Using P&L Summary Reports with Monthly and by Quarterly Details to Streamline the Monthly Reporting Process

    How can Financial Statement s Drive Faster and Better Decisions? As CFOs increasingly become key advisors in the Monthly Reporting Process, they must rely on modern self-service corporate performance management (CPM) and business intelligence (BI) tools. Using interactive Financial Statements like the P&L Summary Report with Monthly and by Quarterly Detail template shown below enables them and users from the board and executive teams to analyze near real time monthly , quarterly and year-to-date revenues and expenses that help drive faster and better decisions. Who uses P&L Summary Report with Monthly and by Quarterly Detail s and What are Some Key Analytical Features? In today’s fast-paced business environment, CFOs are under high pressure to supply end users like corporate leaders with timely and concise Financial Statements. Companies use key features like the ones below to support their users with effective analysis that helps drive better view of the company's performance over time:
    • Expandable year-to-date (YTD) column to view individual months
    • Expandable revenue and COGS rows to see account level detail and drill-down
    • Monthly variance analysis in amount and percent, and with indicators
    The P&L Summary Report with Monthly and by Quarterly Detail template can be used as a key element of the Monthly Reporting process: [caption id="" align="alignnone" width="2560"] Example of a P&L Summary Report with Monthly and by Quarterly Detail to Streamline the Monthly Reporting Process Example of a P&L Summary Report with Monthly and by Quarterly Detail to Streamline the Monthly Reporting Process[/caption] The P&L Summary Report with Monthly and by Quarterly Detail is a ready-to-use Financial Statement from the Solver Marketplace. A Brief Description of the P&L Summary Report with Monthly and by Quarterly Detail Template Financial Statements like the one seen in the image above are interactive and parameter driven and typically contain sections with monthly, quarterly and YTD views of revenues, expenses, margins and profits. One of the important features that aid the user in the analysis process is the ability to easy, compressed view of essential P&L information. P&L Summary Reports with Monthly and by Quarterly Details are often used in conjunction with profit & loss variance reports, balance sheets, cash flow statements, forecast input models and KPI dashboards. Data Integration to Transaction Systems Most organizations these days want automated and streamlined planning, reporting and analysis. However, many of the benefits described earlier rely on best of breed Corporate Performance Management (CPM) tools and/or Business Intelligence (BI) capabilities as well as data marts or data warehouses that use pre-built integrations to the organization’s ERP system. Oftentimes, they also need integrations to other key data sources like CRM, subscription systems, payroll tools, etc. Modern, cloud-based ERPs like Microsoft Dynamics 365 Finance (D365 Finance), Microsoft Dynamics 365 Business Central (D365 BC), Sage Intacct, Acumatica, Netsuite and SAP have robust APIs which allow for dynamic integrations to CPM and BI tools that are fully automated and flexible to run on a schedule or on-demand. Additional Resources to Aid with Research of Templates, CPM and BI Tools
    February 13, 2022