Do you know the true financial position of your business?
Not everyone does as it's not the bank balance which gives the answer. Without knowing your numbers on an ongoing basis a business can easily slip into the trap of running out of cash. This is why we offer an invoice chasing service as part of our bookkeeping services.
Regardless of the size of business we would always recommend creating a P&L and a balance sheet on a regular basis, either monthly or quarterly depending on the size of business. This will enable you to be in total control of your business and be able to plan for the future growth of your business.
Profit and Loss Report
Also known as the P&L
Shows the income and expenditure for the company, and the profit or loss that has been made over a given time period
Usually produced monthly or quarterly to track profit or loss.
Produced annually as part of the Year End.
Useful for comparing periods.
Balance Sheet/Statement of Financial Position
Shows the financial position of a company at any given time
Contains all the assets, liabilities and capital the company has.
Shows how a company is doing.
Part of the Year End reporting.
All of our financial reporting services are bespoke to your requirements so feel free to call us on 01234 247507 or Email firstname.lastname@example.org to discuss what it is that you need help with in your business.
"I wanted a hands free bookkeeping service so I could focus on my business not my accounts. Lucie provides a fast, friendly and above all professional service that matches my needs perfectly."
Terry Ruddy - Streetwise Digital Marketing Ltd