The work it does
Management accounts
Assembles the monthly pack, checks it against the prior period and explains the movements before a person reads it.
What it receives, what it does, what it completes.
What the colleague receives
- The period ledger once processing is closed off
- Prior-period packs and the firm's reporting template
- Accrual, prepayment and depreciation schedules
What it does
- Rolls the trial balance into your firm's reporting format
- Recomputes recurring journals from the schedules rather than repeating last month's figure
- Compares every line to the prior period and to budget where one exists
- Drafts the commentary on material movements, referenced to the underlying transactions
What it completes
- The drafted pack in your firm's template
- A variance analysis with the transactions behind each movement
- Draft commentary for a reviewer to sharpen
What it escalates
- Movements it cannot explain from the underlying data
- Accounts where the period cut-off looks wrong
- Anything that would restate a previously issued pack
What the accountant reviews
The drafted pack, the variance analysis and the commentary. The pack reaches the client only after a reviewer signs it off.
Other work it takes on
Bank transaction matching and reconciliations
Reads the statement, matches receipts and payments to the ledger, and allocates against open invoices.
Client document requests and follow-up
Notices what is missing, asks the client for it, watches for the reply and files what arrives.
VAT preparation and working papers
Prepares VAT workings, reconciles control accounts and surfaces only the items that need professional judgement.