Monthly financial report, September 2026, Ferncastle Physio
Monthly financial report template with a P&L, cash and variance to budget
A monthly financial report has to show owners whether the month made money against plan, why it differed, where the cash went and who still owes the business. This four page report for a physiotherapy clinic does that with a profit and loss against budget, variance notes that add to the shortfall, a cash movement table and receivables ageing with follow up.
The document, page by page
Every page as it renders and as it prints, with nothing summarised. Read the wording before you reuse it.
Section by section
What each section is for, so you can keep the ones you need and drop the rest.
- Header and figures
- Period, preparer, meeting and unaudited status, four headline figures and a short summary.
- 1. Profit and loss
- Revenue, cost of products and eight expense lines against budget with tinted totals.
- 2. Variance to budget
- Every variance over $500 explained and adding to the $3,800 shortfall, with the fee split.
- 3. Cash position
- Opening balance, receipts, four kinds of payment and the closing balance against target.
- 4. Receivables ageing
- What is owed by age and payer, with shares and four follow up actions.
- 5. Clinic measures
- Five operating measures against budget and last month, and the October outlook.
How to adapt this document
First, swap the revenue lines for your own income streams and keep the section rows, so a product business might show sales by channel and a cost of goods line large enough to need its own variance note. Second, add a year to date column beside the month once you are three or four months in, because one month's variance is noise and three months is a trend. Third, if you report to a lender, add a short covenant table showing the ratios they test, such as interest cover, so they can see compliance without asking.
What makes this document work
The variance notes add up to the gap
Five lines explain the $3,800 net profit shortfall: consultations -$5,600, classes +$2,200, wages +$1,200, marketing -$900 and the rest -$700 net. When the explanations reconcile to the variance, the owners know nothing is hiding in a line nobody mentioned.
Volume and price are separated
The callout splits the consultation variance: 80 missed visits at the budgeted $81.25 cost $6,500, and a higher average fee of $82.00 won back $900. That tells the partners the problem was capacity during leave, not pricing.
Cash and debtors are not left to the P&L
Profit was $28,650 but cash rose $17,200 after drawings and the loan, and the cash table shows every movement. The ageing table flags $7,500 over 60 days, up from $5,900, with four follow up actions and dates.
Questions people ask
What is the difference between management accounts and financial statements?
Management accounts are internal reports prepared monthly for owners and managers, in whatever format helps them run the business, and are usually unaudited. Financial statements are prepared yearly to accounting standards for tax, lenders or shareholders. This report is management accounts, and its footer says so, because a reader should know the figures may change at year end.
Which variances should a monthly report explain?
Set a threshold and explain everything above it, here $500, so attention goes to what matters. The explanations should add to the total variance, with small items grouped as other. Say whether each variance is timing, a one off or a lasting change, because only the last should change the forecast.
Why can profit and cash move differently in a month?
Profit counts income when it is earned and costs when they are incurred; cash counts money when it moves. Insurer claims paid a month late, owner drawings, loan repayments and leave paid from a provision all separate the two. That is why the cash table here starts from the bank balance, not from profit.
What is a receivables ageing report?
A table of what customers owe, grouped by how long the invoices have been outstanding, usually current, 31 to 60, 61 to 90 and over 90 days. Older debts are less likely to be paid, so the amount over 60 days is the figure to watch. Splitting it by payer type shows whether insurers or patients are the problem.
How long after month end should the report be ready?
Most small businesses can close the month within five to eight working days once bank feeds, payroll and supplier bills are in. This one was prepared on 8 October for a meeting on 12 October. Speed matters more than perfection: a report three weeks late describes a month that can no longer be changed.
Should a monthly report compare with the same month last year?
Where the business is seasonal, yes. A physio clinic is busier in some months than others, so comparing September with last September shows real growth better than comparing it with August. Budget comparison tells you whether the plan is on track; last year comparison tells you whether the business is growing. Many reports show both columns once a full year of history exists.
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