A monthly review should end with decisions, not just a report. That requires agreed numbers, a consistent comparison, and explanations that separate what changed from why it changed.
Use this checklist to run the review the same way every month, so results can be compared from one period to the next and nothing important is skipped when the month is busy.
Before the meeting
- Close the month and confirm the actuals are final.
- Compare actuals with the adopted budget and the latest forecast.
- Break variances down by account and department.
- Flag variances above an agreed threshold for explanation.
In the meeting
- Start from agreed numbers. Do not debate the data.
- For each flagged variance, record whether it came from price, volume, timing, or a one-off cause.
- Keep measured differences separate from explanations.
- Review the cash outlook for the next thirteen weeks.
After the meeting
- Update the forecast with any changed expectations.
- Record decisions and owners.
- Publish the report edition so it can be referenced later.
This template is general guidance, not legal, tax, or financial advice. Adapt it to your business and confirm requirements with a qualified adviser.