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Business Planning

The role of a Management Accountant | Can A Management Accountant Help | Management Accountant Bristol
The Role of a Management Accountant 758 513 Stepping Stones Accountancy

The Role of a Management Accountant

Distractions are a day-to-day occurrence for any business owner. To ensure a business runs smoothly it’s not just about meeting the needs of your clients, you also have to make sure that your staff are OK, your marketing is working and perhaps most importantly that you have the correct accountancy infrastructure in place. Does a business owner really want to commit a large proportion of their time to ensuring that they stay on top of their accountancy needs?

This is where a Management Accountant can really help, saving a business owner both time and money. Aside from taking care of the monthly needs such as payroll and VAT returns, a Management Accountant can really embed themselves into an organisation and become a valuable resource to any business owner. They can assist with:

  • Helping to improve cashflow by exploring payment terms to both customers and suppliers, ensuring that they all are aligned correctly
  • Exploring all overheads to identify if savings can be made and to flag up any unusual or excessive spending
  • Business planning, reporting on interesting trends that could encourage a new focus or the ability to diversify

These are just a couple of examples; the role of a Management Accountant is diverse but ultimately it is to assist with the strategy and direction of a business. Of course, with no two businesses the same, a Management Accountant has to be able to adapt to each and every individual customer. A small business with 3 employees and turnover of £200,000 will clearly need different support to a medium sized business with 100 employees and a turnover of £5 million.

A good Management Accountant will not try to steer their clients into a “one size fits all mentality”, instead they will embed themselves into an organisation and adapt their own processes to suit the requirements of that of the individual client.

Should you have any questions or need some support please call us on 01173 700 079 or e-mail hello@steppingstonesaccountancy.co.uk.

Cashflow Forecasting | Business Support with Cashflow | Accountancy Help Bristol | Help Planning Cashflow
Cashflow Forecasting 758 513 Stepping Stones Accountancy

Cashflow Forecasting

Cashflow has never been more important for businesses than in 2020. The Coronavirus pandemic has shaken businesses to the core and with the potential of a second wave a potential second wave, company owners are left wondering if their business can survive another lockdown.

With government support tapering and uncertainty about what the next few months hold, cashflow forecasting is vital to understand the position of the business. Historically, many owners have worked this out in their heads or in convoluted spreadsheets but the danger is that something gets forgotten and a large, unaccounted for, outgoing could cripple the business.

Now, more than ever, accounting software is vital. A simple, easy to understand, forecasting tool that helps businesses understand their financial position and identify areas for concern, before they become overwhelming, is something that can help businesses navigate the turbulent months ahead. By understanding the business needs in advance, company owners can try to mitigate any risks identified, putting them in a stronger position to survive any further lockdowns that may come.

Our job is to guide you through the implementation and interpretation of the data in order to provide accurate cashflow forecasting. Making the process as simple and easy to manage as possible will ensure that you have real time data, providing accurate updates at any time to help underpin any vital business decisions that need to be made.

If you have any questions or need some assistance then please call us on 01173 700 079 or e-mail hello@steppingstonesaccountancy.co.uk.

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