The CFO, Financial Controller and Business Financial Management Reports that can ensure your business survives and grows.
Below are the most basic CFO, Financial Controller and Business Financial Management Reports you must look at everyday to ensure you know what’s really going on in your business financially. These reports can be produced from any of the main financial systems in the market today.
Sales Pipeline
Where are your sales coming from? This simple tool will give you an estimate on where your future cashflow is coming from. This is the first step in the day to day financial management of your business. Without sales you don’t have a business or cashflow. Below is an illustration of a simple sales pipeline template.
Accounts Receivable Ageing Summary
This is probably the one report that most businesses do look at, but few take the action required from it. This report should be reviewed daily and action should be taken on a daily basis. Be careful to ensure your report is showing you ageing of overdue status not just the age of the invoice. This will ensure you can quickly gauge who is overdue, by how much and make your collections action more efficient. The report example below contains fictitious sample data.
Accounts Payable Ageing Report
This is the one report a lot of businesses avoid! You need to pay attention to this report as it will ensure you don’t run into any issues like having your phones disconnected or your insurances expiring! Again, this report should be aged according to days overdue.
Cashflow Forecast
This is a tool every business should use. It is the single most important tool for seeing if and where you might have a cashflow shortage in the coming month or two. If you don’t use these then you absolutely must start today!
Avegna assists dynamic, fast growing business with financial and commercial management services. For a no obligation free initial consultation on how we can assist you and your business, please contact us.
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