Management accounts pack (monthly)

What the management accounts pack (monthly) does

Owners need numbers in time to act. Enter each month's revenue, cost of sales and overheads, and the cash, debtors and creditors at month end, and the pack works out the gross profit, the net profit and the margin for every month, the working capital and the year-to-date totals, with charts, so you can read the state of the business in a minute.

Who it is for

Owners, finance managers and accountants who prepare monthly reports for management, banks or investors.

How to use the workbook

1. Enter revenue, cost of sales and overheads for each month.
2. Enter the cash, debtors and creditors at month end.
3. Read the profit, the margin and the working capital.
4. Compare each month with the last and with your budget.
5. Save a copy under a new name for each month or year, so earlier records stay as they were.

What is inside

• Gross profit, net profit and margin for every month
• Cash, debtors and creditors with working capital
• Year-to-date totals at the top
• Room for all twelve months
• Chart of net profit by month

The workbook has these sheets: Instructions, Months, By month. The main table has the columns Month; Revenue; Cost of sales; Gross profit; Overheads; Net profit; Net margin; Cash at bank. Yellow cells are for you to fill in and grey cells calculate by themselves, so leave the grey cells alone. The example rows show how it works; type over them with your own entries.

Tips for getting it right

• Close the month before you fill this in.
• Use the same definitions every month.
• Write a short comment on any big change.
• Compare with the budget and with the same month last year.

Why keep this record

Accounting records let you answer three questions at any time: what came in, what went out and who owes whom. Kept consistently they also make tax returns, loan applications and the sale of a business much easier, because the evidence is already organised. Entering transactions the day they happen is far cheaper than reconstructing them at year end.

Questions people ask

Do I need to know Excel formulas? No. Type into the yellow cells and the rest is worked out for you. The formulas are visible if you want to see how a figure is reached.

Can I add rows or change the layout? You can add your own columns to the right and your own notes. If you insert rows inside a table, copy the grey formula cells down so the new rows calculate too.

Will it work on my phone or in Google Sheets? Yes for viewing and typing, but dropdown lists and the charts look best in desktop Excel or LibreOffice.

Keeping it safe and up to date

Good accounting records are a legal duty as well as a management tool: keep the supporting receipts and invoices with the workbook, and keep each year's copy for at least five years. Work on a copy, never on your only file, and back it up.

Read how to keep business records for KRA for the wider picture. See more accounting templates or ask us for a custom one.

The workbook works in Microsoft Excel, LibreOffice and Google Sheets. It is a tool to help you work out and record figures, not tax, legal or accounting advice, and it is not affiliated with the Kenya Revenue Authority. If something does not work as described, contact us and we will put it right.

Related guides, calculators and templates

• Guide: How to keep business records for KRA: what to save and for how long
• Guide: Bank reconciliation step by step: match your books to your bank
• Guide: Fixed assets and capital allowances explained for small businesses
• Another template: 13-week cash flow forecast
• Another template: Accounting policies and procedures manual template
• Another template: Accounts payable ageing schedule

Need something different? Request a custom template, browse all guides or see every Excel template.