Financial Month End Style 179

To have a true understanding of your communities’ finances, you need more than just a collection of monthly totals; you need to understand what your numbers mean and how to use them to answer specific financial questions. The answers are in your Month End Reports, often referred to as your monthly financials. Here’s a sample financial statement template that shows the order of how each statement works together to report the full economic position of a company beginning with the balance sheet. Close the books with less runaround. Share this sheet with your accounting team to easily manage your financial month end process and keep everyone on schedule. Use the sheet for monthly, quarterly, and annual tasks. Last but not least our financial dashboard example provides an immediate visualization of your current Accounts Payable and Accounts Receivable situation. It affords you an opportunity to quickly reflect on your current expenditures and money to be collected in order to ensure that no payments remain outstanding for too long, and similarly that payments you owe do not take you into arrears. The Balance Sheet is the last of the financial statements that you need to include in the Financial Plan section of the business plan. The Balance Sheet presents a picture of your business' net worth at a particular point in time.

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