Jo brought in his first quarter VAT and asked us to do Management Accounts.
We discovered that he has been miscalculating his gross profit resulting in him making 8.3% not 18.3% as he intended. I hate being the bearer of bad news but bloody lucky that we found this four months in and not fourteen months in!
On reflection not luck; Management Accounts allow us to help clients identify problems early. Most of our best clients have Management Accounts and the correlation is no coincidence.
4 June 2013