Workflow Templates: Monthly Budget Review Checklist

Review total sales against the previous month and the same month last year

Analyze revenue streams by category (food, beverages, delivery, etc.)

Check for any unusual or unexpected fluctuations in revenue

Examine labor costs and compare with labor budget

Review food and beverage costs and check for variances from budget

Assess all operational expenses including utilities, rent, and maintenance

Calculate the gross profit margin for the month

Compare actual net profit against the budgeted net profit

Identify areas with potential to reduce costs or increase revenue

Adjust next month's budget based on current month's findings

Consider upcoming events or seasonal changes that may affect the budget

Set financial goals for the next month based on performance trends

Review inventory levels and compare with sales data

Identify any discrepancies in inventory usage

Plan for inventory purchases based on sales forecasts

Check the status of any outstanding debts or loans

Ensure all payments are made on time to avoid penalties

Review interest rates and terms for possible refinancing options

Ensure all tax-related documents are properly filed

Set aside funds for any upcoming tax payments

Consult with a tax professional to identify potential tax savings

Use Slack? Start your trial with one click

Start Free 14-Day Trial

Use Slack? Sign up with one click

Monthly Budget Review Checklist