From information supplied by you, we will maintain your accounts on our computer system and produce management accounts and other essential management information on a regular basis. This is an alternative to outsourcing where the volume of information is such that it can be easily transported to our office and maintained by experts on your behalf. These are vital for successful management of your business during periods of growth or contraction. When organised to an efficient time schedule and produced on a monthly or quarterly basis, they will provide valuable information to help you monitor the results of your business and maintain a tight leash on the activities. In other words – this will provide you with a stronger control process. A system to generate hard facts about your business performance will be in place.
To elaborate further, our specialised service will provide detailed information to help, for example, track the rise and fall in sales and profit margins to determine which individual products or services are performing well or poorly. It will provide management information on a regular, timely basis covering vital data such as weekly/monthly sales figures, overheads, variances on budget, prior year comparisons, gross margins, aged debtor analysis, stock turnover and so on – all at the push of a button when run on a computerised accounting package.
By providing management reports on a regular basis, and installing the proper accounting systems to automatically extract key information, Omega Accountants helps you realise your full business potential.
We make it our business to understand your business strategy, business planning – key phrases in starting, growing and maintaining a successful concern. At Omega’s, first hand strategic business advice is delivered by a professional team whose role is to understand and analyse your business, your marketplace, your goals and help you identify the best route to realising your full commercial potential.
Where we will help you devise the right plan to match your specific needs, whether for a new business or for further investment in an existing one. Essential to clarifying objectives, usually vital to securing funding from lending institutions we will work with you to create an achievable plan that adapts to meet changing circumstances and takes advantage of emerging opportunities.
Do you need to borrow, and when? Should it be a loan or an overdraft, or both? What about hire purchase to buy machinery, or perhaps equipment is best leased? Possibly a loan guarantee scheme would be ideal at this time? And over what periods should you borrow, and what on terms to best suit your planned business demands? We have the experience – and all the right contacts in all the right places.
Because, as every businessman knows, Cash is vital for survival and growth. We can help you stay in control with regular cash flow forecasts. We’ll analyse business performance on a detailed monthly, quarterly, annual basis, help you understand what cash resources you have, how to utilise them and how to prevent unnecessary extra borrowing. In short, we’ll help save you money.
Along with cash flow forecasts, we’ll work with you to supply budget plans on a monthly, quarterly and annual basis. Plans that work at the detail and help iron out the trading troughs from the peaks, tidily synchronise such things as income and payment patterns and maximise business performance.
For more info on Management Accounts, contact us