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Bookkeeper Radio: Management Reporting

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Chatting with a bookkeeper recently about their Management Reporting offering for clients, we asked “why she had gone down this route”? Her reply: “it just makes sense”. She explained as bookkeepers we spend a lot of time periodically reconciling and tidying up our clients accounting file and it seemed a waste if the only output was a quarterly/monthly BAS. We already have the data, with a slight increase in time, we can provide our clients with valuable insights into their operations.

The benefits of bringing management Reporting services to our clients are obvious. With an understanding of up-to-date financial performance and key financial drivers, business owners will make better decisions and run more profitable businesses. So why are they not engaging with any meaningful Management Reporting? Many are simply too busy or lack the financial skills to stop and evaluate financial performance, yet most would claim they are vitally interested in how their business is going. That doesn’t make sense.

The benefits to our own bookkeeping businesses in rendering Management Reporting services to our clients are also clear: happy and engaged clients, stronger client relationships, increased profit, and more rewarding work. That does make sense.

In this episode of Bookkeeper Radio, we chat with our special guest Andrew Erkins who runs an integrated bookkeeping practice and who has successfully integrated Management Reporting as a standard business offering of their practice. We talk about the approach adopted and provide some valuable hints to bookkeepers looking to commence or more fully develop their client Management Reporting service offerings.

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17 Nov 2022
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