management accounts????

JynxIRL

Hi All,

I have a suppler who I have a cash account with, this month alone i have spent five thousand pounds with them, I'm going to apply for credit with them, they will give me a 5k credit limit and I don't need to show them audited accounts just management accounts.

Anyone have a template of a management account layout? Will i need an account to do it for me or can I do it myself?

Cheers.

Bandara

JynxIRL wrote: »

Hi All,

I have a suppler who I have a cash account with, this month alone i have spent five thousand pounds with them, I'm going to apply for credit with them, they will give me a 5k credit limit and I don't need to show them audited accounts just management accounts.

Anyone have a template of a management account layout? Will i need an account to do it for me or can I do it myself?

Cheers.

i personally would tell them to sod off, there are plenty of businesses who would extend you credit after you have previously proved yourself as being a good payer.

you don't want your accounts (even management ones) in random hands. They have a cheek imo

JynxIRL

Thanks

I guess when you put it like that yeah sod them.

Axwell

In the current climate they should be glad of that kind of money coming through their books, asking you for managed accounts is ridiculous. As HT says you have already proved yourself, tell them to sod off and if they dont like it tell them you will go elsewhere. They wont be long about changing their tune.

finisklin

Thats a bit of a rich request......

Surely it depends on how important these suppliers are to you.

When importing from companies in China etc, you usually pay up front before delivery or at least 50% now and the other 50% later.

No point playing hardball if you depend on them more than they depend on you. Of course, you could bluff ...

JynxIRL

There an English suppler and one of Europe's biggest at what they supply.

My account manager could name off all the other suppliers in Ireland in the similar line of biz one by one and he's words to me were and I quote.

"I want to steal all there business and I can beat any price"

I know Irish businesses are having a hard time but I can't afford to buy off them plus the fact I'm Vat exempt with the UK suppler means I don't have to wait for my bi-monthly returns to get back Vat i would to of had to pay out.

I know this might sound like im talking $hite, but I rather do business with my Irish supplers and keep the money in the country but I just can't afford to.I actually feel guilty paying foreign suppliers because I know it wont help Irelands strugle to recover from the Big R.

Jesus theres a big rant for ya's!!

Don't feel guilty by any means.

Sometimes it just needs to be done.

byrne0f56789

Ask them exactly what they are looking for. If it's too time consuming look to deal with someone else.

swanvill

Hi,
I agree with Byrne asking what info they need exactly.

You could just give them total figure for fixed assets, current assets & liabilities. There is no need to give them details of your costs / profits of your business. All they should be concerned with is the level of your debt & your ability to pay in the future.

Regards,

Sean

http://www.accountingplusireland.com

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