Hi
Does anyone offer management accounts/reports are part of their monthly bookkeeping?
I am looking at value adding to my service. I currently provide the usual p&l and those that have creditors/debtors a report to show what is owed/owe.
What else would you provide? Budgeting/cash flow? Ratio analysis?
I use VT and the reports produced are limited, any tips on building spreadsheets from this? I current make a monthly p&l.
Thanks Lyndsey
I'd say that you'd need to be providing costings of units, flexed budgets, variances - favourable and adverse. ABC and such. You'd make a small fortune if clients were willing. Maybe your ideal target would be either struggling clients or those new to business. Step one is selling the benefits to performing the above.
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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.
To add - as you're studying AAT you shouldn't have any problems providing the above. If you could bring together real managent accounts with a fresh knowledge of tax I'd say you'd be pretty valuable to any client. Much of what we see (financial) is after the fact, whereas with management you could help steer a business forward. Just thoughts of course.
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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.
I think I'm having a babbling on day today! Also to learn is what the numbers mean, not just the technical side but the theory behind it. That is the difference between AAT and ACCA / CIMA. What I've discovered, although not as easy to learn, if you learn the theory the rest is basic maths.
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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
Don't rely on VT itself for the reports, the whole point of that software is you drag out what you want into excel and then play with it to your hearts content, creating whatever reports you wish.
Even with reports from other software I know folk, me included sometimes, who will drop it into excel and make it look more professional, depending on the size of the business and where the report is going next (eg the bank!).
I base mine on customer need but do ask the questions about the sort of thing they are looking for so you can tailor it for each customer.
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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
Thanks (sorry I've been on here on my phone and it doesn't let me subscribe so I am missing the replies!)
I don't use VT reports (they are very limited!). Out of interest how do you export to excel to create the reports? Just c&p from the day books? Or is there something special I am missing? I have found sometimes if an entry has two separate analysis codes it doesn't split and puts only the first code.
Hi Lyndsey
I am more of a sage user, but Ive dragged stuff out of VT when requried - you can switch to excel view in various areas and also use the copy and paste to excel function. Shaun is really your man for this.
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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
