My current state
In Funancial, you can determine the current financial state of your operations using the provided dashboard.
Sales performance: current vs previous month
If you want to know where you are in terms of sales and whether you are likely to sell enough services this month, look at the 'Income' block.
The Income block helps you find out where you are in terms of this month’s invoiced sales. Compare this with the Average Income in the same block to see how you are tracking against the previous month, or average income over the past 3 months.
Gross Profits: current vs previous month
To determine if you are making enough profit on your sales refer to the 'Projected Gross Profits'. The 'Projected Gross Profits' is based on this formula:
Projected Gross Profit = (Income + Projected Invoices this month) - Cost of Sales in last 3 months
Compare the Projected Gross Profits with the Average Gross Profit in the same block. If this is significantly lower or higher than the average, do some investigation and find make sure that the difference is justified.
To determine if you should be concerned with this month’s operating expenses refer to the Current Operating Expense block. Compare the value in the Current Operating Expense block within the same block.
If Current Operating Expense block value is higher, investigate your operating expenses now! If this is lower, it is good but keep in mind that some of this month’s bills may have not arrived yet. Use the Current Month operating expenses information in the Company Health module and confirm that your operating expenses being managed well.
Determining if business is at risk
If the value in the Projected Net Profit block or the value in the Average Net Profit Averages panel is negative, there is potential danger. Start investigating now!
If your Projected Net Profit block is red, use the Company Health module to do some investigation.