You will hopefully have seen our articles and posts in the past about the benefits of cloud accounting solutions like Xero and Quickbooks, which AAB are partners with. These are great solutions but only provide a snapshot of your finances based on historic data.
Wouldn’t it be great if you could see in one place how the finances of your business may look in the future as well as reporting on your actual results versus budgets? Well now there is an effective solution that won’t break the bank. AAB have partnered with a software provider, FUTRLI, which allows us to help clients understand how their business is performing and the future of their business in a timely, flexible and efficient way.
FUTRLI makes it easier for us to advise you on where your business is heading, compare actual results with budgets and key performance indicators. It also enables you to make informed decisions, based on real-time information, by creating different scenarios and review the impact on your profit and loss, balance sheet and, most importantly, cashflow.
To get the most out of FUTRLI, it is critical that you operate a cloud accounting solution such as Xero or Quickbooks since FUTRLI integrates with these packages allowing real time updates to be carried out.
Why prepare a financial budget?
Financial budgets, underpinned by comprehensive assumptions are a key management tool, no matter what size of business you operate. They can be used to quickly monitor trading performance against budget and identify any issues.
Good quality financial budgets substantiate the business strategy and give confidence to funders and other stakeholders that plans are thought through and credible.
What if I don’t currently use Xero or Quickbooks?
Even if you aren’t a Xero or Quickbooks user, we can still fully integrate your budget with your Xero reports.
We have a team of professionals with financial modelling expertise who can assist preparing your financial budgets and provide training to internal finance staff on the process.
Our financial modelling capabilities can be adapted to suit any size and complexity of business, from start-up businesses to large groups.
In addition to financial budgeting, we can also assist with preparing:
- Annual forecasts on a monthly basis with full Profit & Loss/Cashflow/Balance Sheet to assist with medium to long term planning.
- Sensitivity analyses to plan for alternative scenarios.
- Short-term cashflow forecasts on a rolling basis to monitor performance.
If you would like to find out more about how we can help with budgeting and cashflow forecasting, please contact Steve Mitchell (email@example.com) or your usual AAB contact.