Need better visibility over your business?
Your bookkeeping might be up to date, but that doesn’t automatically give you clarity.
If all you see are raw figures and a once-a-year set of statutory accounts, it’s hard to answer questions like:
- Are we really making money – and if so, where?
- Can we afford to hire, invest or expand right now?
- Why is there “profit” but not much cash in the bank?
- Are costs creeping up in ways we haven’t spotted?
Without timely insight, decisions are slower, risks go unnoticed and opportunities get missed.
THP’s management accounts service gives you regular, easy-to-understand reporting – backed by experienced accountants who help you interpret the numbers and decide what to do next.
What are management accounts?
Management accounts are periodic reports (typically monthly or quarterly) that give you an up-to-date picture of how your business is performing, both financially and operationally.
Unlike statutory accounts, which are mainly for HMRC, Companies House and other external stakeholders, management accounts are designed for you and your decision-makers. They:
- Bring together key figures such as revenue, costs, profit, cash and tax
- Highlight trends and variances against expectations
- Combine numbers with clear commentary and recommendations
- Support conversations with banks, investors and other stakeholders
- Help you spot anomalies early – whether that’s creeping costs or unusual transactions that need investigation
In short, management accounts help you see what’s really happening in the business now, not twelve months after the year has ended.
Why choose THP for management accounts?
When you ask THP to prepare your management accounts, you don’t just get a set of reports. You get an experienced team that works with owner-managed and growing businesses every day.
THP is a mid-sized firm with the resources to support complex businesses while still offering a personal, relationship-led service.
Here’s what that means in practice:
What your management accounts can include
Every business is different, so we tailor your management accounts to your needs. As a starting point, most THP management accounts will include:
There’s an additional benefit too: because your records are kept in good order throughout the year, your statutory annual accounts can usually be prepared more quickly and efficiently – often reducing the cost of year-end compliance work.
How our management accounts service works
If you want us to prepare your management accounts, we keep the process straightforward and transparent:
- Initial conversation
We discuss your business, sector, structure and goals. We’ll also talk about who will use the reports (owners, directors, lenders, investors) and what decisions they need to make. - Review of your existing systems
We look at how you currently keep your records – whether that’s Xero, FreeAgent or other software– and advise on any changes needed to produce reliable, timely data. - Agree the format and frequency
Together we agree:- Monthly or quarterly reporting
- The content of your management accounts (e.g. KPIs, segments, commentary level)
- Deadlines for receiving information and delivering reports
- Whether you’d like a regular review meeting with us
- Preparation of your management accounts
After each period, we:- Collect and check your underlying data
- Prepare your management accounts to the agreed format
- Flag any anomalies or issues that need explanation or follow-up
- Review and action
We walk you through the results, answer questions and agree any actions or changes you’d like to make – for example, revising budgets, tightening credit control or adjusting pricing.
We can work alongside your existing bookkeeper or internal finance team, or provide bookkeeping through THP if you’d prefer a fully outsourced solution.
Your outsourced Financial Director
Many businesses reach a stage where they need FD-level input, but aren’t yet ready to hire a full-time Finance Director.
That’s where THP’s outsourced Financial Director (FD) service comes in.
One of our experienced senior accountants can:
- Help you identify and track the right KPIs for your business
- Support you with cashflow management and planning ahead for tax, loan repayments and major outlays
- Assist with raising or restructuring finance, preparing information for banks and other funders
- Provide an impartial “critical friend” to challenge assumptions and stress-test your plans
- Represent the finance function at board or management meetings, as needed
You get access to high-level financial insight and experience, without the fixed cost of a permanent FD. For many clients, this has been a key step in moving from “firefighting” to controlled, sustainable growth.
Meet the THP Management Accounts Team
Your management accounts will be prepared and reviewed by experienced accountants who work with owner-managed and growing businesses every day. Below are some of the THP specialists you may be working with.
Lee Daley
Lee is a Client Director and one of THP’s Responsible Individuals, authorised to sign off audit reports for larger clients. He has spent his entire career with THP, building long-term relationships and is known for his friendly, approachable style and focus on solving clients’ day-to-day financial challenges. Management accounts are one of Lee’s key specialisms: he regularly uses detailed monthly and quarterly reporting to help business owners understand their numbers, improve cashflow and plan strategy with confidence.
Kirsty Demeza
Kirsty is a Client Director with a portfolio that ranges from ambitious start-ups to established companies with turnovers of up to £10 million. She is recognised for working closely with clients over the long term, helping them navigate growth, new premises and major contracts. Alongside tax planning, VAT and audit work, she often supports businesses with structured management accounts and KPI reporting, using regular performance data to highlight trends, manage risk and identify opportunities for further growth.
