The service-specific risk to address first
An attractive report with inconsistent definitions can lead management to compare incompatible numbers.
A services business should distinguish billed revenue, collections and delivery cost when reviewing margins.
Mistake 1: assuming the same rule applies to everyone
Useful MIS starts with a decision the founder needs to make, not a large dashboard.
Entity type, business activities, transaction facts and the relevant period can change the answer. Before using a checklist or a headline rule, ask which facts make it applicable to you. Verify current official requirements rather than copying an old article.
Mistake 2: sending records that do not reconcile
Prepare reconciled books, budgets, sales drivers and operational metrics with consistent definitions.
Flag mismatches and missing items before the adviser starts. Never overwrite an original record simply to make totals match. Preserve an explanation of corrections so the final position can be traced back to its evidence.
Mistake 3: confusing one task with full compliance
Specify report frequency, commentary, forecast work and the responsibility for source-data quality.
An incorporation, registration, return or report is a particular deliverable. Other permissions, recurring obligations and implementation work may remain. Ask for a written list of what the engagement does not cover.
What to do if work is already wrong
Preserve the original submission or report and ask for an assessment of the available correction route. Do not submit a duplicate application or ignore a communication without checking the consequences. Identify the issue, relevant period and supporting evidence.
Which decisions will this report support and how do its totals reconcile to the books?
Keep metric definitions, the monthly report pack and a record of agreed management actions.
How to use this resource
