Financial Reports

I like to work closely with my clients as partners to provide insight and assistance into the financial management, process and control of their business. Having financial reports on a regular basis helps you make better informed and timely decisions around your business finances and enables you to be prepared to apply for credit should the need arise.

Financial Reports provide an overview of your business’ financial condition in both the short and long term. Your monthly reporting package will include:

  • Income Statement: showing the revenues, expenses, and profit for the specific month and year-to-date compared with the same period in the prior year so that you can track how profitable you are.
  • Balance Sheet: showing you the cash available, accounts receivable, inventory balances, fixed assets, accounts payable, HST payable, source deductions payable, taxes payable, bank loans, shareholder loans, and retained earnings.
  • A/R Aging: detailed report showing which customers owe money and how old the balances are so you can know what deposits to expect and what potential delinquent accounts are on the horizon.
  • A/P Aging: detailed report showing which bills are unpaid and when they are due so that you can know your pending commitments.
  • Bank Reconciliation: detailed report showing which deposits and cheques have gone through the bank during the month and what cheques remain outstanding. It reconciles the banks records with your records to be sure all relevant transactions have been recorded.