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7 Examples of Financial Reports You Can Use For Daily, Weekly, and Monthly Reports

daily, weekly, monthly financial reports examples

As a Business, you need the reliability of frequent Financial reports to gain a better grasp of your financial status both current and future. In addition to enabling you to take a proactive approach to managing your company’s finances, they help you increase long-term profitability through short-term financial statements. They communicate crucial financial information that covers a specified time period through daily, weekly, and monthly financial reports. It is a powerful tool that can be applied to increase internal business performance. It also is a great way to stay updated on any significant progress or changes in the status of your finances, and help you measure your financial results, cash flow, and financial position.

Exclusive Bonus Content: Reap the benefits of financial reports!
Download our short guide to daily, weekly and monthly reports.

Your business needs daily, weekly, and monthly financial reports to help support certain business financial objectives and enable you to provide useful information to investors, decision makers, and creditors. It can also support your business in determining:

  • If your business can effectively generate cash and how that cash is used.
  • To reveal specific business transaction details.
  • To follow the results of your finances so you can identify potential issues that are impacting your profitability.
  • Develop financial ratios that show the position of your business.
  • Evaluate if your company can pay off all of your debts.

Daily financial reports however have a limited impact, as most of the financial KPIs that are used need a mid- to long-term monitoring, and do not provide accurate information if analyzed only on a daily basis. This is why we still mention them and provide examples on what can be tracked and analyzed every day, but for a long-term view you should take a look at our weekly and monthly reports. Our monthly reports are on top illustrated with beautiful data visualizations that provide a better understanding of the metrics tracked.

Equipped with financial analytics software, you can easily produce these daily, weekly, and monthly financial reports. They will provide your business with insights it needs to remain profitable, to meet objectives, to evaluate your decision-making processes, and keep everyone in the value chain on track.

Financial Reports Powered By Business Intelligence

Financial reports are more digestible when they are generated through online data visualization tools that have numerous interactive dashboard features, to ensure that your business has the right meaningful financial data. They will give your business the ability to:

  • Track your revenue, expenses, and profitability.
  • Make predictions based on trusted data.
  • Plan out your budget more effectively.
  • Improve the performance of your processes.
  • Create fully customizable reports.

What exactly does a financial report consist of?

Balance sheet: This displays a business’s financial status at the end of a certain time period. It offers an overview of a business’s liabilities, assets, and shareholder equity.

Income statement: This indicates the revenue a business earned over a certain period of time and shows a business’s profitability. It includes a net income equal to the revenues and gains minus the expenses and losses.

Cash flow statement: Details a business’s cash flows during certain time periods and indicates if a business made or lost cash during that period of time.

Now that we have detailed a little bit about what’s included on these reports, we are going to take a closer look at specific examples of daily, weekly, and monthly financial reports and the financial KPIs associated.

Daily Financial Report Examples and KPIs

A daily financial report is a great way to track the previous day’s activities that have an impact on your financial status. It can keep you apprised of all the requisite data management used to track and measure potential staff errors, internal production, and revenue loss. As we mentioned above, these reports provide a limited vision, but you can use the examples beneath to see how some daily actions on problematic factors can impact your final results.

Tracking Potential Staff Errors

Maintaining an efficient, productive work environment, and ensuring that you can identify any employee discrepancies or issues is critical to being proactive about business growth. Monitoring employees working hours and productivity levels can help you detect potential staff errors quickly, control these errors, and avoid negative impacts on your financial results at the end of the day, and ultimately, the month.

Real-time management live dashboards offer clear visuals regarding employee management processes with the following metrics and KPIs:

Organizational Performance: These are key metrics for tracking and evaluating some factors impacting your performance.

  • Employee Overtime: Overtime per Employee = Total Overtime Hours / FTE
  • Absenteeism: Number of employees absent today

Work Quality: These metrics help companies determine the quality level of their employees’ work performance.

  • Amount of errors
  • Product defects

Work Quantity: These metrics indicate the employee performance related to quantity, such as sales figures, or the number of codes a programmer can create in a given amount of time. Quantity does not of course mean quality, but on monitored daily, it can reveal bottlenecks or under-production problems.

