How to Build an Accounts Function That Just Works

Growing businesses don’t fail for lack of effort. They fail because their finance function can’t keep up. Here’s what a good one looks like.

As businesses grow, the cracks in the accounts function get wider.

Month-end runs late. The cash position is unclear. Managers can’t see how they’re performing.

And somehow, despite adding more people, buying new software, or outsourcing tasks piecemeal – the problems still don’t go away.

But it doesn’t have to be this way.

Here’s what a working, scalable accounts function looks like:

1. Daily bookkeeping – not end-of-month catch-up

Posting invoices daily means approvals keep flowing.

Reconciling the bank daily means payment runs are always accurate.

You reduce delays, avoid backlog panic, and keep the finance process moving in real time.

2. Management accounts within 10 working days

Good decisions rely on timely, accurate information.

10 working days is the sweet spot – long enough to capture the actuals, short enough to act fast.

It gives directors time to review, and managers time to take action that still impacts the current month.

3. Dashboards for every business area

Each department or location lead should be able to see the results of the area they’re responsible for.

Not just top-line sales – but gross profit, labour cost, overheads, variances, budget position.

If they can see it, they can improve it.

4. Automation does the legwork – people do the thinking

Repetitive tasks (like invoice matching, bank reconciliations, or supplier statement reconciliations) are better handled by bots.

That frees up your team to do the value-add work – spotting anomalies, managing risk, advising the board.

Smart finance functions use both – tech for efficiency, people for oversight.

5. Compliance and year-end readiness, baked in

No more “we thought the accountant was doing that.”

A good accounts function logs every deadline, handles filings, and collaborates with your year-end accountant during the year – not just after it ends.

That way, nothing slips – and your monthly accounts actually stand up to scrutiny.

You don’t need a big team.

You don’t need to do it all yourself.

But you do need a function that runs daily, reports monthly, and scales with your ambition.

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