It’s important to prepare, track, and stay disciplined for the profit and loss statements on a monthly basis for your business. The budgetary sheet below was generated in Excel and represents one way to track and plan your profit and loss accounting.
A common issue for studio owners is failing to project future monthly budget targets. As with any endeavor (and even your personal training) if you don’t know what expectations are you’ll never hit them. Project out your financials for the entire year and track against plan.