An operational income statement helps manage business finances by;

• Providing clear insights into profitability from core activities, excluding overhead and sales costs.
• It allows for quick issue identification, effective communication with managers to achieve financial goals, cut costs, and fosters a well-managed business environment.
• You can use these statements to hold managers accountable for reaching financial goals by holding monthly meetings. 
• You can easily see the costs associated with opening a new branch or division and
• Track major cost centers separately for better cost control.

Whether it's a quoting issue, training gaps in your workforce, or inadequate gross margins, you can pinpoint problems with ease.

This setup equips you with the necessary tools to investigate specific issues.

With a clear understanding of costs associated with your sales function or any major cost center, you can efficiently compare expenses and identify areas where costs are excessive, enabling you to trim unnecessary expenses. 

By having comprehensive income statements you'll;

• Know exactly how much gross profit you are making across major product lines,
• Be able to compare actuals to budget and previous year's figures using percentages,  crucial for promptly identifying and addressing any issues.

Ultimately improving profitability.

If all costs of goods sold are grouped together,

• There is a higher risk of overlooking specific problems
• And not being unable to accurately assess whether the gross margin meets expectations.

This approach could result in missing potential issues and mistakenly believing everything is running smoothly. AND LOWER PROFIT.

Monthly Bank Covenant report -  A  great report to determine if your company meets the Bank's covenant Requirements.

Cash flows daily report: Offers daily updates on cash balance to prevent exceeding budgeted bank credit.

• Tracks cash in  and cash out  against the budget, helps ensure that a budget is maintained and limits any surprises with cash flows.

Accounts Receivable exception reports

• Provides insights into overdue accounts and facilitates discussions during collection management meetings.
• Serves as a valuable resource for managers to comprehend clients' collection history.

Gross margin report  -Perfect for a quick analysis of the Cost of Goods Sold Cost. 

• Provides a detailed breakdown of profitability, including labor, materials, and equipment rental profits, among other major costs.
• Offers valuable insights into potential margin concerns or areas for improvement.

Cost by Salesperson - If your system is appropriately configured, it can accurately monitor all expenses incurred by sales personnel, making it ideal for businesses with extensive travel requirements

Cost per vehicle - Displays the total cost incurred per vehicle, allowing for the calculation of cost per mileage if vehicle mileage is tracked. May, identify issues with vehicle costs being too high.

There are countless examples, but these are just a few to highlight.

I excel in crafting comprehensive financial reports across all facets of your business. With a rich background in servicing companies and part resellers.

I'm capable of handling almost any accounting software. Most of them follow a standard format; the key is having access to support from the software provider.

Jonas, Great Plains,P21 Quickbooks Online, desktop, F12, CRM, Filemaker, Alert to name a few, P21

If you're working on construction projects and billing are based on percentage complete,

• Having comprehensive job cost reports is vital.

These reports provide essential details on costs, revenue, and completion progress.

I've developed numerous reports tailored specifically for the construction industry to ensure accurate tracking of these metrics.

• It's been my passion to design reports, so companies have the tools to zoom in on monthly problem areas, and fix them.
• It's invaluable to have these reports.
• Being able to spot work orders below a target gross margin or projects with really high gross margin %'s improves accuracy and identifies issues easily, without looking at everything.

Yes! All of the work can be virtual in different countries and provinces.

Principles are all the same  for most small businesses.