Apps we love...Spotlight Reporting
Posted on 15 Sep 2020
If you have ever required a budget or forecast report prepared it is highly likely we would have used Spotlight Reporting. The ease of having data downloaded from Xero to provide this information is one leading factor of why we love this software. The information taken from Xero allows us to see what the business will look like and a report prepared. Management Reporting is one of the reasons why we would use Spotlight Reporting for your business where we can assist you to see what is happening in your business on a regular basis.? Other reasons include:
- Preparation of Forecasts for the next twelve months or into the future.
- Scenario Planning where we want to see what will happen if the business makes a certain decision on spending, or if it takes on a new client or supplier, or what it looks like if you borrow instead of using your own capital. There are multiple ways we can assist clients by using the scenario planning.
The visual graphs are great and help us to relay all the important information you need. Client examples and some reasons why we would use Spotlight Reporting include:
- A client who is looking to refinance and in order to evaluate the cost of the finance we prepared five-year forecasts including cashflow forecasts to see what the business would look like in five years.
- A client who needs a twelve-month budget/forecast for the bank to retain or renew funding.
- To prepare a valuation for a business based on future earnings.
- Reports to use in regular meetings with a client to focus on their financial position and show the improvements they have gained by certain decisions they have made strategically.
These reports assist us in improving your financial knowledge of your business, so you have the ability to make better business decisions. This software is one that is mostly used by Accountants, so if you have the need for further reporting please talk to us about your requirements.
