The short answer
Financial reporting turns your bookkeeping into a monthly package you can read in a few minutes: income statement, balance sheet, cash flow statement, budget vs actual and a short KPI dashboard. At AZ Easy CFO, Chris Badulescu, CPA, builds the package around your business and reviews it with you.
What is in a monthly financial reporting package?
A good package answers three questions quickly: how did we do, where do we stand and what changed. Ours includes the three core financial statements, a budget vs actual comparison, a KPI dashboard and a one page summary written in plain language.
| Report | What it tells you |
|---|---|
| Income statement (P&L) | Revenue, costs and profit for the month and year to date |
| Balance sheet | What the business owns, owes and is worth on paper |
| Statement of cash flows | Where cash came from and where it went |
| Budget vs actual | Which lines are ahead of plan and which are behind |
| KPI dashboard | The three to six numbers that matter most to you |
| Summary | What changed and what to watch, in a few sentences |
Why do my financial reports feel hard to use?
Usually because they were built for the tax return, not for running the business. Standard reports lump things together, skip comparisons and show every account at the same weight. We reorganize them around how you make money and add the comparisons that make trends obvious.
- Revenue split by service line, location or customer type
- Cost of sales separated from overhead so gross margin is visible
- Prior month, prior year and budget columns side by side
- Non cash and one time items called out so they do not distort the picture
If the chart of accounts itself needs restructuring, we coordinate with your bookkeeper or with monthly bookkeeping at AZ Easy CPA.
Which KPIs should be on my dashboard?
Your KPIs should reflect how your business earns and spends money. We start with a few universal measures, such as gross margin, cash runway and receivables aging, then add two or three industry measures. Fewer numbers, watched consistently, beat a crowded dashboard.
- Professional practices: revenue per provider, collections rate, payer mix
- Salons and barbershops: revenue per chair, retail attach rate, rebooking
- Restaurants: prime cost, food cost percentage, sales per labor hour
- Contractors and the trades: job margin, backlog, work in progress
- Nonprofits: program expense ratio, months of reserves, grant spending vs budget
See more by industry on our industries page.
Do you prepare financial statements for lenders and bonding companies?
Yes. Lenders, sureties, landlords and investors often want financial statements in a consistent, professional format. We prepare lender ready statements from your books and, when CPA compiled statements in GAAP format are required, coordinate them through AZ Easy CPA.
Compiled financial statements are a formal CPA service with specific standards. Our sister firm offers compiled financial statements for lenders, bonding companies and landlords. For loan applications, reporting pairs naturally with funding and growth planning.
How quickly do we get reports each month?
When the books are closed on a regular schedule, the reporting package is typically ready within the first few weeks of the following month. We agree on a calendar up front so you know when to expect it and when your review session happens.
Timing depends on how quickly bank statements, payroll reports and receipts come in, and whether bookkeeping is handled by us, by AZ Easy CPA or by your in house team. A predictable close is the foundation of useful reporting, so we help tighten it if needed.
How do we get started?
Free consultation
We look at the reports you get today and what you wish they told you.
Pick the KPIs
Together we choose the handful of numbers that matter most to your goals.
Rebuild the package
We restructure statements, add comparisons and build the dashboard.
Monthly review
Each month Chris walks you through the package and what changed.
Refine over time
KPIs and reports evolve as the business grows and priorities shift.
Financial Statements and Reporting questions
What is the difference between bookkeeping and financial reporting?
Bookkeeping records and reconciles transactions. Financial reporting organizes those numbers into statements, comparisons and KPIs that help you make decisions.
Can you work with my current bookkeeper?
Yes. We often work alongside an existing bookkeeper or in house team and focus on reporting, review and analysis.
What format are the reports in?
You get a PDF package and access to the underlying files. Many clients also get a simple online dashboard for their KPIs.
Are compiled financial statements the same as reviewed or audited statements?
No. Compilations, reviews and audits are three different levels of CPA service. We help you understand what your lender is actually asking for and coordinate the right one.
Do you work with QuickBooks Online?
Yes. Chris is a QuickBooks ProAdvisor and most clients use QuickBooks Online. We also work with NetSuite.
Will I understand the reports?
That is the point. Every package comes with a plain language summary and a review session, and you can always ask what a number means.
