Louisville, KY - 5 Financial Reports Every Business Owner Should Review Monthly

Most business owners don’t need to become accountants. But if you’re not checking your key numbers at least once a month, you’re flying blind. And in today’s economy, blind doesn’t cut it.

At Chamberlain and Good Company, we work with Louisville businesses to keep the books in shape and make sure you understand what the numbers are telling you. Here are five reports we believe every business owner should be reviewing on a regular basis.

1. Profit & Loss Statement (P&L)

Also called the income statement, this report shows what you earned and what you spent. It breaks down revenue, cost of goods sold, operating expenses, and net income so you can see if your business actually made money or just stayed busy.

It’s one of the most straightforward tools to understand business health at a glance. Done monthly, it helps you catch issues early and spot patterns over time.

2. Balance Sheet

This report gives you a snapshot of what your business owns, owes, and is worth. Assets, liabilities, and equity are all in one place. While it’s easy to overlook, the balance sheet gives you a solid foundation for understanding financial stability and whether your company is getting stronger or just spinning its wheels.

3. Cash Flow Statement

Revenue and profit are great, but if cash isn’t moving the right way, you’ll feel it. The cash flow statement shows how money is actually coming in and going out. It’s especially important for businesses with fluctuating sales, seasonal income, or high inventory costs.

4. Aged Accounts Receivable

This report shows who owes you money and how long those invoices have been sitting. Reviewing this monthly keeps collections from falling through the cracks. It also gives you leverage to adjust terms, follow up sooner, or spot risky customers before it becomes a bigger issue.

We make sure your receivables are tracked cleanly so you’re not leaving cash on the table.

5. Budget vs. Actuals

How did your business perform compared to what you expected? This report helps you see where things went better or worse than planned. It’s a powerful tool for adjusting course, updating forecasts, and making more realistic plans for the months ahead.

If you’re not working from a budget yet, don’t worry; we’ll help you build one.

Chamberlain and Good Company Can Take the Guesswork Out of Your Financials

If you’re not sure where to start or you’re tired of looking at spreadsheets, we are ready to help you. Reach out today. We’ll help you build a monthly financial review that keeps you in control.