With cloud technology like Xero, we have come a long way in enabling small business owners to better manage their bookkeeping, and benefit from real-time insight into the results of their business. Gone are the days of bringing a pile of papers to your accountant and only finding out how your business performed at tax time.
Today, we can look at an income statement or balance sheet at anytime and see the current status of the financials. But, numbers only financial reports can only get a business owner so far in understanding where the business is headed and determining what actions to take.
A hot trend in the big business world is to develop a “Dashboard” to provide management with a better view of the results of the business at a glance. The Dashboard focuses on key financial and non-financial metrics and can highlight trends, successes, or issues using a visual representation of the information.
This ability is now available to small business owners too. Our approach is to focus on six key areas that pull in components of the income statement and balance sheet and highlight results and trends around revenue, profit, and cash. In addition, we have the capability to compare results against high level targets, detailed level strategic plans, or prior year data.
The goal is to provide reporting specific to your business in a format that is easy for you to understand.
Beyond Financials Consulting is now offering custom dashboards for Xero clients starting at $25 per month. We will define the six key metrics most important to your business and design a monthly dashboard from there.
Take a look at the sample dashboard below. Your dashboard may look similar or can be designed to report completely different metrics. Reach out if this is something you would be interested in implementing for your business.