Workflow Templates: Monthly Financial Reporting Checklist

Verify all expected rental payments are received and properly recorded

Review and reconcile any discrepancies in ancillary income streams

Analyze and report on variances between actual and budgeted expenses

Reconcile all bank statements with the general ledger

Investigate and resolve any reconciling items or discrepancies

Ensure all bank transfers are properly documented and authorized

Review accounts payable aging report for overdue payments

Confirm all vendor invoices are accounted for and processed

Review accounts receivable aging report and follow up on overdue tenant balances

Prepare and review monthly balance sheet to ensure accurate representation of assets and liabilities

Generate income statement to evaluate profitability and compare to budget

Compile and distribute financial packet including executive summary and detailed reports to stakeholders

Compare actual income and expenses against the budgeted amounts

Explain significant budget variances in the management report

Adjust forecasts and projections based on current month's performance

Ensure compliance with all financial reporting regulations and standards

Review transactions and activities for adherence to internal financial controls

Prepare for any upcoming audits by organizing financial records and documentation

Monthly Financial Reporting Checklist