“Variance reports are essential for any business that wants to stay on top of their finances.”
— Melissa Houston
Having a business financial plan is essential — but you also have to monitor your results against that plan, each and every month, in order to understand how to create profit in your business.
This is the reality: if you’re NOT monitoring those results, then you are out of the loop when it comes to the financial health of your business… and you won’t be able to make the informed course corrections that will get you back on track when you begin to fall behind your goals.
A variance report is an analysis tool that allows you to compare your actual business results with your budgeted figures or standard performance levels for specific periods, such as months or quarters. Listen now to learn why completing monthly variance reports is VITAL to running your most successful and profitable business!
In this episode, you’ll discover:
Highlights:
00:49 Intro
02:34 Business plans & forecasting
04:59 QuickBooks
06:31 What is a variance report?
07:36 Variance report example #1
10:43 Variance report example #2
11:28 Why use variance reports?
13:15 How to create a variance report
15:31 Money mindset
16:24 Conclusion
18:09 Cash Confident
Links:
Cash Confident program
https://melissahoustoncpa.lpages.co/cash-confident-sales-page
Cash Confident: An Entrepreneur's Guide to Creating a Profitable Business
https://melissahoustoncpa.com/cash-confident-book
QuickBooks
https://quickbooks.intuit.com/global
Main website 🡪 https://shemeansprofit.com
Calendar link --> https://calendly.com/shemeansprofit/30min
Mini-courses --> https://melissa-houston.thinkific.com/courses/the-debt-repayment-calculator
https://melissa-houston.thinkific.com/courses/pay-yourself
https://melissa-houston.thinkific.com/courses/personal-net-worth-calculator-mini-course
https://melissa-houston.thinkific.com/courses/the-ultimate-budget-binder-mini-course
Follow me on:
LinkedIn @melissahoustoncpa