What is monthly financial reporting?
Monthly financial reports give managers and CFOs a clear picture of the previous month’s financial situation. This allows them to evaluate future plans and choices and have up-to-date reporting on the cash management, profit, and loss statements.
Why should you use the CFO monthly report template?
CFOs are strategic business partners and play an essential role in ideating and implementing business strategies. However, their role as a traditional CFO still remains, and they need to monitor financial KPIs and build robust and agile roadmaps for the business. This monthly financial report template overviews the critical KPIs for the finance & accounting teams. We also have an income statement template that you can use for the month.
How to use the monthly financial report template?
After downloading the Excel template, input the information in the tab named ‘data’, and you are ready to go. The report template is set for 30 days by default, but you can add data to the last row and customize it for 31 days.
FAQs
1) What are the KPIs CFOs need to track in the monthly reports?
Some important metrics CFOs need to track are:
- Revenues
- Net profit
- EBIT
- Accounts Receivables
- Accounts Payable
- AR turnover ratio
2) Why should you download our financial reporting template?
CFOs need to track multiple KPIs and prepare the income statement during the month-end close. This template allows you to do that as well as visualize the data in the form of graphs and charts.
3) How can I use the insights from this Excel-based monthly report template?
The graphs in the template give a view of the distribution of operational expenses and revenue of that month. You can use it to identify areas to optimize, reduce costs, and increase profits.
