Reporting allows business owners to look at what's happened in the past, and what we need to keep in mind or adjust to go forward.
Some things to keep in mind from a calendar perspective:
Daily “magic number” reporting - but setting the target from a weekly perspective.
Monthly reporting - you want to be having a look at your management reports. That's not having a look at your tax report or your monthly BAS IAS; that's having a look at your profit and loss that's been set up so you can get information from it. It's detailed. The management report needs to tell you something. It needs to say, “hey, what do we need to do from an expense perspective”, or “can we hire another person?” That's the sort of decisions you need to be able to make from your management reports.
Quarterly reporting - calculate quarter to quarter in your business. You might have seasons, so quarterly is a nice time to see different fluctuations. If you have fluctuations month to month, a quarterly might average those and, again, give you a bit of guidance to the growth of your business. You want to be rolling forward your budgets and your weekly numbers every quarter, as well. And, again, something that's not bad is calculating what your business value might be every quarter.