either Scale for Success or Sell for Maximum Value | Expert in both
Monthly management reports that show how your business is performing enable you manage your business more efficiently and make better business decisions.
At a minimum, you should get a monthly report showing the up-to-date picture regarding your:
·?Profit and Loss
·?Balance Sheet
·?Aged debtors (who still owes you money)
·?Aged creditors (who you still owe money to)
If you spot any signs that your business might be about to run out of cash, don’t ignore the problem as it is illegal for your company to trade if it is insolvent.
Need help generating or interpreting your business’s management reports??Contact GroForth?for details of our bookkeeping services.