Navigating Your 'Financial Reports'

User Guide

Written By John Beatty (Super Administrator)

Updated at July 18th, 2022

Financial Reports

The Financial Reports report is a comprehensive annual view of revenue and payouts broken down into monthly columns. Having transparency into your finances gives you the power to be in the know where it counts. 

Clicking on Financial Reports from the "Reports" menu (left-side) launches the report.  



The image of the menu above is shown as a Franchisor, menu options differ for Franchisees. This report is not available to Facility users.

Connect to QuickBooks

The "Financial Reports" details are pulled from your linked QuickBooks account. Click on the  link, in the upper right-hand corner of the report window. This will launch a new window where you will log into your Intuit portal and complete the connection process.



If you are not using or do not want to use QuickBooks, you may manually enter the report's data by clicking on the edit button (1639165655446-monthedit.png) next to each month's title. 

Financial Reports Rows

The details of this report are broken down into line items by vertical rows. Lets breakdown what data is found in each row:

Row Description
INCOME  "Income" section header
Payouts Financial payouts to the business 
Other Income Other amounts of income coming in 
Total Income (I) Total of Income line items

COGS Cost of Goods Sold ("COGS") section header
(Compensation Cost) 
Example of COGS line item may include such items as "compensation cost" 
Other COGS More COGS line items may be added
Total COGS
Total of COGS line items added 
Gross Profit (I - Total COGS)  Total of COGS subtracted from "Total Income"  

"Expenses" section header
Example of Expenses line item, these may include such items as "advertising", "Insurance", "rent", etc. 
Other Expenses  Uncategorized expenses
Total Expenses 
Total of Expenses line items added 
EBITDA (GP - Ex)  Earnings Before Interest, Taxes, Depreciation, & Amortization ("EBITDA"), Total from Gross Profit line minus Total Expenses

Balance Sheet 2nd Report of the "Financial Reports" (Continuation of sheet) 
Assets  "Assets" section header
(Cash in Bank)
Example of Assets line item, this may include items like "Cash in bank"
Other Assets  Uncategorized assets 
Total Assets (A)  Total of Assets line items added
Liabilities "Liabilities" section header 
(Credit Cards)
Example of Liabilities line item, these may include such items as "business loans" and "mortgages"
Other Liabilities  Uncategorized liabilities 
Total Liabilities  Total of Liabilities line items added 
(Owner Contributions) Example of Equities line item, this may include such items as "owner contributions"   
Other Equities  Uncategorized equities
Total Equities
Total of Equities line items added 
(A = L + E) 
Calculation (or balance) of Liabilities + Equities. This should balance to $0.00 

Submitter Name of individual submitting report 
Created  Date report is created (due by or before the 20th of each month)
Modified  Date of last (if any) modification is made to report

Here is a detailed breakdown of viewing the Financial Reports report:

  1. Year of report selection (dropdown) 
  2. Facility Selection (dropdown)
  3. Associated Franchisee (to Facility)
  4. Connect to QuickBooks (button)
  5. Monthly columns
    1. Manual input of report data via
  6. "Total" & "Average" columns
    1. Total/Average of the associated row
  7. "Income" entry section
  8. "COGS" entry section
  9. "Expenses" entry section
  10. "Balance Sheet" Report section break
  11. "Assets" entry section 
  12. "Liabilities" entry section 
  13. "Equities" entry section
  14. Report author and date(s)