MANAGEMENT ACCOUNTS

Credit reports with validated monthly management accounts

In this risky economic environment, don't you wish you could make credit decisions on your business customers based on up to date financial data? Our recent survey shows 91% of Credit Managers agree that up-to-date validated management accounts are of real value (valuable or very valuable) when making credit decisions. Graydon's customers are the first in the world to start seeing validated monthly management accounts on businesses incorporated into their credit reports, thanks to CreditPal, a service provided by Future Route.

CreditPal, in association with various partners including Coface, Graydon and others, will enable SMEs to upload their management accounts securely and send on financial extracts to Graydon's credit database. Access to this data is strictly controlled with the permission of the SME submitting the accounts. If you wish to have access to validated and standardised management accounts read more about the Management Accounts Sharing Groups and how these can benefit you.

Small and medium sized enterprises (SMEs) in the UK are able to use CreditPal to achieve greater influence over the information provided about them to prospective creditors by credit reference agencies. This will help increase their access to both finance and credit insurance cover which has been hit hard during the current economic downturn. SMEs are able to upload their monthly management accounts via relevant partner initiatives that support the concept of Management Accounts Sharing Groups.

Companies using the service will benefit as assessments made of their financial strength and viability by banks, credit insurers, factors, suppliers, invoice discounters and ratings agencies will be based on validated up-to-date monthly management accounts.

This also means that UK companies will no longer be obliged to rely solely upon historic annual statutory accounts filed at Companies House, which have until now been used by providers of finance and credit as the main basis for assessments of companies’ strength and viability.

Whilst this historical financial trend information plays an important part in credit scoring, the use of up to date validated monthly management account information will significantly enhance the quality of credit decision making.

Graydon shortlisted and commended for the Most Innovative Product Award

We are delighted to confirm that Graydon was shortlisted and commended for the Most Innovative Product Award at the Business Moneyfacts Awards 2010 and received commendation at the awards ceremony on 25 March ... Read more.

Sample Level 3 Credit Report (unincorporated business) with management accounts (pdf).

Sample Level 3 Credit Report (limited company) with management accounts (pdf).

Factsheet - Level 3 Including Management Accounts (pdf).

Download Frequently Asked Questions (pdf).

To learn how validated management accounts can be accessed by you, the credit manager, please read more about the Management Accounts Sharing Groups or contact our team at Graydon.