Accounting › Statements
Financial statements you can read and trust.
Included in monthly bookkeeping: $550–$1,800/mo
A profit-and-loss statement, balance sheet, and cash-flow view, prepared from books reconciled to source and delivered owner-readable on a fixed monthly date. Statements that tie out — because the accounts underneath them do.
Management statements from reconciled books — CPA-ready. Not audit, review, or attestation (that's a CPA's role).
Reviewed before delivery: reports go out only after the accounts behind them agree with their statements and every open question is listed for you. What the review checks.
Quick answer
Management statements and CPA-issued statements are different products. Ours are the monthly profit and loss, balance sheet and cash-flow report you run the business from, built on reconciled accounts. If a lender or regulator asks for a compilation, review or audit report, a CPA issues it, working from the same clean books.
Included in monthly bookkeeping ($550–$1,800 a month); your exact fee is scoped in writing. Statements come out of the monthly close, not a separate fee. What the published range includes.
Statements you can trust
A report is only as good as the books beneath it.
A profit-and-loss statement that looks tidy can still be wrong in every line if the accounts feeding it were never reconciled. That's why we treat statement preparation as the top of a stack, not a standalone export: first the accounts reconcile to source, then the monthly close runs, and only then are the statements drawn — so they tie out and mean what they say.
We keep them owner-readable: structured so you can find the answer to a real question — is my margin holding, where did cash go — without an accounting degree. New to reading a P&L? Our owner's guide walks it line by line.
When a statement raises a strategic question, that's where reporting advisory turns the numbers into a decision. The statements are the production layer; the advisory is the judgment on top.
Any financial statements we prepare are unaudited and unreviewed, are intended for internal management use, and provide no assurance.
Profit & loss
Income and expense by month, period, and category — the trend you can finally trust.
Balance sheet
What you own and owe at a point in time — real balances, not guessed ones, that actually balance.
Cash flow & custom views
How money actually moved, plus any operational view your business needs — delivered on a fixed date.
Figure data as a table
| Question | Management statements (ours) | Compilation, review or audit report |
|---|---|---|
| Who issues it | Everholt & Co., from the monthly close | A CPA |
| What you get | Profit and loss, balance sheet and a cash-flow view, every month | The CPA's report on the statements |
| Assurance | None: unaudited, unreviewed, for internal management use | Set by the type of report the CPA issues |
| When you need it | Running the business month to month | When a lender or regulator asks for one |
| Built from | Books reconciled to source | The same clean books |
Worked example · one month
Three statements for one month, and the checks that tie them together.
A specimen package for a small service business. Each lettered check below is run before the package is delivered; if any one fails, the statements don't go out.
Illustrative example — not client data. Assumptions stated.
Profit and loss, this month
| Line | This month |
|---|---|
| Revenue | $84,000 |
| Cost of services | ($38,500) |
| Gross profit | $45,500 |
| Admin wages, rent, insurance, software and marketing | ($23,900) |
| Depreciation (D) | ($1,200) |
| Interest on the equipment loan (E) | ($450) |
| Net income (B) | $19,950 |
Balance sheet, end of month
| Line | End of this month | End of last month |
|---|---|---|
| Cash, reconciled to the bank (C) | $61,420 | $52,870 |
| Accounts receivable | $48,300 | $41,900 |
| Prepaid insurance (D) | $5,250 | $6,300 |
| Equipment, net of depreciation (D) | $57,600 | $58,800 |
| Total assets (A) | $172,570 | $159,870 |
| Accounts payable | $9,850 | $11,200 |
| Payroll liabilities | $4,380 | $4,380 |
| Equipment loan (E) | $38,200 | $39,000 |
| Total liabilities | $52,430 | $54,580 |
| Owner's equity (B) | $120,140 | $105,290 |
Cash-flow summary, this month
| Line | This month |
|---|---|
| Net income | $19,950 |
| Add back depreciation, which moves no cash | $1,200 |
| Receivables grew | ($6,400) |
| Prepaid insurance used | $1,050 |
| Payables paid down | ($1,350) |
| Cash from operations | $14,450 |
| Loan principal repaid (E) | ($800) |
| Owner distributions (B) | ($5,100) |
| Change in cash (C) | $8,550 |
The tie-out checks
- (A) The balance sheet balances. Total assets of $172,570 equal liabilities of $52,430 plus owner's equity of $120,140.
- (B) Profit reaches equity. Last month's equity of $105,290, plus net income of $19,950, less distributions of $5,100, gives $120,140.
- (C) Cash flow lands on the bank. Opening cash of $52,870 plus the $8,550 change is $61,420: the balance sheet's cash line and the reconciled bank balance.
- (D) Non-cash lines agree. Depreciation of $1,200 equals the drop in equipment, net; the $1,050 of insurance expense inside operating costs equals the drop in prepaid insurance.
- (E) Loan payments split correctly. The $800 of principal equals the fall in the loan balance and stays off the P&L; only the $450 of interest is an expense.
- A service business on accrual books, with one bank account, customer receivables and one equipment loan.
- Management-use statements: unaudited, unreviewed, and carrying no assurance.
- Whole dollars, invented for the example; no equipment was bought during the month.
The skipped statement
The balance sheet tells you what the P&L can't.
The profit-and-loss is the statement owners reach for first — it's the one that says "did I make money." But a profitable P&L can sit on top of a business that's quietly in trouble, and the balance sheet is where you'd see it. A few of the things it shows that the P&L never will:
Profit you've earned but haven't collected
A great month on the P&L can be money still sitting in accounts receivable. The balance sheet — and an A/R aging behind it — shows how much of your "profit" is actually in the bank versus owed to you, and how long it's been owed.
What you really owe
Debt, unpaid bills, sales tax and payroll liabilities you're holding for someone else — none of it shows on the P&L. The balance sheet is the only place you see whether the obligations stacking up behind the business are under control.
Whether the books are even sound
A balance sheet that doesn't balance, or that's full of "ask the accountant" and negative-balance oddities, is the fastest tell that the underlying books are broken. We use it as a first-look diagnostic before we trust anything the P&L says.
We prepare both, every month, and point out what each is telling you — because reading only the P&L is how a business gets surprised by a cash problem it was profitable right up until. New to the whole set? Our guide on how to read financial statements covers all three and how they tie out.
Financial statements FAQ
Your questions about the statements.
Part of accounting for an owner-run business and a fully outsourced finance function · the full offer.
Numbers that hold up
Get statements that tie out — every month.
We look at your books and scope a fixed monthly fee that includes reconciled statements you can read and your CPA can work from. Each set passes the documented review before you receive it.