  • Sales Numbers: amount of client contacts, number of calls an employee makes, amount of active sales leads.
  • Units Produced: lines produced during coding, number of keys a nurse receptionist can hit per minute, etc.
  • Customer Handling Time: how many customer calls are answered during a specific time period, for example.

Measure Revenue Loss

By tracking staff errors, you can track the money it costs your company (having a problem in production, finding the problem and fixing it), which will inevitably end up in your financial statements, as the money you lost. Tracking revenue loss can be especially beneficial for those companies with customer accounts or recurring revenue. A daily financial report helps businesses quickly monitor revenue-related factors, so they can increase their revenue. Revenue loss can also originate from one-time purchases, customers who move to your competitor, or customers who move out of the area. Metrics used to measure these factors can include:

  • Number of daily transactions
  • Average gross margin
  • Average cost per order

You can also be more specific about your revenue loss: categorizing where you lost what is a good practice to identify which parts of your business have an important room for improvement. Tracking metrics like the top 10 products generating most revenue, or on the contrary the top 10 products generating the worse revenue will tell you a story about what needs more attention.

The revenue loss can also come from discount or sales, for example. Monitoring on a daily basis which promotions are getting “too” popular can help you stop it before it generates more revenue loss than revenue growth was supposed to create.

Weekly Financial Report Examples and KPIs

These reports can help your business monitor all your short-term financial activities in weekly increments. It should be created and reviewed each week and provides a comprehensive look at the short-term performance of your business.

Operating Cash Receipts, Disbursements, Balance

Part of a business’s budgeting process may include cash receipts and disbursements, which uses actual data for cash collection to design a budget, or create income statements, for example. Weekly financial reports can help companies gain insights from accurate reporting based on using cash receipts and disbursements. Metrics and KPIs can include:

Cash Flow Report: indicates the changes in cash versus its fixed counterparts, such as exactly where cash is used or generated during the week.

  • Operating Activities: measures a business’s operating cash movements, whereby the net sum Operating Cash flow is generated.
  • Financing Activities: tracks cash level changes from payments of interest and dividends, or internal stock purchases.
  • Investing Activities: tracks cash changes derived from the sale or purchase of long term investments, like property, for example.

Operating Activities: indicated any activities within a business that affect cash flows, such as total sales of products within a weekly period, employee payments, or supplier payments.

  • Direct Method: This metric obtains data from cash receipt and cash disbursements related to operating activities. The sum of the two values = the Operating Cash Flow (OCF).
  • Indirect Method: This metric uses the net income and adjusts items that were used to calculate the net income without impacting cash flow, therefore converting it to OCF.

Any Generated Current Receivables

Weekly financial reports can help businesses stay on top of invoicing, billing procedures, cash basis of accounting, accounting records, and ensure that they don’t fall behind on being paid for services and goods that are owed to you from customers or suppliers. Weekly financial report metrics and KPIs include:

  • Days Sales Outstanding (DSO): This measures how fast your business collects money that you’re owed following a completed sale.
    DSO = (Accounts receivable / total credit sales) x number of days in period.
  • DSO vs. Best Possible DSO: Aligning these two numbers indicates collection of debts in a timely fashion.
    Best Possible Days Sales Outstanding = (Current receivables x number of days in a week) / weekly credit sales.
  • Average Days Delinquent: Indicates how efficient your business processes are in your ability to collect receivables on time.
    ADD= Days Sales Outstanding – Best Possible Days Sales Outstanding
Exclusive Bonus Content: Reap the benefits of financial reports!
Download our short guide to daily, weekly and monthly reports.

Monthly Financial Report Examples and KPIs

This is a great way to obtain an overview of the previous month’s financial status to have an up-to-date reporting, and evaluate plans and decisions moving forward.

To help you better understand how you can benefit from financial visualizations, we are going to provide some specific monthly financial report templates and KPIs.

Cash Management Financial Report Template And KPIs

Monthly Financial Report template : cash management dashboard

**click to enlarge**

Our first monthly financial report example provides you with a quick overview of your liquidity and current cash flow situation.

