In this blog we’ll walk you through the practical steps to prepare your bookkeeping for year-end, whether you do it yourself or work with a bookkeeper.

If you’ve ever wished you could peek into the future of your business; spot cashflow crunches before they happen, see whether you can afford to hire, or know if that “busy” month actually made you any money—management accounts are the closest thing you’ll get to a crystal ball. They don’t just tell you what happened last year (or even last quarter). They tell you what’s happening now, what’s likely to happen next, and what you can do about it.

Cash flow isn’t just “money in vs money out.” It’s knowing what’s coming, what’s due, what you’ve already spent (even if you haven’t paid it yet), and having records to back it all up when you need them. For many service based businesses, the biggest cash flow headaches come from two simple gaps: