What reports should businesses review monthly?

Essential Monthly Reports for Vermont Businesses

Reviewing key reports monthly helps Vermont businesses maintain accurate bookkeeping, ensure compliance, and make informed operational decisions.

Core Reports to Review Each Month

• Profit and Loss Statement (Income Statement): Tracks revenue, expenses, and net profit to assess business profitability.
• Balance Sheet: Shows assets, liabilities, and equity, providing a snapshot of financial health.
• Cash Flow Statement: Monitors cash inflows and outflows to manage liquidity effectively.
• Accounts Receivable Aging Report: Identifies outstanding customer invoices to improve collections and cash management.
• Accounts Payable Aging Report: Lists unpaid vendor bills to manage payment schedules and maintain good supplier relationships.
• Payroll Summary Report: Reviews total payroll expenses, tax withholdings, and employee classifications to ensure accurate payroll processing and compliance with Vermont labor regulations.
• Sales Tax Report: Summarizes taxable sales and collected sales tax to prepare for Vermont state sales tax filings.

Operational Tips

• Automate report generation through accounting software to save time and reduce errors.
• Use these reports to verify bookkeeping accuracy and identify discrepancies early.
• Maintain organized digital or physical records to support reporting and potential audits.
• Coordinate with your accountant or bookkeeper monthly to review these reports and plan tax payments or business adjustments.

As of 2026, staying consistent with monthly report reviews supports compliance with Vermont’s tax and payroll requirements and strengthens overall business operations.