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Do you have monthly financial meetings?

Created on 18 Sep 2015 | Last updated by Nick Viet on 25 Nov 2020 05:18 AM (5 months ago)

It is important to have monthly meetings to get an overview of where the company finances are throughout the year.

Since different people need to report for different sections, it's a good idea to split this into 2 meetings.

In this meeting, key staff members should review the past month and look at forecasts for next month. 

Here is a sample agenda:

Pre Meeting:

  1. Reconcile invoicing system with the Accounting system
  2. Print Monthly Profit and Loss Report
  3. Print YTD Profit and Loss Report
  4. Print Monthly Profit with graph
  5. Complete and print current cash position and include the previous signed version
  6. Review invoices that should be canceled or removed
  7. Fix any invalid data
  8. Print Monthly Receipts Report
  9. Print Invoices vs Receipts by financial month
  10. Print Expenses by Financial Month Report
  11. Print Snapshot Report - Monthly and Cumulative Data
  12. Print Profit and Loss Return % Report

Note: the pre-meeting section should be done the day before meeting #1, and a lot of it can be delegated to admin employees

During meeting #1:

  1. Review Sales reports
  2. Review billable leaderboard
  3. Review utilization report for the month

Note: It's a good idea to record a quick summary of this meeting so people in Meeting #2 know the executive overview.

During Meeting #2:

  1. Review Cash Position
  2. Review revenue by client
  3. Review monthly invoices and receipts
  4. Review monthly profit with graph
  5. Review monthly expenses
  6. Review monthly profit and loss
  7. Review trends year on year
  8. Review trends profit contribution %
  9. Review profit and loss return %
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