Summer finance admin check
02.07.2026As summer arrives, it's easy to slip into holiday mode. Staff are taking annual leave, advisers are meeting clients before the summer break and finance tasks can quickly get pushed down the priority list.
But while the pace might feel a little slower, now is one of the best times to get your financial admin in order.
For directly authorised IFA businesses, using the quieter summer months to review your payroll, bookkeeping and FCA RegData reporting can make a huge difference later in the year. Instead of rushing to prepare reports when deadlines are looming, you can head into Q3 knowing your records are accurate, organised and ready to go.
Why summer is the ideal time for a finance health check
The second half of the year often becomes much busier. Client activity picks up after the holidays, year-end planning begins and reporting deadlines seem to come around faster than expected.
Spending a little time now reviewing your financial records can help you:
- Spot bookkeeping errors before they become bigger problems
- Make sure payroll records are accurate and up to date
- Confirm adviser and staff details are correct
- Check income, expenses and charges have been recorded correctly
- Reduce the stress of completing your next FCA RegData reporting return
Rather than trying to fix issues at the last minute, you'll already have confidence that everything is in place.
Payroll and bookkeeping go hand in hand
Payroll doesn't just affect your employees. It also feeds into your wider financial records and reporting.
Before heading into Q3, it's worth checking:
- Employee records are current
- Any staff changes have been updated
- Director salaries and pension contributions have been entered correctly
- Payroll journals have been posted accurately
- Your bookkeeping matches your bank accounts
Keeping on top of these tasks throughout the year makes future reporting much simpler and gives you a clearer picture of your firm's financial position.
Don't leave FCA RegData reporting until the deadline
One of the biggest challenges businesses face is trying to prepare FCA RegData reporting returns using incomplete or outdated financial information.
When bookkeeping has fallen behind, preparing your RMAR return can become a time-consuming exercise involving spreadsheets, missing figures and plenty of manual checking.
A much easier approach is to keep everything up to date as you go.
With accurate records already in place, generating your return becomes far quicker and less stressful.
How MyRegData makes FCA RegData reporting easier
MyRegData has been developed specifically for directly authorised IFA firms, bringing cloud bookkeeping and FCA RegData reporting together in one easy-to-use system.
Instead of switching between different pieces of software or manually compiling information, everything you need is stored in one place.
MyRegData includes:
- Complete FCA RegData reporting for RMAR Sections A-K, Complaints Reporting and FIN073
- Built-in cloud bookkeeping to keep your financial records organised throughout the year
- Free accountant access for easier collaboration
- Guided reporting designed to simplify the reporting process
- Software support included with your annual licence
Once your business has been set up and trained, most businesses can complete their RegData return in under 30 minutes.
Prepare before you report
Successful FCA RegData reporting starts long before submission day. Before generating your report, it's important to make sure your staff and adviser records are accurate, your bookkeeping is fully up to date and your charges and income have been reviewed. It's also worth checking that your business settings are current and that your financial records reconcile correctly. Taking the time to complete these checks can reduce errors, minimise delays and make submitting your return much more straightforward.
If you'd like extra guidance, take a look at our dedicated Preparing the RegData Report guide , which walks you through the key checks to complete before creating your report. One-to-one training sessions are also available to help you navigate MyRegData and complete your reporting with confidence.
Set yourself up for a smoother Q3
Summer is the perfect opportunity to catch up on the admin that often gets pushed aside during busier periods.
By reviewing your payroll, keeping your bookkeeping up to date and using software built specifically for FCA RegData reporting, you'll be in a much stronger position heading into Q3.
Rather than facing reporting deadlines with a backlog of financial admin, you'll have organised records, greater confidence in your data and a much faster reporting process.
If you're looking for a simpler way to manage bookkeeping and FCA reporting together, get in touch to find out more about how MyRegData helps keep everything in one place, saving valuable time throughout the year, not just when reporting deadlines arrive.
Sign up for a free trial today and see how our cloud accounting software can benefit your business.
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