Whether your bookkeeper or business manager is not up to date with the latest tools available to help you manage your finances, this the australian data room provides the best indications for your indications for financial success!
Your initials for financial success! This online tool from Accounting Relief provides quick and easy access to a variety of tools for analyzing your comparative financial statements. The Comparison Tool for Financial Management (CFML) is designed to allow the use of charts, graphs, tables, and other graphical data to show the results from a comparative analysis in a format that is easy to interpret. The tool uses a familiar format for inicals for financial success called “the horizontal analysis.” This format is simple to understand and allows you the freedom to focus on key points while still analyzing data in a more efficient manner than a table or dashboard format would.
Most people are familiar with the comparison function in Excel.
You can enter a list of product prices in ascending or descending order. You can then view your data in graph form or data table. The comparative financial statements will return the data that is most comparable in terms of price, sales volume, and average sale over time to the entered list of products. The data table in the CFML tool is organized by product, department, or region for easier review of pricing trends over time. Using the data from the CFML data table, you can analyze your data for profitability using multiple methods such as the Horizontal axis option and the Day range option in the Financial Analytic Summary module.
One popular option for business analysts in Microsoft Excel is the commonly used Common Size excel template.
The CFML tools in the template allow you to conduct basic data comparisons over common size formats. The results in the tables in the Common Size template are comparable when you compare data for different dimensions in Excel (range, columns, rows, and pie charts).
Another popular option for Excel and other data analysis tools for financial statements and budget planning is Microsoft Money. This is a very flexible financial statements and budget planning software package that provides basic financial statements in almost any common size format. It provides a wide variety of charts and graphs and a variety of other tools including the ability to export data to external databases. The Financial Planning and Analysis Center in Microsoft Money is very user friendly and designed to be simple to navigate. The Financial Analysis Center in Microsoft Money also offers budget planning and financial analysis tools in the form of worksheets and templates.
QuickBooks
QuickBooks is another popular accounting software package that includes a variety of common financial tools such as bars and line charts and the ability to export data from reports and documents. QuickBooks also includes its own version of the Financial Accounting Template Tool, which allows users to easily import data from a spreadsheet or external database. One key advantage of using QuickBooks in conjunction with your other budgeting and accounting software is that data can be shared between budgeting and accounting software. This is particularly useful for companies that have employees working in separate departments that require different methods of tracking expenses.
Microsoft Business Partners
The third option for financial tools in Excel is the Microsoft Business Partners. This accounting software package has a variety of tools including a spreadsheet related to a cash flow analysis. The spreadsheet used in the Cash Flow Analysis works with pivot tables and Microsoft Excel’s ranges function for displaying customer bill payments. The spreadsheet in Business Partnerools allows for the calculation of average rates by the sales department for the last five years.
Regardless of which accounting software you decide to use, having financial tools on hand is going to allow you to manage and track your budget accordingly. This will make it much easier to accurately determine what needs to be done and when. Having the proper tools on hand will make budgeting much easier and much less of a challenge. In addition, if you are using one of the budgeting and accounting software packages that only include a financial side of things, but not the other side, having financial tools such as this in conjunction with the software will make it much easier to manage. As long as the data is in a format that can be easily manipulated in Excel, most software packages will have the tools necessary to do a good job in this area.
