Management Reporting Best Practices & Report Examples

balance sheet

This allows managers to efficiently plan their strategies based on the expected costs and revenues. The dashboard also provides a breakdown of each of these metrics to analyze each element in detail. For instance, by looking at the past 6 months of the revenue breakdown chart we can see that this business has not been reaching the forecasted amount which means something might be going on that needs to be looked at. On the other hand, we can see that costs for marketing are slightly higher than expected which can also be something to look into and see if these costs are justified. Use this accessible annual financial report template to communicate your company’s year-over-year financials at a high level.

Since managers and CEOs have busy schedules, it’s easy for them to get lost in numbers that provide little to no reference or explanation from the start. Keeping an eye on your finances is critical if you want to run a successful business. Some of the metrics you can visualize are churn rate goal, customer churn rate, gross volume, revenue churn, and customers. This is where the Xero Profitability Overview Dashboard can come in handy.

  • Marketing & Creative Management Manage campaigns, resources, and creative projects at scale.
  • To help you understand how you can benefit from all of this, here are 5 monthly report examples, complete with explanatory insight and a deeper insight into their respective KPIs.
  • Online KPI reporting software is a great asset for your business, as they offer real-time updating capabilities, saves money, and reduces waste.
  • However, many entrepreneurs try to reinvent the wheel and overcomplicate this process with custom financial reports.

Below, you’ll find multiple free financial planning templates for both business and personal use. We already mentioned what cash flow statements are and why they are so important for your business. They are typically created based on the sales forecast, balance sheet components, and other estimates.

What things should the monthly financial report include?

Instead, you can get all of the data and insights you need in less time if you use report templates. Use this template to analyze your financial situation, assess your investment strategies, and determine investment goals. This worksheet can help clarify where to make changes in your current strategies and identify your comfort level with different approaches to investing. Even if you don’t have any investments, this template can provide a starting point for thinking about and planning your goals.

Even though shareholder’s equity is usually included on the balance sheet, larger companies tend to report these activities on a separate statement. Not only that, since financial reports are a legal requirement, the IRS uses them to evaluate the tax income of each individual company. Both of these organizations provide some standard guidelines but there are a few differences you will have to pay attention to when creating your financial statements.

Tips to Improve Your Accounts Receivable Turnover Ratio

Automation, on the other hand, enables users to focus on other tasks since the software updates the report automatically and leaves countless hours of free time that can be used for other important tasks. We will see a simple financial report sample created with automation in mind below in our article. To be able to effectively manage all your finance reports, you will need professional tools. The traditional way of reporting through countless spreadsheets no longer serves its purpose since, with each export, you manage historical data and don’t have access to real-time insights.

Businesses gather an infinite amount of information coming from customers, sales, marketing, and much more, and tracking everything can become overwhelming and counterproductive. Instead, pick the sources of data that you actually need and move on to the cleaning stage. Automation plays a vital role in today’s creation of company financial reports. With traditional reporting, automation within the application is not quite possible, and in those scenarios professionals usually lose a lot of time since each week, month, quarter, or year, the report needs to be created manually.

Road to Corporate Sustainability Reporting Directive (CSRD) – Wolters Kluwer

Road to Corporate Sustainability Reporting Directive (CSRD).

Posted: Thu, 09 Mar 2023 19:42:39 GMT [source]

Working from the top left to the top right and down the project dashboard in a logical format, you can see the dashboard is entirely scannable and customized for cherry-picking important metrics. Here, it’s possible to get a clear gauge of project progress, looming deadlines, budgets, and workloads by simply scanning the page. For more tips & tricks on data-efficient reporting, you can read one of our previous blog posts on how to create data reports people love to read.

Key Takeaways Management Reporting

Regardless of your sector or industry, it’s likely that your finances department is the beating heart of your entire operation. Without financial fluency, it’s difficult for an organization to thrive, which means that keeping your monetary affairs in order is essential. Your management report needs to be “clear and concise” in the words of James Khoury of Zendbox.

If you move with your perspective and discuss all objectives, management works best. Also analysis with some of the necessary recommendations and supporting statistics or projects. Using datapine’s seamless software, your business will be able to see the full financial story of your company come to life, and have a better grasp of your future financial path. A low accounts receivable turnover ratio basically indicates that you might need to revise your business’s credit policies to collect payments more quickly. Essentially the lower your operating expenses the more profitable your organization is.

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Once the time comes for creating a financial report, you can simply integrate the data you gathered in this dashboard. For example, if a customer has the right to pay for your services after 30 days, the cash flow statement will show that you only collected 80% of your invoices within the month (while you need 100% to cover the expenses). You want your financial reports to be comprehensive, understandable, and precise. This statement tracks the amount of money key stakeholders invest in the business. After dividends are released to stockholders, the retained earnings in the company change.

If you’re starting a business, this template can help you identify potential funding sources as well as necessary expenses to get your venture up and running. Similar to a budget template, you can track both estimated and actual costs, and make adjustments as needed. Identifying startup expenses can support your business planning process and help ensure that you have adequate financial resources to reach your goals.

Here, everything is geared towards striking a balance between economic value, improved financial performance, and ongoing employee satisfaction, presented in a logical and digestible format for swift decision-making even under pressure. No doubt charts are an easy idea to describe your quantitative performance. Make sure with charts where you may explain all of your measurements. In the overview, we can see that scatter plots and bubble plots will work best in depicting the relationship of the data while the column chart or histogram in the distribution of data. To learn more about a specific chart and details about each, we suggest you read our guide on the top 15 financial charts.

Income Statement

When creating an expense budget, you should include both fixed costs (rent, payroll, etc.) and variable costs . Costs such as interest and taxes can’t be completely accurate, so you are going to have to make rough estimates. Regulatory institutions examine every document that evaluates the financial activities of your company. This is why making accurate financial documentation is crucial for the well-being of your business. LearnDashboard Examples Hundreds of dashboard templates to help you start tracking performance.

While an income statement can tell you whether a company made a profit, the cash flow can tell you if it made cash. The CFS is a fundamental document for investors as it helps them understand the liquidity of a company and make informed investment decisions. As its name suggests, these statements monitor the performance of a business for the duration of a year. They can include anything from a balance sheet, income statement, CFS, as well as predictions for the coming year. Now we will look at an example of an interactive annual dashboard in the shape of an income statement comparing the actual vs forecasted performance of an organization.


Whether you’re a small, medium, or large reporting in xero , our CTO-centric management reports template focuses on minimizing technical issues, streamlining tech-based processes, improving team attrition rates, managing new developments, and more. As modern management reporting templates offer flexible 24/7 access across a multitude of devices, it’s possible to develop or evolve your visualizations and insights collaboratively on a remote basis, if required. Backed up with powerful visualizations developed with a dashboard creator, no information can stay hidden, eliminating thus the possibility of human errors and negative business impact. The image above is a management report example focusing on a SaaS business. Throughout this post, we will cover different management reporting examples for different industries and departments to help you understand the power of these modern reports.

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