Hi guys.
I just wonder what you compile together for your client (s) when you -
1) Produce them management accounts
2) Perform an annual tax review of their affairs.
Thank you
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Johnny - Owner of an overly-active keyboard.
A man who can read, yet doesn't, is in no way wiser than a man who can't.
Hi ?? (please pop your first name in your signature for us)
My clients generally only require a monthly profit and loss breakdown, plus the creditors and debtors reports. The tax review is usually ongoing if things change. I only work with small businesses tho. I am sure larger companies, and higher rate tax payers would need something more.
Hi John
As Michelle suggests - can you add your name to the signature bar - we have a campaign on here at the mo for that. Just makes it easier when talking to peeps.
In answer to your query on the managements, it can vary quite a lot between clients. I have one who wants the P&L & balance sheet whereas others just want extracts such as one who likes a breakdown of all his Bank balances, VAT calculated to date v VAT money saved, same with Corp Tax (accepting is an approximation); DLA balance, outstanding invoices and what his expected receipts are during the next week although this information is only provided on a monthly and then ad hoc basis (usually when we are meeting up and he might just phone out of the blue). He doesnt want it on software reports - just the relevant figures extracted and dumped in an email to him. Some just want to know where the credit control is up to, which often actually just boils down to - how much is due in this week.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
