OVERVIEW
The Monthly Business Summary provides a structured monthly view of the financial information collected through the daily and weekly tracking process. It rolls up weekly appointments, sales, discounts, refunds, net sales, average ticket, tips, and expenses while organizing monthly expenses across payroll, supplies, rent, utilities, insurance, processing fees, software, marketing, repairs, equipment, and other operating categories.
The form also supports reconciliation and management review by providing space to verify deposits, review cash differences, reconcile gift certificates and deposits, check payroll and tips, confirm supporting records, and identify trends. A preliminary operating result can be calculated for management purposes, while the form clearly distinguishes this estimate from the official profit-and-loss statement or final taxable income prepared using the approved accounting method.
WHAT YOU'LL LEARN:
- How to roll weekly sales and appointment information into a monthly summary.
- How to review monthly grooming, add-on, retail, and other earned sales.
- How to track gross sales, discounts, refunds, and net sales.
- How to review average ticket and separately tracked tips.
- How to organize monthly expenses by category.
- How to calculate a preliminary monthly management result.
- How to review bank, processor, cash, gift certificate, and deposit reconciliation.
- How to identify sales, expense, average ticket, promotion, pricing, and scheduling trends.
- How to compare actual monthly sales with the monthly sales goal.
- How to prepare the monthly information for bookkeeper or CPA submission and quarterly review.
BUSINESS BENEFITS
A standardized monthly summary creates a consistent record of sales, appointments, expenses, reconciliations, and financial trends. It helps organize information from the weekly tracking process while providing a clear place to review cash and deposit differences, supporting records, payroll and tips, gift certificates, promotions, and changing expense categories. The form also documents monthly goals, management observations, follow-up items, professional submission, and review. Separating the preliminary management result from the official P&L helps maintain a clear distinction between internal management information and the accounting records prepared under the approved accounting method.
RECOMMENDED FOR
- Business Owners
- Office Managers
- General Managers
- Owners or Managers Responsible for Monthly Financial Review
- Bookkeepers
- CPAs or Accountants Receiving Monthly Records
IMPLEMENTATION NOTES
Complete the Monthly Business Summary using the weekly information collected through SOP 7.11. Enter the weekly rollup, complete the monthly expense summary, and calculate the preliminary management result without treating it as the official P&L or final taxable income. Review deposits, cash differences, gift certificates, payroll, tips, receipts, invoices, and financial trends. Record the monthly sales goal and follow-up items, then submit the completed summary to the bookkeeper or CPA as required and include it in the quarterly review packet when applicable.
