This morning I got to the office for around 8:30am. After having some breakfast and a morning brew provided by Equilibrium, I am ready for our morning huddle. We have this every Monday morning and it’s a good opportunity to have a catch up with the team and have a brief chat about what we did over the weekend. Following this we get to work and set a plan of action for the coming week.
After the huddle I updated our banking tally which shows the income we received and allocated this to our client and accountancy systems.
By late morning I started the month end activities. We aim to have all month end activities completed by the fourth working day of the following month.
Firstly, I updated our prepayments register. I had to ensure that all costs were included and that my prepayments report reconciled and agreed to what was on our accountancy system. Usually if there are any differences or unexpected items, I investigate these and correct accordingly, but this month all costs agreed with no differences.
After lunch I updated our fixed asset register. This involved updating any additions or disposals for company fixed assets and posting the depreciation charge for the month.
After work I went to the gym and did some studying for my accountancy qualification.
Today I continued with my month end activities and updated the accruals report. This is a longer task compared to the prepayments and fixed asset register reports I did yesterday.
For lunch I had a jacket potato with tuna and a banana and went on a walk to the shops nearby to get some fresh air.
As the accruals report involves looking at all areas of the company this took me well the majority of the day. By the end of the day I am ready to post these figures so that our Financial Controller can run the management accounts report.
Whilst the financial controller was working on producing the full management accounts, I did a bank reconciliation for Equilibrium Asset Management accounts. This helped ensure that all monthly activity from our bank account to our accountancy system was consistent and correct. Usually if there are any missing items or differences, I will investigate these.
After lunch I did this for Equilibrium Investment Management too, so that by late afternoon the company group bank accounts have been fully reconciled.
After this the draft management account numbers are available, and I am able to look at the profit and loss statement to see what variances there are.
As I only had a brief look at the profit and loss numbers at the end of the day yesterday, I had a look at these again today and jog my memory. Upon looking at these I was able to make a start on the management accounts commentary.
During mid-morning I had a massage from a masseuse who visits Equilibrium regularly. This is provided by the company and allowed me to get away from my desk for 10 mins and relax.
After lunch I continued with the management accounts commentary. This commentary detailed the key variances from the budget to actuals on the profit and loss statement and the reasons for this. After proof reading this I provided this to the financial controller to be included in the final management accounts.
With my main month end activities for the management accounts done, I now complete other job roles such as updating and allocating income we have received over the past few days. I also have a checklist to update and amend any requests on our client system as requested by the Client Managers.
After lunch I do a balance sheet reconciliation. I record and investigate any differences and take the appropriate actions to amend these.
The week felt like it went quick but was productive. Now it is time to go and enjoy the weekend!