How to review a monthly financial report
Learn how to track cash flow across accounts and generate a detailed financial report.
☝️ Before reviewing finances, check stock balances and complete inventory checks. Inventory checks help identify mistakes that may affect the venue’s financial results.
Track money movement across accounts and record all real transactions in Poster. This helps generate accurate and detailed financial reports.
Let’s go through the key steps to organize your venue’s finances.
💰 Account balances
Check your account balances: online banking balances, actual cash in the safe. Compare them with the balances in Finances → Transactions.
💡 To view account movement and balance for a specific date, open Finances → Transactions, add the Balance column, and select the required date and account.
☝ Check the cash drawer balance only after closing the cash shift so all POS payments are included.
🪄 Find and fix mistakes
Make sure all real transactions are added to Poster. Add missing transactions retroactively or edit existing ones to reconcile balances.
Review transaction categories and edit them if needed. Split broad categories into subcategories for more detailed reporting.
For example, instead of one Utilities category, create separate categories for garbage collection, electricity, water supply. This gives you more detailed financial statistics.
🧮 Cash shifts
Review and edit transactions with the Cash shifts category separately in Finances → Cash shifts.
💡 The Expected balance and Actual balance fields in a cash shift show the expected and actual cash amounts in the drawer. If there is a difference, Poster automatically creates an adjustment transaction. Edit the cash shift values to remove discrepancies.
🤵🏻♂️ Employee payouts
Track employee payroll in Poster. Review payout amounts and add a transaction with the Salary category when the payment is made.
🍀 Financial results
Review expenses and income by category in Finances → Cash flow. Compare Cash flow with previous periods to track changes.
Use the P&L report to monitor income, expenses, and venue profitability.
Regular accounting and automated processes help ensure that your financial results reflect your actual net profit.