The workhorse card that you will use A LOT!
Written by Hannah Dawson
They are the ultimate in flexible reporting. One or many of the following things can appear on them:
- Financial data: Actual, forecast or rolling actual & forecast presentation of your data. You need a scenario created for the last two.
- Aggregation: As we store all data in its most granular form, you can view it transactionally or cumulatively (P&L data would be transactional and Balance sheet data would be cumulative by default)
- Non-financial data: You can import as much non-fin data as you need (on the organisation’s page, and hit the Settings button for your organisation)
- Formulas: this is where you get creative with what you want to analyse! Bear in mind that any formula you build can be saved to your formula library and can involve financial and non-financial data. They can also reference data in the past and can be used seamlessly for actual and forecast data!
Add Report Cards either from the Build your own section or by hitting one of the templates
Let’s illustrate this with a practical example.
Getting a grips on how fast your customers pay you can be the difference between business success or failure.
90% of business that fail because of cashflow issues. Depressing but true. But if you’re reading this, you’re a step closer to removing a tonne of risk, as you will at least be looking through the front, not rear windscreen.
You’re going to use a template and we’re going to edit it. Add a Card and head to the bottom section (Balance sheet), and choose Monthly Debtor Days (how long does it take my customers to pay me?):
There are 4 tabs and each do something different. They are illustrated below.
Click through the tabs and make the changes as per the image (listed below). I’ve also changed the name of the card and given it a description. (You can right click on the image below and view it in a new tab if you want it bigger).
Make these changes:
The Settings tab
- This is where you change organisations if you have more than one
- You can choose your data set. Do you want actual (from your accounts package), forecast or a combination of both (bringing budget/forecast data into play from our scenarios area).
- You can choose your date periods, and the direction of travel that the report will take too. We store all of your data in a granular way, so if you want to view daily data you can, if you want to roll that up into 2-week or quarterly periods you can. It’s your data, view it the way your business needs to see it.
- Choose actuals in this case and we need monthly periods for this report, but feel free to have a play.
The Report tab
There is a formula there already as this is a template, but this is where you
- Add accounts from your Chart of Accounts
- Account categories (such as Income or Cost of Sales)
- Add groups (categorising your Chart of Accounts into more meaningful groups is a MUST for brilliant insights that will personalise FUTRLI for your business. Head to the organisation’s page and hit the settings button next to it)
- Add non-financial data (import on the organisation’s page, again by hitting the settings button next to your organisation)
- Add formulas (KPIs, from our library or your own custom ones)
- Hit the cogs on the monthly debtors formula, you’ll get your first view of the formula builder. Change the name of the formula to “How long it takes my customers to pay me” and hit OK
The Display tab
This does what it says. It is where you:
- Choose whether you want the Card to show a table only, a chart or both.
- Choose what you display on the chart
- Choose the chart type you’d like
- Choose how big you would like the chart if a combo has been selected
- Change it to Combo
The Advanced tab
This is all things column formulas.
- Period variance analysis
- Start/end variance analysis
- Financial year to date
- Financal year total
- We need the Average one for your killer dashboard
Now…HIT DONE in the top right of the card, and watch it flip!
Here is the result
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.