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Financial Reporting and For-Profit Clients

regular financial reporting

As a business owner, what types of financial reports should I expect to receive from ARI?

Financial Reporting For Profit Clients

While each of our clients has different needs and goals, our for-profit business owners can expect the following reports as part of their monthly financial reporting package:

  • Balance sheet which details business assets, liabilities, and equity
  • Profit and loss statement detailing your company’s revenues and expenses. This includes comparisons to the prior year and year-to-date trended figures.
  • Statement of cash flow summarizes the amount of cash and cash equivalents entering and leaving the company.
    • Cash reporting: if requested, ARI will provide periodic (usually weekly) cash reports, including a list of unpaid bills, the status of bank accounts, and cash available to spend.
  • Accounts payable, if needed, including an aging accounts summary
  • Accounts receivable aging reports
  • Sales reports, as requested
  • Inventory reports, if applicable to the business
  • Additional quarterly reports highlighting comparisons and trends
  • Budget vs. actual comparisons for those businesses that follow a budget or forecast. This enables business leaders to understand deviations from the plan.
  • Any other on-demand or ad hoc reports. Our team can drill down to the details on specific accounts or a group of accounts. For example, business leaders may request a breakdown of monthly travel expenses or a particular account on the balance sheet.

Our initial engagement letter outlines all financial reports our clients can expect, along with the frequency; however, we understand that, occasionally, specific needs arise, so we do our best to accommodate our clients’ requests for ad hoc reports.

Additional Financial Reporting

If requested, we also provide support for year-end tax reporting, audit, and payroll needs. While ARI does not prepare taxes, we will work directly with your tax professional or auditor to provide the necessary reports.

Monthly Financial Summary

Through the years, we have come to understand that some clients are eager to dig into each line of their financials, and some prefer a higher-level overview. That’s why, at month-end, you not only get an easy-to-read set of financials but also a prepared summary. The summary might draw attention to important trends or spikes in trends, including any red flags. It might also explain why variances from the budget are concerning or to be expected.

And you always have access to your account manager, a financial professional who understands your business goals and can help you interpret the health of your business – so you have the information securely when you need to make informed decisions.

We take pride in partnering with our clients to improve and grow their business, and many business owners view us as a critical component of their team. Take a minute and read what some of our clients have said about the services we provide.

If you’d like to explore how ARI can take the hassle out of accounting for your business, contact us today.