Weekly Financial Review Checklist for Manufacturing
A checklist for reviewing your business financial position on a weekly basis, covering cash flow, receivables, payables, and budget performance.
Designed to support ISO 9001 quality management, workplace health and safety regulations, and environmental compliance reporting under Australian standards.
Complete Checklist
- 1Review the current bank account balances across all business accountsCritical
- 2Reconcile bank transactions against accounting records for the week
- 3Review accounts receivable and follow up on any overdue invoicesCritical
- 4Check accounts payable and confirm upcoming payment due datesCritical
- 5Review weekly revenue against budget and prior periods
- 6Assess weekly expenses against budget allocations
- 7Check the cash flow forecast for the next two to four weeks
- 8Review any pending loan or finance repayments due this week
- 9Confirm payroll is processed or scheduled correctly for the pay period
- 10Review superannuation obligations and ensure they are up to date
- 11Check for any unusual or unauthorised transactions in the accounts
- 12Review credit card statements for any unapproved or personal charges
- 13Update the weekly financial summary and share with relevant stakeholders
- 14Identify any financial risks or opportunities for discussion with the accountant
- 15File all financial documents processed during the week
Frequently Asked Questions
How do we manage late-paying customers effectively?
Implement clear payment terms on all invoices and communicate them upfront. Send reminders before the due date and follow up promptly when invoices become overdue. Offer multiple payment methods to reduce friction. For persistent late payers, consider requiring deposits, shorter payment terms, or using a debtor collection service as a last resort.
Should the business owner do the weekly financial review or delegate it?
In small businesses, the owner should at minimum review the cash position and approve payments weekly. Day-to-day bookkeeping tasks can be delegated to a bookkeeper or admin staff. As the business grows, a financial manager or accountant can take on more of the review, but the owner should always maintain oversight of the overall financial health.
What is the most important financial metric to review weekly?
Cash flow is the single most important metric for weekly review. Many profitable businesses fail because they run out of cash. Focus on your current cash position, expected inflows from receivables, and upcoming outflows for payables, payroll, and other commitments. Knowing your cash position prevents surprises.
Need help implementing these checks into your daily operations?
Our team can build custom checklists integrated into your daily operations workflow.