A BWA is not management reporting.
We turn ongoing accounting into a structured monthly close and financial reporting process that helps management understand the business.
Numbers are only useful while they are still current.
A report arriving several weeks after month-end may be historically correct. That does not necessarily make it useful. Management needs sufficiently current information on revenue and profitability, major cost movements, liquidity, receivables and payables, relevant balance sheet positions and deviations that require attention. That starts with a proper monthly close.
From bookkeeping to monthly close.
Defined Cut-Off
We agree when documents and information need to be available.
Reconciliations
Bank accounts, relevant balance sheet accounts and open items are reviewed as part of the closing process.
Period Allocation
Material items are considered in the period in which they economically belong where appropriate.
Review
Unusual developments and unresolved positions are identified before reporting is finalised.
Close
The month reaches a defined reporting status rather than remaining permanently unfinished.
Reporting built around the business.
Not every company needs a 40-page reporting package. But management should receive the information required to run the company. Depending on the setup, this can include P&L · Balance Sheet · Cash Position · Accounts Receivable · Accounts Payable · Working Capital · Cost Centres · Plan vs. Actual · Bank Reporting · Investor Reporting.
One version of the numbers.
Accounting, reporting and tax should not operate on three unrelated datasets. By building the reporting process directly on the underlying accounting, differences can be identified early and explanations remain traceable.
Ready for external scrutiny.
Structured monthly closes also create a stronger basis when numbers later need to be provided to banks · investors · financing partners · shareholders · due diligence advisers · potential buyers. That is why we think about reporting with future transactions in mind.
Outsourced Close
We can run the recurring close and reporting process as part of an outsourced finance function.
After an Acquisition
New owners usually need a working close process within the first months of ownership.
Still making management decisions based on last quarter's numbers?
Tell us what you currently receive each month and what you actually need.