Financial Health Scorecard

Ten questions about whether your numbers are timely, trustworthy, and actually used to run the business. No financial data required. Takes about 2 minutes.

1. Do you receive monthly financial statements (P&L and balance sheet) within 15 days of month-end?

2. Can you look at your P&L right now and tell what your actual profit margin is?

3. Are your expenses categorized in a way that's specific to your business, or are they in generic buckets?

4. Do you know your true costs after fees, processing, discounts, and the line items that usually get buried?

5. Is your revenue recorded as net (after refunds, discounts, and chargebacks), or are those adjustments missing?

6. Do you have a consistent process for reconciling your bank and credit card accounts every month?

7. When tax season comes, are your books ready to hand to your CPA, or does it turn into a scramble?

8. Do you use your financial statements to make business decisions, or do they sit in a folder untouched?

9. If your revenue doubled next month, would your finance process keep up?

10. Do you feel confident that your books are accurate enough to present to a lender, investor, or buyer today?