What to Review in Your Business Each Month

A monthly review helps you understand what happened in your business before too much time passes.

Start by checking how much money came in during the month. Compare it with recent months and look formajor changes.

Next, review how much money went out. Identify large purchases, increased costs, unusual charges, andrecurring payments.

Check which customers still owe money and which business bills remain unpaid.

You should also confirm that your records match your bank and credit card statements. Differences may becaused by missing transactions, duplicate entries, bank fees, or payments that have not cleared.

A useful monthly review answers questions such as:

• Did income increase or decrease?

• Which expenses changed?

• Are customers paying on time?

• Are bills being paid by their due dates?

• Is enough money being saved for taxes?

• Does the available cash cover upcoming needs?

The purpose is not only to organize records. It is to understand the current condition of the business and notice problems early