Current Ratio: Core indication of a business’s short term financial health, as well as indicating if you’re promptly collecting Accounts Due.

  • This metric is measured by dividing debt and accounts payables by cash inventory and accounts receivables.

Accounts Payable Turnover Ratio: This shows how quickly your business pays off suppliers and other bills. It also shows the number of times your business can pay off average accounts payable balance during a certain time period.

  • For example, if your company purchases 10 million of goods in a year, and holds of an average account payable of 2 million, the ratio is 5.
  • A higher ratio shows suppliers and creditors that your company is on top of paying its bills.

Accounts Receivable Turnover Ratio: Measures the amount of times that your business is able to collect average accounts receivable, and indicates your effectiveness on extending credits.

  • A low accounts receivable turnover ratio basically indicates that you might need to revise your businesses credit policies to collect payments more quickly.

Profit and Loss Financial Report Examples And KPIs

Monthly financial report template for top-management

**click to enlarge**

Our second monthly financial report gives a clear overview of the income statement, from the revenue earned to the final net profit, the whole being enhanced by relevant performance ratios.

Gross Profit Margin: This enables your business to measure and track the total revenue minus the cost of goods sold, divided by your total sales revenue.

  • This KPI is a crucial measurement of production efficiency within your organization. Costs may include the price of labor and materials, but exclude distribution and rent expenses.
  • For example, if your gross profit margin was 30% last year, you would keep 30 cents out of every dollar earned and apply it towards administration, marketing, and other expenses.

Operating Profit Margin: It allows your business to monitor how much profit you are generating for each dollar of revenue. This metric is also referred to as “EBIT”, for “earnings before interest and tax”.

  • This metric measures how profitable your business model is and shows what’s leftover from your revenue after paying for operational costs.
  • It doesn’t include revenue earned from investments or the effects of taxes.

Operating Expense Ratio: It indicates the operational efficiency of your business through comparison of operating expenses and your total revenue.

  • Essentially the lower your operating expenses the more profitable your business.
  • These KPIs are particularly helpful to benchmark your company against other businesses.

Net Profit Margin: Measures your business’s profit minus operating expenses, interest, and taxes divided by total revenue.

  • It’s one of the most closely monitored financial KPIs. The higher the Net Profit Margin, the better.

Financial Performance Report Template And KPIs

Monthly Financial Report template: a balance sheet is a good overview of the assets and debts of your company at a specific moment

**click to enlarge**

Our last monthly financial report template provides you with an overview of how efficiently you are spending your capital, while giving at the same time a snapshot of the main metrics on your balance sheet.

Return on Assets (ROA): Shows how profitable your businesses are compared to your total assets. Assets include both debt and equity.

  • This is a critical metric to any potential investors because it shows them how efficiently management is using assets to generate earnings.

Return on Equity (ROE): Calculates the profit your company generates for your shareholders. It is used to compare profitability amongst businesses in the same industry.

  • This is measured by dividing your business’s net income by your shareholders equity.
Exclusive Bonus Content: Reap the benefits of financial reports!
Download our short guide to daily, weekly and monthly reports.

Comprehensive Reports for the Complete Financial Story of Your Business

Financial reports help your business obtain a clear, comprehensive overview of where your company is at, and where you should plan on going. When augmented with crisp, easy-to-read visualizations in the form of financial dashboards, your business can quickly comprehend and accurately measure critical components of your financial status over specified time periods.

Daily, weekly, and monthly reports can also help you answer critical questions, such as what can your business do with an extra $500k in cash? Will you be able to borrow less money, invest in a new technology, or hire trained personnel to improve your sales?

Using datapine’s seamless finance BI 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. Wait no more and try it out for free today, by registering for our 14-day free trial here!

The post 7 Examples of Financial Reports You Can Use For Daily, Weekly, and Monthly Reports appeared first on BI Blog | Data Visualization & Analytics Blog | datapine.

This post first appeared on Data Visualization & Analytics Blog | Datapine, please read the originial post: here

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7 Examples of Financial Reports You Can Use For Daily, Weekly, and Monthly Reports


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