Periodic data Reports: A Complete Guide to Automation, Transparency, and Business Growth

Introduction

Periodic reports, also known as recurring reports, are essential tools for summarizing accomplishments, progress, and future plans. They play a critical role in managing business operations, maintaining transparency, and fostering trust with stakeholders like board members, investors, and clients. However, manually updating these reports, especially in tools like Excel, can be time-consuming and error-prone. Take Ron G.’s situation, for example. He spends hours each day moving columns of formulas and adjusting them to fit new data. This inefficiency highlights the need for automation to save time and reduce errors.

What Is a Periodic Report?

A periodic report is a formal check-in that summarizes business or app data. Its purpose is to track progress, provide insights for decision-making, and keep everyone aligned. These reports can be generated at various frequencies—weekly, monthly, quarterly, or even hourly, depending on the need. Unlike annual reports, which provide a yearly overview, periodic reports focus on shorter-term progress and fill the gaps between annual updates.

Why Are Periodic Reports Important?

Periodic reports are vital for several reasons:

1. Transparency and Accountability: They build trust by documenting progress and fund utilization, giving investors peace of mind about their investments.
2. Decision-Making: They enable data-driven decisions by tracking efforts versus results, helping identify risks, challenges, and opportunities for innovation.
3. Tracking Progress: They measure progress toward goals, allowing businesses to adjust strategies and set realistic future objectives.
4. Automated Data Aggregation: For app data, they track changes over time, generating actionable insights through logged results.
5. Efficiency in Data Management: Automating these reports eliminates manual updates, reduces errors, and improves scalability.

Key Components of a Periodic Report

A well-structured periodic report includes:

1. Executive Summary: A concise overview with bullet points or a table of contents for easy navigation.
2. Financial Data: Budget overviews, fund utilization, and visual aids like graphs or pie charts.
3. Progress Updates: Accomplishments, ongoing projects, challenges, and timelines to show progress toward goals.
4. Future Projections: Upcoming goals and realistic projections, with an assessment of past accuracy.
5. Aggregation Intervals: For app data, intervals can be hourly, daily, weekly, monthly, quarterly, or yearly.
6. Data Retention: Typically, the 30 most recent results are retained, while older ones are discarded.

How to Create a Periodic Report

Creating a periodic report involves:

1. Data Collection and Aggregation: Gather data from key players or aggregate app data at specified intervals.
2. Choosing a Format: Use pre-made templates or create a custom format that’s easy to navigate.
3. Setting Up Periodic Reports (App Data):
   • Navigate to the App settings icon, go to the Graphs tab, and click Edit next to the desired chart.
   • Select “Generate reports periodically,” specify the interval (in UTC+0), and click Save.
4. Establishing a Schedule: Decide on a consistent frequency (e.g., monthly) and stick to it for reliability.

Redesigning the Workbook Structure for Automation

To avoid manual updates, redesign your workbook:

1. Separate Data and Reports: Maintain one worksheet for raw data and another for summaries.
2. Setting Up the Data Worksheet:
   • Include key components like Codes (A3:A7), Products (B3:B7), Dates (C2:J2), and Data (C3:J7).
   • Assign range names using the Create Names dialog (Ctrl+Shift+F3).
3. Creating the Control Worksheet:
   • Add a new worksheet, remove gridlines, and enter settings like StartDate and EndDate.
   • Use formulas like =MATCH(StartDate,Dates,0) and =ROWS(Data)-1 to calculate indices.

Building the Report Worksheet

The Report Worksheet automatically summarizes data based on Control Worksheet settings:

1. Date Columns (E2:I2): Use formulas like =IF(OR(E2=EndDateIndex,E2=””),””,E2+1) to display date sequences.
2. Row Labels (A5:D5): Text values for identification.
3. Data Formulas (E6:I11): Use INDEX and OFFSET to pull data dynamically.
4. Summary Formulas (D6:D11): Use functions like SUM or AVERAGE to calculate results.

This approach ensures formulas adjust automatically to new data, eliminating the need for manual updates.

Notes on Setting Up Periodic Reports

• Chart Restrictions: Once set up, you can’t edit, duplicate, or change the interval for periodic reports. Always duplicate the chart as a backup.
• Permissions and Access: Only users with permission can view aggregated fields in generated reports.
• Deletion and Limitations: Deleting a chart removes all its periodic reports, and Pivot tables can’t use this feature.

Checking Aggregate Results

To view logged results:

1. Navigate to the Graph icon, select the chart, and choose a generated date.
2. Specify a time period to see how aggregate results have changed over time.
3. Note that users without record access can view reports but need field permissions.

Deactivating Periodic Reports

To deactivate:

1. Go to the App settings icon, select the Graphs tab, and click Edit next to the chart.
2. Set the Periodic Reports section to Inactive and click Save.
3. Past results remain viewable, but no new reports are generated during inactivity.
4. To reactivate, set the section to Active.

Tools and Resources for Periodic Reporting

• Business Reporting Tools: Tools like Mosey help with compliance and project management.
• App Data Aggregation Tools: Automation and templates improve efficiency.
• Best Practices: Plan intervals carefully, duplicate charts for flexibility, and regularly review results for insights.

Maintaining Compliance and Staying on Track

Compliance is crucial for business growth. Tools like Mosey automate tasks like tax and licensing requirements, allowing you to focus on strategic goals.

Conclusion: The Value of Periodic Reports and Automation

Periodic reports are indispensable for transparency, accountability, and decision-making. Automating these reports not only saves time but also improves accuracy and scalability. By adopting a consistent reporting schedule and structured workbook design, you can streamline your processes and focus on what truly matters—growing your business. Ready to get started? Schedule a demo or explore tools to simplify reporting and compliance today.