Kate Brasser
Kate is an FCCA-qualified Client Director who helps clients get to grips with both their day-to-day numbers and their longer-term business plans. With experience spanning sole traders through to larger owner-managed companies, she is particularly skilled at turning complex financial information into clear, practical insights that directors can act on. Management accounts are a core part of her work: Kate uses tailored monthly or quarterly packs to track margins, support strategic planning and keep businesses firmly in control of cashflow and profitability.
Mark Ingle
An owner-manager business specialist, Mark is adept at building relationships with all our clients, including those that use our Corporation Tax services. “I like to help firms to grow and succeed and our business accounting services have a lot to offer them.” Having worked for accountancy practices in London and Essex, Mark is experienced at supporting businesses of all sizes. For him, THP stands out because of its “local firm approach with the resources of a larger practice.”
Debbie West
Debbie is an FMAAT-qualified Client Manager and is responsible for the day-to-day running of THP’s Saffron Walden office. She has been with the THP family throughout her career and is known for her tailored approach, taking time to understand each client’s business before advising on tax, VAT and remuneration planning. Her management accounts work draws on this detailed understanding: Debbie prepares clear, accurate management accounts and commentary that give owners a realistic picture of performance, support informed decision-making and help ensure their statutory and tax obligations are met smoothly.
Who is our management accounts service for?
Our management accounts and outsourced FD services are suitable for a wide range of organisations, including:
- Limited companies and LLPs
- Owner-managed and family businesses
- Growing firms preparing for investment, expansion or sale
- Established businesses that want more timely, insightful reporting than year-end accounts alone can provide
- Businesses looking to improve cash management, profitability and control
If you’re not sure whether you need our management accounts service, we’ll happily talk it through with you and give you an honest view.
Bookkeeping service FAQs
Most of our clients choose monthly or quarterly management accounts. Monthly reports give the most up-to-date picture and are ideal for growing or fast-changing businesses. Quarterly reports can work well where activity is more stable or seasonal.
We’ll recommend a frequency based on your size, complexity and goals.
You don’t have to be using a particular package already. We work with most major systems and can prepare management accounts from a variety of sources.
That said, management accounts work best with cloud accounting software. THP has extensive experience with Xero, FreeAgent and most common accounting packages. We can:
- Advise you on the most suitable package
- Help you move from your existing system
- Show you and your team how to use it properly
- Integrate bookkeeping and management reporting so data only needs to be entered once
If you’re happy with your current software, we’ll tell you honestly whether a change is necessary.
The cost depends mainly on:
<ulclass=”list-ticks”>
- How often you want management accounts (monthly vs quarterly)
- The size and complexity of your business
- Whether you also want an outsourced FD service or additional planning / forecasting work
We’ll give you a clear quote in advance, explain exactly what’s included and, wherever possible, agree a fixed fee so you can budget with confidence.
Yes. Lenders and investors generally expect up-to-date, well-prepared management information.
Good management accounts can:
- Demonstrate that you understand and control your finances
- Show consistent performance and trends over time
- Support funding applications with the detail banks and investors look for
Where appropriate, your outsourced THP Finance Director can also help you prepare for meetings with funders and interpret the financial covenants or conditions they propose.
In most cases, yes. When your figures are reviewed and reconciled regularly as part of a management accounts process, your year-end statutory accounts can usually be prepared more quickly and efficiently. That often translates into lower year-end accountancy costs and fewer last-minute surprises.
Absolutely. We regularly work alongside in-house finance managers, bookkeepers and finance teams.
We can:
- Use the data they prepare as the basis for your management accounts
- Help refine internal processes and controls
- Provide an external perspective, challenge and support at a senior level
If you don’t have an internal team, we can provide bookkeeping and payroll through THP so that everything – from day-to-day entries to board-level reporting – is handled under one roof.
Ready to talk about management accounts?
If you’d like to:
- Get clearer, more regular insight into your business performance
- Introduce a practical management accounts process
- Explore the benefits of an outsourced Financial Director…
…we’d be delighted to help. Simply get in touch with our friendly management accounts team.
Call THP today on 0800 6520 025 or contact your nearest Wanstead, Sutton, Chelmsford or Saffron Walden office to arrange a free, no-obligation consultation.
Management Accounts News
Want to learn more about Management Accounts? If so, please browse our blog articles.
What a part-time Finance Director can do for a growing SME
Finance director – using an accountant at your board meetings – 5 benefits
