Creative Balance Bookkeeping
Monthly Financial Review
Stress Less | Create More
Complete this worksheet each month before submitting your Xero reports. It helps you spot trends, flag concerns, and make the most of your monthly Q&A session. Xero path reminders are included throughout.
1
Income Summary
Xero path: Accounting → Reports → Profit & Loss — set date to this month
| Income source | This month | Last month | Same month last year |
|---|---|---|---|
Income notes
+ = growth, - = decline
2
Expenses Summary
Xero path: Accounting → Reports → Profit & Loss — expand expense categories
| Expense category | This month | Last month | Budget / expected |
|---|---|---|---|
3
Profit & Loss Snapshot
Income minus expenses
Xero P&L shows this automatically
4
Cash Flow & Bank Reconciliation
Xero path: Accounting → Bank accounts → Reconcile & Accounting → Reports → Cash summary
Start of month
End of month
+ = increase, - = decrease
Receivables & payables
Xero: Business → Invoices → Awaiting payment
Xero: Business → Reports → Aged receivables
Xero: Business → Bills to pay
Xero: Business → Reports → Aged payables
5
Financial Health Check
Rate each area this month — be honest! This helps your bookkeeper support you better.
Income is on track with my goals
Expenses are within budget
Cash flow is healthy — bills can be paid
All transactions are categorized in Xero
Invoices are being sent on time
I understand my financial position this month
Financial confidence score
Rate the areas above to see your score
6
Xero Submission Checklist
Check each item before submitting your reports to your bookkeeper.
- Bank account fully reconciled Xero: Accounting → Bank accounts → Reconcile (all green)
- All transactions categorized — no uncategorized items Xero: Accounting → Bank accounts → check for items needing review
- Profit & Loss report exported for this month Xero: Accounting → Reports → Profit and Loss → set date range
- Balance Sheet report exported Xero: Accounting → Reports → Balance Sheet → set to end of month
- Bank reconciliation report exported Xero: Accounting → Reports → Bank Reconciliation Summary
- All receipts attached to expenses where applicable Use Hubdoc or Xero mobile app to attach receipts
- Invoices reviewed — any overdue? Follow-up sent? Xero: Business → Invoices → Awaiting payment
- This worksheet completed and ready to submit
7
My Q&A Session Questions
Write down your questions now so you're prepared for your monthly 30-minute session.
| Question or topic | Priority |
|---|---|
8
Action Items for Next Month
| Action item | Owner | Due date |
|---|---|---|
9