‹ Return to list

How Do I Create Monthly Financial Reports?

Greg Swanson

Wondering how do I create monthly financial reports for your business? It’s easier than it sounds and helps you stay on top of profits, expenses, and cash flow.

Quick answer: To create monthly financial reports, gather your income and expense records, generate a profit and loss statement, a balance sheet, and a cash flow report, then review them for insights.

Start with the Right Reports

Profit and Loss Statement (P&L): Shows your revenue, expenses, and net income for the month.
Balance Sheet: Lists your business assets, liabilities, and equity at month’s end.
Cash Flow Report: Tracks how money moves in and out of your business.

Gather Your Data

Use Accounting Software: Tools like QuickBooks or Wave make it easy to organize your numbers.
Check for Accuracy: Reconcile bank statements and fix any errors before generating reports.
Include All Income and Expenses: Don’t leave out small charges or deposits—they add up.

Analyze and Share the Results

Spot Trends: Compare this month’s numbers to last month’s or last year’s.
Make Adjustments: Use your insights to plan smarter budgets or spending cuts.
Share with Stakeholders: Send reports to partners, investors, or advisors to keep them informed.

Consistent monthly business reporting gives you a clear picture of your financial health. Whether you're prepping financial statements for small business funding or just want better control, monthly reports are essential.

Updated: August 11, 2025

What are the key parts of a monthly financial report?

Key parts include a profit and loss statement, balance sheet, and cash flow report showing income, expenses, assets, and liabilities.

What tools can I use to create financial reports?

You can use accounting software like QuickBooks, FreshBooks, Wave, or even Excel to organize and generate reports.

Do I need an accountant to make monthly reports?

Not necessarily. With the right tools and basic knowledge, you can create your own reports. But an accountant can help with accuracy and advice.

How often should I review my financial reports?

Review your reports every month to monitor business health, track changes, and make informed financial decisions.