5 Steps to Your Business Health Check and Killer Dashboard: Step 3

Are you on top of your customers? Find out by using our Report Cards

Written by Hannah Dawson

Am I a bank for my customers?

Getting a grip on how fast your customers pay you can be the difference between business success or failure.

90% of businesses that fail do so because of cash flow issues, but if you’re reading this you’re already a step closer to removing a ton of risk as you will at least be looking through the front, not rear windscreen.

Again – you need one of the card templates so go back to ‘Add Card’ then scroll to the bottom section (Balance sheet), and Monthly Debtor Days (how long does it take my customers to pay me?):

This is a “Report” card type (you can see a generic version of this in the second image above the snapshot). It is your workhorse, and while this template is set up with a formula, you’ll use this type of card for A LOT of your insights. Any account, category, account group, non-financial data, formula (KPI), historical and future periods for actual and/or forecast data over daily, weekly, fortnightly, monthly, etc. periods can be surfaced here. A huge list, but the point is that they are pretty neat and super flexible!

Back to the Card you’ve just added. It’s a great opportunity to give you a whirlwind tour of how to use it.

There are 3 tabs and each does something different. They are illustrated below.
Click through the tabs and make the changes as per the image (listed below – click it to see it larger). I’ve also changed the name of the card and given it a description.


1. Settings tab – no changes needed, but this is where you change organisations if you have more than one, choose from actuals, forecast or a combination of both – more on that one later! Choose actuals in this case.

2. Report tab – there is a formula there but this is also where you add accounts, account categories such as Income or Cost of Sales, non-financial data and custom groups you may have made.

Hit the edit pencil on the monthly debtor’s formula and you’ll get your first view of the formula builder (Don’t worry if this looks daunting at first, it is actually very easy to use and we will take you through how it works as we proceed onwards). Change the name of the formula to “How long it takes my customers to pay me” and hit OK



3. Charts and Tables – You can choose how you want to display your data on the graph by clicking on the chart icon. We want to show both a table and chart, so ensure you check Table and toggle Large Chart.


4. Columns tab – all things column formulas. We need the Average one for your killer dashboard

Now…HIT DONE in the top right of the card, and watch it flip! (Bear in mind that this will be the slowest time you ever take to do this!)

The result is here:

But…you can’t see a lot of the figures. And where is the average? Never fear! You’re going to make the card bigger.
Hold your mouse on the 6 dots on the right side and drag to the right to double width. NOTE: You can also reorder your cards by holding your mouse down on the title area of the card and dragging to a new position.

The important number overall is the average.

You can change the report on the Report tab to look at a different set of periods, perhaps the last 3 or 6 months. Maybe this is worth doing on a new board after this exercise in case there are any trends that the average over 12 months is masking.

This average number is important because it indicates whether you are running a tight ship or not. The majority of our customers stipulate 30-day credit terms for their customers as per the invoices they send out, but this is often not the case.

In the example above you can see that this business is effectively a credit facility for their customers who take 200 days to pay them. You’re going to use your average number in the next step (hopefully, the number hasn’t been a shock).

Step 4: What does the next 12 months look like? An intro to Scenarios & the power of a Dashboard that looks ahead

Step 2: Creating the Dashboard and getting 5, essential, fuss-free insights from a Snapshot