The One Financial Report Every Creative Business Owner Should Review Monthly
Whether you’re a content creator, photographer, graphic designer, or social media manager, running your own business means wearing a lot of hats. You’re the creative force, the client communicator, the marketer—and often, the bookkeeper too. But when was the last time you looked at your numbers with intention?
If you’re not reviewing your financial reports regularly, you could be missing out on valuable insights that directly impact your business’s success. But don’t worry—you don’t need to be an accountant to understand the one report that every creative business owner should be reviewing each month:
The Profit & Loss Statement (P&L), aka Your Income Statement
This report shows you exactly how much money came in, how much went out, and what’s left over—your profit. It breaks down your revenue and expenses over a specific period, giving you a clear picture of your business’s financial health.
Why the P&L Matters for Creatives
As a creative, it’s easy to get caught up in projects and forget about profitability. You might be booking clients or getting paid brand deals, but if you don’t know where your money is going, you might not be making as much as you think.
Your P&L helps you:
Understand if you’re actually making money
See which services or products bring in the most revenue
Identify expenses that are eating into your profit
Make smarter decisions about pricing, spending, and investing
What to Look for in Your Monthly P&L
Top-Line Revenue: How much did your business make this month? Compare it to previous months to track growth.
Major Expense Categories: Are your costs increasing? Are you spending more on software, subscriptions, or contractors than you expected?
Net Profit: What’s left after expenses? If you’re consistently breaking even or losing money, something needs adjusting.
Trends Over Time: Are your income and expenses fluctuating? Knowing seasonal trends helps you plan ahead and avoid surprises.
How to Access Your P&L
If you’re using bookkeeping software like QuickBooks Online, you can generate this report in just a few clicks. If you’re not using any tools yet, it might be time to consider one—or hire a professional to do the heavy lifting.
At Balanced Roots Bookkeeping, we specialize in helping creatives make sense of their numbers. We don’t just input data—we help you use your data to grow with purpose and clarity.
Take Control of Your Creative Business Finances
Reviewing your P&L monthly can be a game-changer. It’s not about becoming a finance expert—it’s about gaining the confidence to make smarter business decisions.
📅 Book your free intro call today! We’ll walk you through your numbers, help you set up a system that works for you, and create a custom proposal that aligns with your business goals.
Let’s take the stress out of your finances—so you can get back to doing what you love.