How to avoid mistakes when reporting
Cloud automation significantly reduces risk factors in reporting. Using Futrli’s flexible date options you can quickly and simply select the appropriate date range for your report, and know the data is correct. Our integration with Xero and QuickBooks Online means you can trust that everything you put in is exactly right.
When you first started out, Excel spreadsheets may have been the best way to keep control of your financial data. As you grow, however, you’ll find you lose control over your transactions. Therefore, it’s best practice to get all of your financial data on a flexible cloud accounting platform from day one.
Reduce risk with Futrli
If you’re new to Futrli, using a template will get you going. The templates available (alternatively, you can create your own) are versatile, so you can copy them and scale up with automation. It shows you the past, present and future all in one place.
Because we’re integrated with Xero and QBO, you’ll know the data you’re seeing is accurate and in real-time. Futrli allows you to view your reports in a few different ways: pie charts, bar charts, graphs and tables. Visuals often have much more of an impact for people than a ‘wall of numbers’. And considering patterns in figures are more easily identified with visual data, you’ll begin to understand what your numbers mean soon.
It’s good practice to be in the habit of displaying your data in an easy to understand format. From board meetings to team meets, the people involved in your company need to know what your goals and targets are.
Streamline your day by making the most of available services
Regular meetings with a management accountant, VCFO or advisory accountant will help you to drill down into your figures and start understanding what they mean. Make sure your meets are frequent, as businesses evolve and shift a lot in short spaces of time.
You’re putting yourself at a massive advantage over competitors by using real-time data. Putting it into a forecast will see you able to make business-changing, confident decisions. Your accountant can help you strategise to meet targets and goals too.
Measure in smaller portions for more control
Measure KPIs shows you a departmentalised break down of how every part and every person involved in your business is performing. If you’re attempting to keep a grip on the ins and outs as a whole, it can become overwhelming so don’t make yourself do harder work than necessary.
Using automated software, you’ll know – and be able to trust – that your numbers are accurate and you can use those to strategise your next moves. Because of the nature of business, you cannot afford to be taking risks without knowing there’s a good chance they’ll pay off.
Start enjoying the buzz of taking risks with the odds in your favour. Get your reporting on the cloud, forecast your future figures, all the while being able to check in on your granular information at the tap of your screen.