Accounting: Finance Dashboard Take a look at the value the Finance Dashboard can give you. Sharon Mulligan
The finance dashboard will give an overview of your business performance at a single glance. There are several widgets giving you details on business performance such as Turnover, Receivables v’s Payables, Balance Sheet and Cashflow.
As a user you will be able to choose the number of weeks that you would like to see for example on the Turnover widget. The dashboard also has links to your Finance Reports which can be grouped in different sections, this will also include any reports specific to your localisation.
You will also have shortcuts to running your Financial Reports to PDF on the right side of the screen. This list will also include any customised reports and or reports specific to your localisation.
Turnover
Turnover is calculated as the sum of all the Journal transaction (local currency amounts) posted to any Revenue (Turnover) account for the time period, either week or month, based on Posting Date, according to the drop-down value selected. A Revenue account is one that sits under the Turnover header account in the Chart of Accounts.
The graph shows the amount of turnover according to the drop-down value selected:
1. Last 12 weeks
2. Last 6 months
3. Last 12 months
If Last 12 weeks is selected, a week is measured from Sunday to Saturday, i.e. on 14th February 2020, Last week is Sunday 2nd February to Saturday 8th February.
If Last 6 months is selected, then the horizontal axis of the graph will show in calendar months, starting with current month minus 6, then 5, then 4, etc. with Last month as the final point.
For example, on February 14th 2020, Last month is January 2020, month -2 is December 2019, etc.If Last 12 months is selected, then the horizontal axis of the graph will show in calendar months, starting with current month minus 12, then 11, then 10, etc. with Last month as the final point.
For example, on February 14th 2020, Last month is January 2020, month -2 is December 2019, etc.
Receivables v’s Payables
This graph shows the relative ages of all the outstanding sales and purchasing accounts documents.
The horizontal axis is labelled as follows to show the time period:
0-30
31-60
61-90
91+
2 colours are used to reflect the receivables and payables totals for each of those time periods.
The vertical axis reflects the top value in the period displayed.
The receivables total for each time period is based on the due date of the documents/transactions included. It includes all open balances from Sales Invoices and Sales Credits, unreconciled payment balances and any manual journals, using the local currency value. The total shown will be the same as in the Aged Receivables Report in your Financial Reports.
The payables total for each time period is based on the due date of the documents/transactions included. It includes all open balances from Purchase Invoices and Purchase Credits, unreconciled payment balances and any manual journals, using the local currency value. The total shown will be the same as in the Aged Payables Report in Financial Reports.
Balance Sheet
The Balance Sheet graph shows the relative percentages of the different sections of the Balance Sheet totals as at today's date.
Assets balance is the sum of all the account balances in local currency under the Assets section of the Chart of Accounts.
Liabilities balance is the sum of all the account balances in local currency under the Liabilities section of the Chart of Accounts.
Capital and Reserves balance is the sum of all the account balances in your local currency under the Capital and Reserves section of the Chart of Accounts.
Profit for Period balance is the calculated value in the Capital and Reserves section. This is calculated by Subtracting Assets and Liabilities and any values in the Capital and Reserves category in your Chart of Accounts.
Cashflow
The Cashflow graph reflects the forecasted increases and decreases in the cash accounts balance based on the due dates of all open sales and purchase invoices and credit notes.
The horizontal axis is based on weeks including this week, starting on the Sunday and showing the following 12 weeks starting at next Sunday, e.g. if today is 14th Feb 2020, this week is 9th Feb to 16th Feb, next week is 17th Feb to 23rd Feb, etc.
The vertical axis is the totals displayed over the time period.
All values are in Local Currency.
The calculations for This week are the sum of:
All cash account balances in Assets section of Chart of Accounts - GL Accounts flagged as Cash Accounts.
+ All overdue open sales invoices and purchase credits (where due date is less than the week start date)
- All overdue open purchase invoices and sales credits (where due date is less than the week start date)
+ All open sales invoices and purchase credits (where due date is within This week's dates)
- All open purchase invoices and sales credits (where due date is within This week's dates)
Add Next week, which is the sum of:
This week's total
+ All open sales invoices and purchase credits (where due date is within Next week's dates)
- All open purchase invoices and sales credits (where due date is within Next week's dates)
Week 2, which is the sum of:
This week's total
+ Next week's total
+ All open sales invoices and purchase credits (where due date is within Week 2's dates)
- All open purchase invoices and sales credits (where due date is within Week 2's dates)
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