Bookkeeping for contractors and service businesses in MetroWest and Greater Boston.

Call or Text: (774) 277-8683

What financial reports help track cash flow?

Your bank reconciliation report is the foundation. It confirms your actual cash balance matches what the bank shows after accounting for outstanding checks and deposits in transit. Run this at least monthly. If you don’t know your real cash position, every other report is built on shaky ground.

Accounts receivable aging shows who owes you money and how long they’ve owed it. Group invoices by 0-30 days, 31-60 days, 61-90 days, and over 90 days. This report predicts incoming cash. If most of your AR sits in the 60+ day buckets, you have collection problems that will hurt cash flow regardless of how much work you’re selling.

Accounts payable aging shows what you owe vendors and when. Use it to prioritize payments, spot upcoming pressure points, and negotiate timing when needed. Paying vendors too early burns cash unnecessarily. Paying too late damages relationships and vendor credit terms.

The profit and loss statement shows profitability, not cash. A business can be profitable on paper and still run out of cash because customers pay slowly, inventory ties up capital, or equipment purchases hit all at once. Many business owners focus on the P&L and miss cash problems until they’re urgent. Review your P&L alongside cash reports, not instead of them.

A rolling cash forecast projects your cash position weeks into the future. Start with current cash, add expected inflows from AR and anticipated sales, subtract expected outflows from AP, payroll, rent, and recurring expenses. Update it weekly. This is the report that answers “will I make payroll in three weeks?” before it becomes a crisis. For cash flow planning, a 13-week rolling forecast gives you enough visibility to make decisions without getting lost in speculation about the distant future.

The formal cash flow statement breaks money movement into operating, investing, and financing activities. It matters for the big picture and for lenders or investors who want to understand your business. But most small business owners get more value from the simpler reports above for day-to-day decisions.

For small business bookkeeping in MetroWest Massachusetts, we recommend reviewing bank reconciliation and AR/AP aging monthly at minimum. Cash forecasts work best when updated weekly, especially if your business has seasonal swings or project-based revenue where timing matters. The goal is knowing where you stand today and where you’ll be next month before problems sneak up on you.

Greater Boston's Trusted Bookkeeping Partner

The Next Step:
A Short Conversation

We'll ask a few questions, figure out what you need, and give you a straightforward quote.

More Questions

What are the signs I need to hire a bookkeeper?

The clearest sign is not knowing whether you're actually profitable. Other red flags include books that are months behind, stressful tax seasons, and making financial decisions based on your bank balance rather than real numbers.

Read answer

How do I track equipment costs by job?

Track rented equipment by assigning invoices directly to jobs. For owned equipment, calculate an internal hourly rate based on depreciation and operating costs, then log usage and charge jobs accordingly.

Read answer

How do B2B service companies track accounts receivable?

B2B service companies track receivables using aging reports in their accounting software, with clear payment terms on every invoice and a consistent follow-up process for overdue accounts. The key is staying on top of outstanding invoices weekly, not monthly.

Read answer

How do I manage cash flow during slow seasons?

Build reserves during busy months and maintain a rolling cash forecast so you see the slow season coming. Tighten collections before revenue drops and know exactly which expenses you can defer.

Read answer

How do I manage retainage in my construction accounting?

Retainage requires a dedicated receivable account separate from regular accounts receivable. Track withheld amounts by job, record them on each progress billing, and monitor release dates so nothing gets lost when projects close out.

Read answer

What does a bookkeeper do for a small business?

A bookkeeper records transactions, reconciles accounts, categorizes expenses, and produces financial statements that show how your business is actually doing. They keep your records accurate month to month so you have clarity on profits, cash flow, and what you owe.

Read answer

Full-service bookkeeping firm serving contractors and small businesses in MetroWest and Greater Boston. From monthly bookkeeping to job costing and payroll, we bring 20 years of hands-on business experience to your back office. Locally owned in Bellingham, Massachusetts.

Client Reviews

5-Star Rated Firm

© 2026 Janek Business Solutions, LLC