What should a business owner review every month in their finances?
Once a month, spend 30 minutes on nine numbers: revenue, money collected, expenses, fixed costs, profit, money owed to you, money you owe, taxes due next month and cash in the bank. Compare with last month and write one decision. PalmGro Flow's money dashboard shows these on one screen.
Set a fixed date
The 3rd or 5th of every month works well, after salaries and before GST dates. Put it in your calendar as a meeting with yourself.
The checklist
- Revenue: invoiced this month vs last month.
- Collections: money actually received.
- Expenses: total and the top three categories.
- Fixed costs: any new recurring cost added?
- Profit: revenue minus expenses.
- Receivables: who owes what, and anything over 30 days.
- Debts: balances and EMIs due.
- Taxes due: GST, TDS, advance tax dates coming up. Ask your CA.
- Cash in bank: enough for the next two months of fixed costs?
Write one decision
Every review ends with at least one action: chase a client, cancel a subscription, raise a price, hold a hire. Without a decision, the review is just reading.
Quarterly extras
Every three months, also look at profit per client, price changes and whether fixed costs still make sense. See profit per client.
How PalmGro Flow helps
PalmGro Flow's money dashboard puts income, expenses, fixed costs, debts, invoices and payments to collect on one screen, by month. You can also ask the AI assistant questions like "pichle mahine ka kharcha kitna tha?" or "who has not paid this month?" and get a short answer from your own data.
Questions people ask
Can I do this review without an accountant?
Yes. This review is for decisions. Your CA handles returns and filings.
What if the numbers look bad?
Look at collections and fixed costs first. They are the fastest levers in most small businesses.
How long should records be kept?
Keep financial records for as long as tax laws require. Ask your CA for the current period.
PalmGro Flow brings your team, clients, tasks, attendance and money into one place, on phone and computer. Try it free, no card needed.Set it up for your team in minutes.