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Home > Blog > Microsoft Excel

Monthly Financial Report Template in Excel:Improve Analysis

Your accounting department is likely the core of your entire operation. Yes, you read that right.

Besides, it’s difficult for your business to thrive without financial fluency and skills in data visualization. You can not create a monthly financial report template in Excel without using visualizations.

Monthly Financial Report Template in Excel

It can make or break your business.

As a business owner, you need a reliable financial report template to standardize the analysis phase and extract actionable insights. Also, the report can help you to increase long-term profitability.

A phenomenal finance report shows insights into accounting information that covers a specified period, such as:

  • Daily financial reports
  • Weekly financial reports
  • Monthly financial reports

This report is also an effective means of remaining updated with significant progress or changes in your finances. And it can help you measure your cash flow and overall financial position.

Excel comes with pivot tables, charts, and graphs for visualizing data. However, it lacks templates for creating monthly financial reports.

You don’t have to discard your Excel in favor of other expensive data visualization tools. You can supercharge it with a particular add-in to access ready-made monthly financial report templates and charts.

In this blog, you’ll learn:

Table of Contents:

  1. What is a Monthly Financial Report Template in Excel?
  2. Importance of a Monthly Financial Report Template in Excel?
  3. Key Types of Monthly Financial Reports Templates in Excel
  4. Monthly Financial Report Template Examples in Excel
  5. How to Create a Monthly Financial Report Template in Excel?
  6. How to Download Monthly Financial Report Template in Excel?
  7. How to Use Monthly Financial Report Template Excel?
  8. Benefits of Using Simple Financial Report Template in Excel
  9. Excel Monthly Financial Report Template: Tips
  10. Excel Monthly Financial Report Template FAQs
  11. Wrap Up

Before jumping into the how-to guide, we’ll address the following question: what is a monthly financial report?

What is a Monthly Financial Report Template in Excel?

Definition: A monthly financial report template is a management tool you can easily use to communicate critical financial insights into your data.

You can easily track growth and revenue by covering every aspect of your financial affairs with the help of key metrics. Remember, we’re now living in a data-driven age where the ability to extract actionable insights and incorporate them into your strategy is likely to set you apart from the pack.

To gain a bird’s eye view of your business’s financial position, you need a monthly financial report template in Excel.

So, what is the importance of financial reports?

What is the Importance of a Monthly Financial Report Template in Excel?

  • Make Sound Financial Decisions

Monthly financial reports, including a 3-statement financial model template, can help you identify trends, patterns, and potential roadblocks for real-time insights.

Staying on top of your monthly financial statements provides you with bird’s-eye view-level insights, enabling quick and informed decision-making.

  • Manage Debt

This report can provide you with actionable insight into your current assets and liabilities.

  • Compliance

Accurate financial reporting is aligned with compliance terms set forth by most governments worldwide. You can quickly improve your performance while staying within legal limits.

We’ll take you through monthly financial report templates in the ensuing section. Also, you’ll learn the key types of financial reports that every business needs.

Key Types of Monthly Financial Reports Templates in Excel That Every Business Needs

There are 4 critical types of financial statements you can find in a monthly financial report template in Excel, namely:

  1. Income statements.
  2. Balance sheets.
  3. A statement of retained earnings.
  4. Cash flow statements.
  • Income Statement

An income statement, widely known as a profit and loss statement, can be effectively organized using an income statement template. This report summarizes your business’s revenue, expenses, and profits. It can easily show you how much the income earned or lost during a particular period.

insert chartexpo in excel
  • Balance Sheet

A Balance Sheet is a report that shows high-level insights into your capital, assets, and liabilities. In other words, the balance sheet is a financial statement that provides a macro view of what your business owns and owes and investors’ equity. You can use this report to conduct a fundamental analysis.

insert chartexpo in excel
  • A Statement of Retained Earning

The statement of retained earnings reveals the financial health of the company and how much profit has been retained over some time.

insert chartexpo in excel
  • Cash Flow Statement

Cash flow is the net amount of cash coming in and out of your business.

