Close the books on an agreed timetable and give management a consistent view of profit, cash and working capital. We can help with monthly close preparation, balance-sheet reconciliations and management reporting, with ownership and review agreed up front.
Discuss your requirementsaccountancy services for growing companies
| Stage | Typical work | Output |
|---|---|---|
| Collect | Agree cut-off and gather invoices, payroll summaries, bank data and stock or contract schedules. | Complete inputs list and outstanding items. |
| Reconcile | Check bank, receivables, payables and other agreed balances to supporting records. | Reconciliation pack and exceptions list. |
| Adjust and review | Prepare agreed accruals, prepayments, depreciation and other entries for review. Compare results with plan and prior months. | Reviewed trial balance and explanations of material movements. |
| Report and act | Issue the agreed management accounts, flag cash pressures and assign follow-up actions. | Monthly pack with named action owners. |
The pack can include a profit and loss account, balance sheet, cash movements, aged debtors and creditors, actual-versus-budget analysis and business-specific KPIs. Agree the reporting cut-off and whether directors need a dashboard, commentary or a rolling forecast alongside the accounts.
Suppose operating profit is broadly flat while cash falls £40,000. If £30,000 relates to slower collections and £10,000 to an annual supplier payment, the review can show those drivers separately. Management can then assign responsibility for overdue invoices and schedule the next annual payment in the forecast.
Start with the current close calendar, latest trial balance, reporting pack and a list of recurring reconciliation issues. We agree what can be prepared internally, what needs our review and when management can expect the pack. See the worked management reporting pack, our management reporting and board pack service and our financial controls and governance service.
Set your timetable around when reliable source data arrives and when directors need the pack. The days below illustrate one possible schedule. Each task needs a preparer, reviewer and escalation point for missing information.
| Timing | Close tasks | Review point |
|---|---|---|
| Before month-end | Confirm invoice and payroll cut-offs, stock inputs where relevant and who supplies each file. | Escalate late inputs before they delay the close. |
| Working days 1–3 | Reconcile bank and card accounts, check debtor and creditor listings and capture late invoices. | Record missing evidence and identify timing differences. |
| Working days 4–6 | Prepare agreed accruals, prepayments and other journals. Reconcile material balance-sheet accounts. | Review journal support and sign off unresolved items or estimates. |
| Working days 7–8 | Explain variances and cash movements. Issue the agreed pack and assign actions. | Discuss the largest movements and record who will follow up. |
Suppose gross margin is 52% against a 56% budget. A useful commentary checks whether pricing, mix or delivery costs drove the change. If a single contract accounts for most of the gap, assign a review of its pricing and delivery assumptions and capture the effect in the next forecast. Use our worked management reporting pack for more examples.
If delays come from older unreconciled balances, a catch-up project can identify the affected periods and establish opening balances. If delays recur because the current team lacks capacity, a recurring close can define preparation, review and reporting responsibilities. Our bookkeeping support can address source records, and year-end preparation can use the resulting schedules.
We can scope a catch-up project around the periods and balances affected, then agree how to keep the close current.
Timing depends on when source data arrives and how much reconciliation and review is required. We agree a realistic target and owners for late items.
Reviewed balances and a record of judgements give the year-end team a starting point. The annual accounts can require further adjustments and disclosures.
See also our bookkeeping, VAT and payroll support and year-end accounts and audit preparation.
Tell us when you currently close, when directors need the pack and which balances or reports cause delays. Bring the last pack or describe what it contains. We can then discuss catch-up work or a regular close.
Enquire about month-end support