How are you able to figure out how well or not so well your company did for the last fiscal month. Do you only use the bank statements, bookkeeping system, or are your products or services based on customer surveys and reports of satisfied customers? Monthly financial documents are a great way for business owners to review the month from a financial standpoint and see what business decisions they could make for the next month in order to do better than the previous month. Maybe when looking at these reports you’re able to see that you spent too much money on marketing, not enough on supplies or just the right amount on food without having any waste. These reports also offer a summary of what you owe and what customers owe you so that you may start to notify customers that they are late on payment. Make these decisions as a business owner because you have accurate knowledge.
