Reports Quick Reference Guide

Q:  What Reports should be running each month?

A:  There are 3 main reports you should review each month. We call these your key Management Reports. Download the Free Quick Reference Guide as a PDF, which contains:

1.  Income Statement a.k.a Profit & Loss Report

See what you’ve earned and spent. Run this report 5 different ways:

1. Prior Completed Month
2. Compare current Year to Date Period to same period in Prior Year(s). Example:  Jan-Jun 2017 compared to Jan-Jun 2016
3. Compare most recent completed month to prior months (up to 12 months side by side)
4. Compare Current Year total to total for Prior Year(s). Example:  2017 total compared to 2016 and 2015 totals
5. Compare to Budgeted Amounts for that period.  Actual vs Budget

2.  Balance Sheet

See what you own and owe.

1. Compare the Balance Sheet of the current period to a prior period to see the change in Assets and Liabilities

3.  Cash Flow Statement

See an overall inflow and outflow.

In addition to generating the statement for a prior period, create a Cash Flow Forecast to anticipate your future bank account balance based on expected money in and money out. This spreadsheet is part of our Break Even and Budgeting worksheet, which you can click here to get now.