2 min read
Why they help
Management accounts — a monthly or quarterly P&L and balance sheet — show a lender how the business is trading now, not how it looked at the last year end. That recent, verifiable picture supports affordability and can unlock better terms than relying on old statutory accounts alone.
What this means for your company
Keeping monthly accounts also means you spot a cash gap early and borrow calmly, rather than scrambling. Use a management-accounts checklist to make it routine and a P&L template for the numbers. Combined with open banking, current accounts make an application quick to assess and easy to trust.
What it means for you
Credicorp lends to your company, not to you personally, and takes no personal guarantee. See business loans or apply online.
Frequently asked questions
Do I legally need management accounts?
No — only statutory year-end accounts are required. But management accounts are best practice: they run the business day to day and materially strengthen a borrowing application by showing recent performance.
How often should I produce them?
Monthly is ideal for an active business; quarterly is a reasonable minimum. The point is timeliness — a lender and a director both make better decisions from last month's figures than last year's.
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Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.