Your accountant just does your annual accounts and tax return, right? Not quite.
A good accountant is in touch with you and your business throughout the financial year, checking in, finding out where they can help and offering solid, practical advice.
Here are five areas of your financial management where talking regularly to your accountant is well worth the time, and where we, as a firm, can help.
Key points
- Cashflow forecasts give you early warning of shortfalls, so you have time to act.
- Sales measures such as customer acquisition cost and lifetime value show where your revenue really comes from.
- Regular profit and loss and balance sheet reports keep you in control between year-ends.
- Margin analysis and return on investment modelling help you weigh up spending decisions.
- Sometimes the most useful thing is simply a sounding board for your plans.
On this page
Cashflow, budgeting and spend management
Cash is king, so keeping on top of your cashflow is a must.
We can produce cashflow forecasts to predict future shortages, giving you time to take action and avoid those cashflow gaps. We can suggest realistic operating budgets, look for overspending and suggest practical ways to keep your cash position positive.
A forecast doesn’t need to be complicated. Even a simple month-by-month view of what’s coming in and going out can show you a pinch point months before it arrives.
Revenue generation and sales strategy
Steady, reliable revenue is what drives the financial performance of your business.
We can review your key sales measures, like customer acquisition cost (CAC) and customer lifetime value (LTV), to look for opportunities to improve your revenue. That could mean reviewing your pricing, trying new sales approaches or focusing on your most profitable products or services.
Financial reporting and performance
Having up-to-date, detailed financial reporting keeps you in control of your finances.
We can produce regular profit and loss (P&L) and balance sheet reports to help you track your performance over time. We can also set up real-time dashboards in your cloud accounting software, giving you the key figures you need to keep an eye on performance day to day.
Monthly or quarterly management accounts mean you’re not waiting until the year-end to find out how the business did.
Profitability and investing in growth
To evolve, expand and grow, it helps to be profitable as a business.
We can carry out a detailed margin analysis, looking at everything you sell to pinpoint the areas of high and low profitability.
We can also model the return on investment (ROI) you might expect from capital spending, such as new equipment or premises, helping you make sensible, sustainable decisions about investing for growth.
A sounding board for your plans
Running a business can be overwhelming and sometimes lonely. It’s easy to wonder whether you’re focusing on what really counts, especially when it comes to your financial goals. Having an experienced, friendly adviser to talk to can really help when you’re weighing up your future plans.
That might be a quick call before a big decision, or a regular catch-up to look at how the year is going and what’s coming next.
Talk to us about supporting your business
Come and talk to our team about how we can support your financial management, your revenue goals and the overall financial performance of your business. Call us on 020 7164 0225, send us a WhatsApp message or email us at info@ibandco.co.uk.
You can also read about our management accounts and strategic and business planning services.
First published 14 January 2025. Tax content checked on 9 October 2026. This article reflects the rules at the date it was first published. Where something has changed since, we’ve added an update note. Rules and rates change, so please check with us before acting.
Please note: this article is general information based on our understanding of UK tax rules at the date shown above. It is not advice for your circumstances, and tax rules and rates can change. Please speak to us before acting on it.
Ishmael Bangura FFA
Ishmael Bangura FFA is a qualified tax adviser and Fellow Financial Accountant with a finance degree and about 15 years’ experience, including earlier corporate roles. He has helped more than 950 clients. IB&Co Accountants is regulated by the IFA and IPA. IB&Co is based at Level 37, 1 Canada Square, Canary Wharf.
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