The incoming cash depicts inflows in your business. Conversely, the expenditures are represented by outflows. Positive cash flows determine your ability to create value for investors.

The amount of data generated when tracking cash flows is massive. You risk analysis paralysis if you go manual. Using a Waterfall chart template can simplify this process and provide clear insights.

insert chartexpo in excel

We’ll take you through monthly financial report examples in the coming section.

Monthly Financial Report Template Examples in Excel

Some of the monthly financial report templates in Excel for you to get started include:

  • Cash conversion cycle report.
  • Cost breakdown report.
  • Satisfaction levels report.
  • Return on assets (ROA) Reports.
  • Return on equity (ROE) Reports.
  • Gross profit margin report.
  • Cash management financial report.
  • Profit and loss financial reports.

Keep reading because you’ll learn how to create a monthly financial report template in Excel.

How to Create a Monthly Financial Report Template in Excel?

A visualization is a form of analysis you can use to extract answers from your data. One of the standard tools for visualizing data using charts, graphs, and maps is Excel. Here are some beautiful chart opportunities available here for your financial data like a stacked waterfall chart and Sankey chart.

However, the spreadsheet application lacks ready-made charts for analyzing monthly financial reports and does not guide how to create a monthly budget in Excel.

We’re not advising you to do away with Excel in favor of other expensive tools.

This is because there’s an amazingly affordable visualization tool that comes as an add-in you can easily install in Excel to access insightful and easy-to-customize charts for analyzing monthly financial reports. The application is called ChartExpo.

What is ChartExpo?

ChartExpo is an add-in you can easily install in your Excel without needing tutorials.

With amazing ready-to-go and insightful charts, graphs, and maps, ChartExpo turns your complex, raw data into easy-to-interpret and visually appealing Excel charts for analyzing monthly financial reports.

More benefits

  • You don’t need coding, calculating, or drawing. Just enter your data and click “Create.” ChartExpo will do the rest of the task.
  • Besides, you can turn any spreadsheet into an engaging visualization chart, no matter the complexity of your data.
  • With ChartExpo, you get interactive and dynamic graphs, maps, and charts. Your charts adjust whenever your data changes.
  • The data visualization software makes communicating your custom charts and graphs effortless. Delight your customers and other audiences with stunning and insightful charts.
  • You can even share your charts on your website or social media accounts. More so, you can export them to other programs, such as PowerPoint.
  • The cutting-edge technology allows you to analyze data much faster and more thoroughly than from your spreadsheets.
  • You can export your charts in JPEG, PDF, SVG, and PNG formats.

In the coming section, we’ll show you how to analyze your data using the monthly financial report template in Excel.

Example #1: Product Sales Report by Month

This section will use a Radar Chart to visualize the table below.

Product Month Sales
TV Jan 80
TV Feb 65
TV Mar 75
TV Apr 80
TV May 90
TV Jun 85
TV Jul 65
TV Aug 70
TV Sep 80
TV Oct 93
TV Nov 99
TV Dec 80
Smart Phones Jan 100
Smart Phones Feb 60
Smart Phones Mar 95
Smart Phones Apr 75
Smart Phones May 100
Smart Phones Jun 60
Smart Phones Jul 95
Smart Phones Aug 75
Smart Phones Sep 109
Smart Phones Oct 80
Smart Phones Nov 109
Smart Phones Dec 75
Computers Jan 50
Computers Feb 55
Computers Mar 51
Computers Apr 40
Computers May 45
Computers Jun 30
Computers Jul 39
Computers Aug 45
Computers Sep 56
Computers Oct 39
Computers Nov 48
Computers Dec 44

To get started with ChartExpo in Excel,  install ChartExpo into your Excel by clicking this link. Now follow the steps below:

