Situations
A lender wants management accounts
If a bank or lender has asked for management accounts, here is what to do, in order.
The short answer
1. Ask the lender exactly what it wants: which period, how recent and in what form. 2. Check what you already have. 3. Ask your accountant whether they can produce them, by when and at what cost. 4. Check the figures before you send them. Each lender sets its own rules, so do not rely on what another lender asked for.
1. Ask the lender exactly what it wants
Lenders set their own rules on what they need to see. Ask:
- Which period should the management accounts cover?
- How recent must they be?
- Do you need a profit and loss account, a balance sheet, or both?
- Do you also need filed accounts, bank statements or a forecast?
As one example, Allica Bank publishes what it asks for on its business loans page:1
| Amount borrowed | Bank statements | Accounts |
|---|---|---|
| Up to £75,000 | Three months of business bank statements | 12 months of management accounts less than 60 days old, or full accounts from the last two years less than six months old |
| Over £75,000 | Six months of business bank statements | Two years of accounts, plus management accounts if the last filed accounts are more than six months old |
Other lenders may ask for something different. Check with the lender you are applying to.
2. Check what you already have
Your accountant or bookkeeper may already produce monthly or quarterly figures. Your accounting software may also produce a profit and loss report and balance sheet, but those are only as reliable as the records behind them. If your records are behind, they need bringing up to date first.
3. Ask your accountant
- Can you produce management accounts for the period the lender wants?
- By when?
- What will it cost, and is it covered by our engagement letter?
- Can you talk me through them before I send them, so I can answer the lender's questions?
If your accountant does not provide management accounts, you could ask a bookkeeper or management accountant to prepare them. See the kinds of finance support.
4. Check the figures before you send them
Make sure the figures match your bank balances and that unpaid bills and money owed to you are included. A lender may ask questions about anything that looks unusual, such as a large change from one month to the next.
5. Keep them going
If a lender asks once, it may ask again when the loan is reviewed or renewed. Some businesses find regular management accounts useful for their own decisions as well. See Management accounts: what good looks like.
Sources
- Allica Bank, "Business loans", answer to "What financial information will the company need to provide?". allica.bank/business-loans. Checked 12 October 2026. Shown as one example only.