Although some individuals may not be as consistent as they should, keeping up on health tends to rank high in importance.
We schedule bi-yearly dentist appointments to check for cavities, and perform routine doctor visits to track our vital signs.
But when it comes to aspects of financial health, particularly those of businesses, it can be common for individuals to neglect their daily, weekly, monthly and annual check-ups. Leave a problematic financial pickle to fester too long, however, and your company’s revenue stream is likely to suffer.
One of the most common reasons for business failure is insignificant capital and overall misguided and chaotic management.
But with the Financial Report template from MyExcelTemplates.com, business owners can effectively map, plan and review all facets to an organization’s financial health, and from a simple and clean spreadsheet.
How to Use the Financial Report for Your Company’s Revenue Assessment
With the Financial Report template, users gain access to a variety of concise, organized sections for financial mapping, including:
- A comprehensive income statement. Log specific in-house sales, marketing costs, direct labor and more through an easy-to-manipulate vehicle. Users also have the freedom to alter, or add to, specific category and description names. The Financial Report template features a series of five separate tabs, differentiated by specific year and quarter.
- A ratios report tool for effective comparing and assessment. Leverage sales figures, operating expenses and miscellaneous revenue factors through a single, easy-to-use vehicle.
- An overarching sales composition chart. Assess your company’s financial streams from a more visual perspective.
- A predictive trend chart. Review your company’s individual revenue and expenses, all while strategically mapping for the future.
Tips for Gauging an Accurate Financial Report for Your Business
- Thoroughness is key. Make sure to accurately log in all short-term, long-term, fixed and variable expenses into your financial report.
- Don’t forget the small expenses. Although certain smaller expenses might seem insignificant at first, if left unchecked, they can wreak havoc on your statement.
- Ensure you’re weighing in variable expenses, like interest and loans.