Data that is up to date is worth its weight in gold. The more information you store over a longer period of time, the more valuable this data becomes. If you have been active for a number of years, you have gathered enough information to be able to say something meaningful about the results achieved. And by gaining insight into how you arrived at this result, it is possible to implement improvements and to achieve an even better result in the next period.
To be able to create powerful reports, you need advanced reporting software. A reporting program can be linked to, for example, your administration and ensures that data is transferred to the tool in real time. For users of SnelStart there is AdminView, reporting software specially developed for SnelStart users. In this blog we explain which reports are important for every entrepreneur, whether you are a SnelStart and / or AdminView user or not: these are the four financial reports that are important for every organization.
4 Reports that are important for every entrepreneur
- Liquidity planning
Money flows: every company has them. But what goes in and what goes out? And what is that money spent and how does it come in? If you have an overview of all flows, it is easy to prepare forecasts and goals.
Within AdminView we have the report ‘liquidity planning ‘. Here you have one overview of what the expected income and expenditure will be. If you click on the numbers, you can see exactly how these numbers are constructed. This not only shows you how your company is doing, but also what lies behind it. That saves you a lot of searching for where the figures come from.
- Period comparison
Liquidity planning allows you to look into the future, but past results are just as important. That is why it is smart to keep all data from previous periods and not to overwrite it.
If you have created a budget in a second SnelStart administration, you can compare it. This way you know at once what you have budgeted and what it really is. You can also compare multiple SnelStart databases in this report. If you click on the numbers you will see exactly how these numbers are structured. Budgeting with AdminView and SnelStart is easy.
- Payment behavior
Another thing in the line of money flows is payment behavior. Your own payment behavior and the payment behavior of your customers. Payment behavior is very important; the longer a customer delays to pay, the more difficult it becomes to properly manage your cash flow. After all, you also have payment obligations to suppliers.
A reporting tool shows which customers have not yet paid and which customers are always late with payment. This way, specific steps can be taken in this regard.
Your stock also causes fluctuating cash flows. This is because you have more or less stock at one time than at another. It is therefore good to know how much money you have in stock. This is not only important for yourself. Suppose you get on fire and your stock goes down. Of course you want to turn this into insurance work. At that time, the insurance also wants to know the value of your stock.