Where has Cash Flow Analysis gone. I don't know of any small business operater that doesn't rely on cash flow analysis 30/60/90 days, It's been in every version of MYOB that I am aware of, why omit i...
Reports: Cash Flow Analysis
2 years ago
Too true robcraw
I was once employed to assist a merchant company out of a serious financial mess, which involved taking over the financial reigns while trying to keep the Directors constantly in the loop. This is a dangerous job in that if you don't have a complete understanding of the financial situation very quickly, then things can go badly. Not to mention, you become the villian.
The very first thing I did was to export the Cashflow Analysis to Excel and then create a chart (updated daily) that clearly showed the predicted cashflow situation of the company for the next 3 months or so. Obviously, the second thing was to contact the critical suppliers and have a chat.
Within 3 months the hate mail stopped coming in and the Directors were completely board with the mechanics behind it all. At 6 months I was training one of the Directors to manage the cashflow system and finally at 9 months, we were back on course. I then handed back the reigns and made myself redundant. The Company traded successfully for another 10 years and then sold on to new owners.
I absolutely agree with your comment: "it seems we have too many IT/programming boffins dictating what we should have rather than what businesses actually need!" If these reports hinder the overall performance of the system, then it's their job to find a way to find a way to make them work - clearly the IT/programming boffins are failing at their job.
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