Financial Data Review

This sheet will help us understand our profit/loss statements.

Review

• Determine if you need to review the Monthly report or the Quarterly report.

Q1 Jan 1 Mar 31 Q1 starts on Jan 1 and ends on Mar 31.

Q2 Apr 1 Jun 30 Q2 starts on April 1st and ends on June 30th.

Q3 Jul 01 Sep 30 Q3 starts on July 1st and ends on September 30th.

Q4 Oct 1 Dec 31 Q4 starts on October 1st and ends on December 31th.

• Go to Profit/Loss Input

• Look for Issues in Data

Check to make sure we have the most recent month in the Profit/Loss Input. Make sure there is nothing highlighted red, as those won't be included in the final profit and loss that you look at. Only have to check the most recent month.

• Select the recent month or quarter and select what you'd like to compare it to.

Use the drop down menu (Row 3, on columns C and E) Usually this is going to be the previous year, with covid it may be the year before that.

• Check Previous Years to see other trends

• Look at Income accounts and look for large changes.

If they have gone in the proper direction the percentage will be highlighted green. This means if an income account goes up, it will be green, if an expense account goes down it will be highlighted green.

All of the changes are percentages of our total income.

• Look at expense accounts for large changes.

• Look at Fuel Charges and Compare it to Fuel Expense

We should be profiting some amount off of this.

• Look at Toll Charges and compare it to Toll Income

The profit here will be minimal, but should be something.

• Look at current Chase Bank account levels

Look through all accounts for transactions that look questionable.

• Look at Capital One

Look through Capital One account for transactions that look questionable.

• Look at Schwab

• Look in Slack and Trello and remove any employees no longer consistently employed or referred by Bolt

• Click your workspace name in the sidebar.
• Hover over Tools & settings, then select Manage members.
• Click the three dots icon to the right of the member you’d like to deactivate.
• Select Deactivate account.

Financial Data Input

• Make sure the book keeping has been done for the period in review

Check the banking tab in QuickBooks to verify there are no transactions for the period still left to be added.

• Go to Reports.

• Click the Custom Reports tab

• Click the Previous Month Profit/Loss or Previous Quarter Profit/Loss depending on what needs to be done.

• Click the Share Button > Export to Excel

• From row A-B 7 downwards, select everything and press Command C to Copy.

Do not include the date at the bottom. Only the cells with accounts and numbers in them.

• Go to Financial Data. It will take about 5 seconds to automatically go to the bottom of the sheet.

• Press Command Shift V to paste the Data without formatting at the end of the sheet.

• Type the Date once in MM/DD/YYYY format, then type if its monthly/quarterly/yearly. Then copy and paste both fields all the way down your newly inputted data.

• If the Time Period is correct, drag it down all the way to fill in the new data.

For Red Items

Anything red means that there is no account listed in the Profit/Loss comparison sheet. Anything red will not appear on that sheet and needs to be added.

To add an account:

• Go to Profit/Loss Comparison

• Insert a row in the proper area. Refer to the profit/loss sheet to determine where this account goes.

• Drag down the formulas in each section.