Xero management accounts: clear insights, better decisions.
Say hello to efficient management accounting. At Jenkins & Co, our certified Xero advisors leverage the power of Xero for efficient and accurate management accounts. This translates to timely reports, clear KPIs, and effortless VAT filing (if applicable). We handle everything from reconciliation to year-end preparation, collaborating with your accountant to minimise your involvement.
Financial reporting services
Cloud based management reporting
We use cloud based software to connect straight to your Xero accounting package; this gives us beautiful financial reports with striking visual impact to help breakdown business performance.
We report on KPIs, financials, and summarise business performance in a succinct and helpful way to help you track exactly how your business is performing.
Our reporting is tailored to meet your needs; this is no ‘one size fits all’ service. We report on what works for you.
Learn more about Xero management accounts
Management accounts are internal financial reports that provide business owners and managers with timely insights into financial performance. Unlike annual statutory accounts, they are typically prepared monthly or quarterly to support decision-making. Key elements include a profit and loss statement, balance sheet, cash flow statement, and often tailored insights like key performance indicators (KPIs) and budget comparisons.
These reports help identify trends, track progress against goals, and spot issues such as overspending or cash flow challenges. By offering real-time financial visibility, management accounts enable proactive planning, better resource allocation, and informed discussions with stakeholders like investors or lenders.
Budgeting and forecasting services
Budgeting
We understand the importance of navigating the financial landscape with a clear vision. Our financial budgeting services empower you to make informed decisions for your business by predicting future trends and potential outcomes. This allows you to proactively manage cash flow, identify opportunities, and mitigate risks – all with the goal of achieving long-term financial stability and growth.
Forecasting
While budgeting is something that we work alongside you to create at the start of the year, we can forecast monthly or quarterly; measuring against budget and actual performance.
Both aspects are incredibly important to track your business’ progress against your goals.
Frequently asked management accounts questions
We’ve compiled a list of our most frequently asked management accounts questions. Still have questions? No problem! Just send us a message and we’ll be happy to help you find the information you need.
Resource hub: What are management accounts?
Management accounts are financial reports prepared for internal use, typically on a monthly or quarterly basis. They provide insights into a business’s financial performance to support decision-making and strategic planning.
We’ve written a dedicate post to answer this very question: What are management accounts?
That’s a tough one to answer as a general question. In our opinion, the answer for most businesses is yes.
What gets measured gets improved.
They help business owners and managers track financial performance, identify trends, manage cash flow, and address challenges proactively. They are crucial for effective planning, resource allocation, and achieving business goals.
Common components include a profit and loss statement, balance sheet, cash flow statement, key performance indicators (KPIs), and variance analysis. Additional data may be tailored to specific business needs.
Typically, they are prepared monthly or quarterly, but the frequency depends on the business’s size, complexity, and decision-making needs.
Business owners, managers, and decision-makers use them to guide operations. They may also be shared with investors, lenders, or stakeholders for transparency.
Statutory accounts are annual, formal reports prepared for external purposes like tax reporting, while management accounts are regular, flexible, and tailored for internal decision-making.
Yes, with tools like Xero, QuickBooks, and custom reporting software, businesses can automate data collection and streamline report generation.
We’ve created our own management account reporting pack that we think provides business owners and managers with everything they need.
No, they are not legally required, but they are highly recommended for effective business management.
You can use accounting software like Xero or work with a bookkeeper / accountant – although preferably us – to set up a system for regularly tracking and analysing financial data.
No, absolutely not. Every business will have slightly different requirements. That being said, our bespoke reporting package will be 90% the same across all of our clients that use it, because we know what works. That extra 10% is tailored to you, and what you need to get out of the accounts. Ultimately, the accounts have to be suitable for your business otherwise what’s the point?