top of page
  • benay303

Benay Informer 02/27/2023

A Financial Wellness DO: Monthly Reports Review

Every day you show up to excitedly do the things that keep your business unique, moving forward, and even growing. From helping customers, providing feedback to your staff and planning your next move, to brainstorming new ideas and forecasting trends. This is your vision, and these are your must-dos to make it the best it can be.

With all you have going on we know you are busy, and your schedule is full. If you think skipping a regular financial review in favor of one of your must-dos as a time saver, you might want to think again. Even if you have the most stellar financial team, setting a regular monthly meeting for YOU to review the numbers is imperative for your success. Trust but verify is one of our favorite sayings and it has served us well. It will for you too! So, whether you choose to review the numbers with your team at the office or solo with your fuzzy slippers on and a cup of your favorite pick me up in hand, it just needs to get done.

We find the easiest way to ensure your review time actually happens each month is by putting it on your calendar as a recurring meeting with yourself. While you have your calendar in front of you, go ahead and adjust the recurrence setting to continue over the next few years. After all, this will soon become something you look forward to once you see and feel the benefits.

Many people find success in business by relying on their gut instincts to make decisions. Though this plays a significant role in the creative and service part of your organization, monetary and fact-based choices are best made with your actual monthly numbers in front of you.

Each report should provide clear information you can use to analyze and consider the health of your pricing practices and costs of goods sold inputs, the effectiveness of your marketing promotions, staffing and outside labor costs, and where you are in your planned trajectory for growth. Looking at them as a whole will empower you to make decisions regarding subsequent purchases, when to leverage and when to repay debt, and where your strongest assets reside.

Must review monthly financials:

  • Profit and Loss (aka Income statement)

  • Balance Sheet

  • Cash Flow Statement

  • Accounts payable and receivable

Like a map leading the way to your next destination, your financial reports can and will lead you to the state of success you want to be in with your company. You can make them incredibly detailed or a brief overview, but you need to see them regularly! Knowing the details and status of your company finances allows you to avoid pitfalls and plan as best as possible for unforeseen events, and hopefully keeping a positive cash flow. If you are unsure what your reports mean or would like a second opinion, the experts at Benay are happy to help you. Reply here or schedule a time on my calendar to discuss your specific needs and goals.

Cheers to your success, Dawn


Links to improve your work life.

Quick – plan a road trip!

We love reporting good news. Surprisingly, the jobs report has been on that list recently.

Celebrating success where we find it welcomes good vibes into your workspace, too. Congrats to airbnb on their growth.

What would you do with your lotto winnings?

Everything old becomes new again… think these terms might come back around?

Would your employees vote for your company as a “best place to work”?

Some people are incredibly inventive—this home has style and it is the ultimate up-cycle too!

If you live in one of these cities, perhaps working from home is NEEDED.

How we spend money can reveal an existential struggle about what we find valuable in life, who we want to spend time with, why we choose our careers, and more.

Who runs the world? Girls!

Meet the famous females who defied the odds, broke boundaries and continue to pave the way for future generations.

If your company had a fragrance, what would it be?


"If you don’t like something, change it. If you can’t change it, change your attitude.”

—Maya Angelou


2 views0 comments

Recent Posts

See All
bottom of page