A financial report is a key insight into where your company’s money comes from, where it goes and how it’s performing. It gives stakeholders the information they need to make smart decisions about investment, financing and operations.
The financial report includes summaries of essential statements like the income statement, balance sheet and cash flow statement, following a standard accounting framework like IFRS or GAAP. Investors, lenders and partners rely on these reports to assess your company’s value, performance and growth potential.
Your company’s financial health depends on the accuracy and timeliness of your reporting. But creating a quality financial report can be a complicated process, especially when you’re working with complex data.
Getting your reports right starts with capturing accurate expense data. With Fyle, employees receive real-time text notifications of all business expenses, so they can immediately submit receipts via everyday tools like Slack or Outlook. This helps reduce the time spent chasing up reimbursements, and it ensures that all expenses are accurately recorded in your financial report.
Your monthly financial report is essential for tracking your company’s revenue, expenses and profitability. It also allows you to compare budgeted vs actual statements, spot short-term challenges and refocus your strategy.