  • Open your Excel desktop application.
  • Open the worksheet and click the Insert button to access the My Apps.
insert chartexpo in excel
  • Select ChartExpo add-in and click the Insert.
open chartexpo in excel
  • Once ChartExpo is loaded, you will see a list of charts.
list of charts in excel
  • Look for “Radar Chart” in the list of charts.
search radar chart for Monthly Financial Report Template in Excel
  • Select the data in the worksheet and click the Create Chart From Selection button.
  • Check out the final chart.
Monthly Financial Report Template in Excel 1

Example #2: Employees’ Monthly Financial Report

The Comparison Bar Chart is one of the tested and recommended ways of engaging with your data to draw insights into comparative relationships between key data points.

This section will use a Comparison Bar Chart to visualize the table below.

Months Name Sales
March Alan 90
March David 82
March Lewis 66
March Boris 72
April Alan 85
April David 62
April Lewis 50
April Boris 73
May Alan 40
May David 60
May Lewis 80
May Boris 76
  • Follow the same steps as example #1.
  • Look for the “Comparison Bar Chart” in the list of charts.
search comparison bar chart in excel
  • Select the data in the worksheet and click the Create Chart From Selection.
  • Check out the final chart below.
Monthly Financial Report Template in Excel 2

Insights:

The above chart shows the employees’ comparison based on their monthly sales.

Example #3: Monthly Revenue Report

This section will use a “Double Axis Line Graph and Bar Chart” to visualize the tabular data below.

Months Revenue Profit Margin
Jan 5000 5
Feb 2500 10
Mar 3600 7
Apr 3250 14
May 1975 19
Jun 1874 20
Jul 3952 6
Aug 2222 9
Sep 4260 4
Oct 3300 22
Nov 1500 17
Dec 1160 9
  • Follow the same steps as example #1.
  • Look for the “Double Axis Line Graph and Bar Chart” in the list of charts.
search double axis line graph and bar chart in excel
  • Select the data in the worksheet and click the Create Chart From Selection.
  • Check out the final chart below.
Monthly Financial Report Template in Excel 3

Example #4 Profit and Loss Report

A Sankey Diagram is a visualization chart you can use to display insights into a flow of data through stages or phases.

While initially the charts were used to only showcase energy flows in an engineering system, they’re now used in other disciplines, such as finance and accounting.

This section will use a Sankey Diagram to analyze and visualize the cash flow of tabular data below for P&L Analysis.

Locations Revenue Expenses P&L Analysis Count
North America Revenue Loss Cost of Sales 132
North America Revenue Loss Cost of General and Administrative 159
North America Revenue Loss Cost of Marketing 170
North America Revenue Profit Tax 182
North America Revenue Profit Profit After Tax 834
International Revenue Loss Cost of Sales 162
International Revenue Loss Cost of General and Administrative 158
International Revenue Loss Cost of Marketing 145
International Revenue Profit Tax 171
International Revenue Profit Profit After Tax 753
Middle East Revenue Loss Cost of Sales 155
Middle East Revenue Loss Cost of General and Administrative 166
Middle East Revenue Loss Cost of Marketing 199
Middle East Revenue Profit Tax 151
Middle East Revenue Profit Profit After Tax 685
  • Follow the same steps as example #1.
  • Look for the “Sankey Chart” in the list of charts.
search sankey chart in excel
  • Select the data in the worksheet and click the Create Chart From Selection.
  • Check out the final chart below.
Monthly Financial Report Template in Excel 4

Insights:

The above Sankey diagram shows the Profit and Loss Analysis based on different locations.

How to Download Monthly Financial Report Template in Excel?

  1. Search Templates: Look for financial report templates on platforms like Microsoft Office Templates or trusted websites.
  2. Download Template: Click the download button and open the file in Excel.
  3. Install ChartExpo:
    • Open Excel → Go to Insert → Click Get Add-ins → Search for “ChartExpo” → Install.
  4. Visualize with ChartExpo: Use ChartExpo to create charts and graphs for better financial insights.

