Is this a usual request for an Accountant?

[luvbusiness]

In looking around at some businesses I see that some of their accounts are done march to march or april to april.So looking around at this time of the year about six months has passed and a lot of trading has taken place since last accounts.

Could I request that six months accounts be made up so I could see some right up to date figures.Also would I be liable for that cost and if I had to pay for an update what is the likely cost for say something like a small business.. fish and chip shop/post office etc.

Thanks

 

[TaxesClear Ltd]

yes, very common . Interim Accounts could be produced on a quarterly basis , half -year or upon a request.
the cost will depend, you need to discuss this with your accountant.

Anna

 

[MyAccountantOnline]

In looking around at some businesses I see that some of their accounts are done march to march or april to april.So looking around at this time of the year about six months has passed and a lot of trading has taken place since last accounts.

Could I request that six months accounts be made up so I could see some right up to date figures.Also would I be liable for that cost and if I had to pay for an update what is the likely cost for say something like a small business.. fish and chip shop/post office etc.

Thanks

Many small businesses will be able to produce management accounts very quickly and easily if they are using an accounting package at no cost. How much reliance you can place on them though depends entirely on how well kept the records are.

 

[KM-Tiger]

You don't necessarily need an accountant for that. As said if the bookkeeping is done in software the reports can be done at the touch of a button.

How is your bookkeeping done?

 

[Catherine Weaver]

Hi, I think somebody else mentioned accounts packages. For example if you use Sage you can produce monthly management accounts, which is what I do for some of my clients. This enables them to see how the business is progressing month by month and also highlights busy and slack periods in the year which they find very helpful.

Cathy

C Weaver Accounting Services

 

[luvbusiness]

You don't necessarily need an accountant for that. As said if the bookkeeping is done in software the reports can be done at the touch of a button.

How is your bookkeeping done?

Hi Tiger I dont have a business yet.Doing some viewings at the moment.Just have a concern that when I view their accounts most of them seem to be end April/March and we are now into August and I would be interested in seeing accounts right up to date so no six month lag and just curious as to how easy this would be and is it ok for me to ask the seller for that information...

I see some people have said on here that the information should be quite easy at hand depending on what accounting system they use...That is something I wasnt aware of..

 

[Paul Norman]

I would actually always have this kind of information monthly, in order to retain a tight handle on the business.

Of course, and rightly, that will cost more in accounting bills, unless you do it yourself, but as mentioned, uptodate, accurate bookkeeping (a good business discipline itself), will make this less difficult.