Generating MIS by closing monthly books and accounts and reconciling bank expenses, sales, purchases, inventory, GST, and TDS reconciliation is essential for developing a monthly Profit and Balance Sheet report.

The monthly report empowers the business owner to make timely decisions and take critical action, ensuring they are always in control. If the books are open, it is easier for the company to know how much is receivable and collect it timely. A proper cash flow statement helps you plan for the future and earn extra income from investing in the right place. Also, the financial statement revenue and cost report helps to understand where the revenue leakages are and how the cost is going up to bring down margins. 

Never underestimate the power of a comprehensive monthly sales report. It’s not just about numbers; it’s about gaining a deep understanding of your market. A thorough market analysis, including a comparison with your competition, is only possible when you have a comprehensive monthly sales report at your disposal. This knowledge empowers you to make informed decisions.