Financial Statements: How does it work?

Basically, the Financial Statements tab in Dashboards helps you analyze and compare your financial performance effortlessly.

Let's discover how it works in simple terms 💪

Step 1: Choose Your Statement

You can start by selecting the financial statement you want to analyze - Profit & Loss, Balance Sheet, or Cash Flow Statement. Each one shows different aspects of your business's finances.

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Step 2: Select the Period

Pick the timeframe you want to review by selecting the start and end month and year.

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In addition to report frequency, you can also view your actual financial statements on a comparative, monthly, quarterly, and annual basis.

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Step 3: Comparative view

Now comes the exciting part! You'll see a detailed comparison of your actual results with your plan and previous periods. On one screen, you can analyze your Actual performance versus your Forecast, versus the Previous Period & versus the Previous Year.

Except for Actuals, the rest of the comparative periods show $ difference and % difference information 💪

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Step 4: Handling Zeros

👀 If you see many zeros, it means you haven't entered actual results for those periods.

No worries! You can input the actual data in the Actuals section. This way, those zeros will be replaced with meaningful numbers, making your analysis more accurate.

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Step 5: Customize the View

You can hide any columns you don't want to see, focusing on the areas that matter most to you. This allows for a cleaner and more personalized analysis.

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🔎 You can easily export them as PDF or Excel files. This makes collaboration and record-keeping hassle-free.

❣️ To gain a visual understanding of how Dashboards Financial Statements work, check out our informative video.