MIS is the pack management actually uses — sales versus budget, gross margin, aged receivables, cash position, and statutory dues — produced on a fixed date after month-end. It is only useful if it ties back to the same ledger that feeds GST and the financial statements.
We agree the pack once, then run it every month from the closed books. Changes in the business (a new branch, a new product line) are added as separate sheets rather than as one-off workings on the side.