ESG reporting
The acronym ‘ESG’ stands for ‘Environment, Social, Governance’ and is primarily used in the (international) financial world. It covers issues like CO2 emissions, exploitation, tax evasion, and corruption.
The Value of a Business Plan
Creating a financial plan for the upcoming period takes time, and we know that reality changes slightly each month. So, what are some good reasons to invest time in this task?
The Difference Between Planning, Budgeting, and Forecasting
Budgeting typically involves estimates of income and expenses, as well as expected cash flow and debt position. This process is usually conducted at the start of a new fiscal year, and the budget is then compared monthly to actual financial statements to identify differences and define necessary actions.
Rolling Forecast
A detailed report shows what has happened in the past period, while a rolling forecast ensures that you and your team look forward each month. Rolling forecasts use historical financial data, the latest market developments, and up-to-date insights into opportunities and risks.
Planning and Budgeting; Top-Down, Bottom-Up, or Based on the Business Model?
Smartbooks supports budgeting based on your business model, making it easy to adjust and recalculate an annual plan. You can also compare an alternative scenario alongside the budget and actual figures. This allows you to keep track monthly of how revenue, costs, and cash are developing as planned.
The Smartbooks Implementation Process
Smartbooks is designed for organizations that want to professionally report, consolidate, analyze, and budget. To quickly and efficiently set up Smartbooks, we follow these steps: 1. Connect & Kick-off Establishing a connection to the general ledger is done via a connection menu in Smartbooks, typically taking less than 5 minutes. Multiple entities can be connected…