How to Use Monthly Financial Report Template Excel?

Step 1: Open the Template

  • Download and open a monthly financial report template in Excel or create one from scratch.

Step 2: Input Financial Data

  • Enter your income, expenses, and other financial details into the respective categories. Include data like sales, operating costs, and net income.

Step 3: Review Calculations

  • Ensure that all calculations such as total revenue, total expenses, and net profit are automatically calculated (most templates include formulas).

Step 4: Analyze the Report

  • Examine key metrics like profit margins, cash flow, and budget variance to understand your financial performance.

Step 5: Customize as Needed

  • Tailor the template by adding or removing categories to match your specific business needs, or adjust chart visualizations to suit your presentation style.

Step 6: Save and Share

  • Save your updated report and share it with stakeholders or use it for future financial analysis.

Benefits of Using Simple Financial Report Template in Excel

  1. Time-Saving: Pre-built formulas and structures streamline data entry, saving time on calculations and formatting.
  2. Easy to Use: Simple templates are user-friendly, requiring minimal Excel skills to input data and generate reports.
  3. Consistency: A standardized format ensures consistency in financial reporting, making it easier to compare data across periods.
  4. Budget Tracking: This helps you monitor income and expenses against your budget, providing a clear financial overview.
  5. Improved Decision-Making: Easy-to-read summaries and visual charts help stakeholders make informed financial decisions quickly.

Excel Monthly Financial Report Template: Tips

  1. Organize Categories Clearly: Use distinct sections for income, expenses, assets, and liabilities for easy tracking.
  2. Update Data Regularly: Ensure that all financial data is current and accurately entered for the most relevant insights.
  3. Use Formulas: Utilize built-in formulas (SUM, AVERAGE, etc.) to automate calculations and reduce manual errors.
  4. Incorporate Visuals: Add charts (e.g., bar, pie, and Sankey) to visualize key metrics like revenue trends or expense breakdowns.
  5. Track Budget vs. Actuals: Include a column to compare budgeted figures with actual results to highlight variances and adjust accordingly.
  6. Set Up Conditional Formatting: Highlight key numbers (e.g., negative balances or overspending) with color codes for quick identification.

Excel Monthly Financial Report Template FAQs

What should be included in a monthly financial report?

A monthly financial report is a management tool you can easily use to communicate vital financial insights into your data.

You can easily track growth by covering every aspect of your financial affairs with the help of key metrics. The report should have up-to-date reporting of the cash inflows, profit and loss statements, etc.

Does Excel have financial report templates?

Excel lacks financial report templates, such as the Sankey Diagram, Double Axis Line Graph & Bar Chart.

We’re not advising you to do away with Excel.

There’s an amazingly affordable visualization tool that comes as an add-in called ChartExpo that you can easily install in Excel to access easy-to-customize charts for analyzing monthly financial reports.

Wrap Up

Your accounting department is likely the core of your entire operation.

Yes, you read that right.

Besides, it’s difficult for your business to thrive without financial fluency and skills in data visualization.

It can make or break your business.

As a business owner, you need a reliable financial report template to standardize the analysis phase and extract actionable insights. Also, the report can help you to increase long-term profitability.

A phenomenal finance report shows insights into accounting information that covers a specified period, such as:

  • Daily financial reports
  • Weekly financial reports
  • Monthly financial reports

This report is also an effective means of remaining updated with significant progress or changes in your finances. And it can help you measure your cash flow and overall financial position.

Excel comes with pivot tables, charts, and graphs for visualizing data. However, the app is unlikely to help you create a monthly financial report template in Excel.

We recommend you install third-party apps, such as ChartExpo, to access ready-to-use data visualization graphs, such as the Sankey Diagram and Radar Charts.

ChartExpo is an Excel add-in loaded with insightful and ready-to-go visualization charts, some of which you can use to visualize monthly financial reports.

Sign up for a 7-day free trial today to access ready-made charts for analyzing monthly financial reports.

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