You can’t run your business effectively without financial scrutiny, predicting cash flow and any potential bumps in the road must be an integral part of your business planning.
Xero recently announced two new features which will help you have greater insight, one word of warning though, predictions are only as good as the information entered into Xero, accurate data is key! Business snapshot: This new feature is a visual dashboard of key financial metrics showing your business performance at a glance. You can view a range of metrics including income, expenses, the average time to get paid and the average time to pay suppliers (debtor and creditor days). Over time you will be able to identify trends!
Short-term cash flow: This tool takes all the relevant data from your Xero account – like your bank accounts, bills, invoices – to give you an up-to-date view of your business’ cash flow in one place. Using this data, it projects your bank balance 30 days into the future, showing you the impact of existing bills and invoices if they’re paid on time.
Now with these new tools, you can get real-time and on-demand insights!
Have you been making use of these new features? #xero #xerogoldpartner #xeroaccountant