Create budgets based upon last year’s actuals

Every accounts transaction from last year can be converted into a new budget line in one-click. Seasonality fluctuations will get plotted automatically from your existing data

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Create budgets based upon last year’s actuals

A simple task that takes around 3 seconds in FUTRLI, but can give you some unbelievable insights into how much cash you’ll have this year, is to use last year’s Profit & Loss information to create a budget/forecast. It’s a great way to health check your cash based upon:

“If operationally, nothing changes and sales and expenses are just like last year, what does this year look like?”

Run the report and check out the chart at the top of the scenario!

Result 1: The cash graph has a downward trend


You are in a precarious position, unless you start to address the revenue you aren’t generating and the over-spending in relation to it. Were there seasonality fluctuations that you weren’t expecting?

This is an opportunity for you to meet with your team and advisor and work through the details of each month, where things started to go wrong and what you are going to do about it.

You need an action plan.

Result 2: The cash graph flatlines

Great, cash doesn’t look like it’s going to be a worry if everything stays the same. But it’s not great in fact. Is there inertia within your business? What do we mean by that? Well, you may be turning a profit, you may think your business can continue doing the same thing that it has always done, but if it can’t, it’s not sustainable.

Do either of these scenarios sound familiar?

  1. You’ve reached a ceiling on growth or profit and have a (slowly) worsening cash flow?
  2. There is a poor culture that drives the wrong behaviour within your firm?
  3. You are finding it difficult to attract and retain good staff
  4. There is an increasing level of customer/client churn.
  5. You have for whatever reason (maybe a combination of the above) a weakening brand and reputation
  6. Supplier relationships aren’t as strong as they once were.

You don’t want to be one of those companies that turn a profit for a couple of years despite not being run as well as they could. Flatlining could be around the corner at any moment.

We love the term “intrapreneur” here at FUTRLI. When you recruit and nurture a team to have a sense of ownership over your company, that every decision they make should be as if the business were their own, inertia has to make more of an effort if it wants to take a stranglehold.

As the owner of the company, how do you make your senior team accountable? How do you communicate energy and excitement about your offering? The personnel that you choose is key to your success so when you start hiring and continue to grow, engendering them into your culture is key. And if people don’t fit say your goodbyes, it can be incredibly damaging if your don’t.




Result 3: The cash graph is rising


Amazing news, you’re building a sustainable and profitable business! Your foundation is strong, but there is always room for improvement so work through the same process forecasting process that we have outlined here. 

You should consider is speaking to your advisor about wealth management. There are many options. Are you going to re-invest your profits? By being consultative, specialist wealth managers should be truly client-centered. A good wealth manager will meet with you without any presupposition about what financial products or services are appropriate for your needs and won’t push their own agenda onto you.

“FUTRLI goes even further by allowing you to look forward and create scenarios and forecasts to help a business owner steer their ship in the right direction rather than according to where it's been. It's why the front windscreen on a car is bigger than the rear window, so you can see where you're going rather than where you've been. Try driving your car home tonight in reverse if you don't believe me!” - Paul Meades

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