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The Value of Accounts in Times of Crisis

Value of Accounts

Friday, 20th March 2020

With the current pandemic and potential economic crisis now is the time to take a firm grasp of where your business is at financially.

It is very likely that you will need support and financial assistance to help you through the difficult times ahead. Bills to pay, overheads, staff, wages, stock management … just to name a few of the many cogs turning in your head right now!

At Onyx, we want to ensure that you get the best advice and support available.

Let us help you with:

  • Grant funding – check your eligibility
  • Business Interruption Loans – help with the application
  • Staff management – help with payroll and SSP
  • Identify what other benefits are available

The criteria for the above is yet to be made available to us, however, one things is for sure. You will need up to date management accounts.

Why Management Accounts?

Regular management accounts are key to any business. They enable you to :

  • have control of your finances
  • identifying costly overheads
  • highlight key savings
  • key trends in profitability
  • actual profit / loss margins
  • assess areas where support is needed

all of which help to identify how to be prudent and save costs during the next few months.

Knowing your numbers will give you the advantage to accessing grants and loans quickly. Speeding up the process to ensure the funding is allocated as soon as possible to support you, your business and your staff.

Onyx have a dedicated management accounts team who specialise in producing accounts across all business types, small or medium, and have the expertise to work with all major accountancy software products.

GET IN TOUCH WITH ONYX

Not sure how management accounts will help you? Then give us a call or e-mail us at enquiries@onyxaccountants.co.uk for a FREE no obligation consultation.

Got any questions or queries? Our friendly local team are happy to help. Just drop us a line! Call us on 0121 753 5522 or 01902 759 800.