Set your Chart of Accounts up to get the most from it
Don’t overwhelm yourself with an unmanageable chart of accounts. If you use an out-of the box structure you might be missing some amazing reporting opportunities
CrunchBoards has been created to give your business, whatever its industry, clear insights into your its performance.
One thing that we have found since launching CrunchBoards is that nobody wants to be overwhelmed by data. It sounds obvious, but as Charts of Accounts either come “out of the box’, or are organised by accountants (who may not have met up with you prior to the business’s commencement and therefore do not understand the operational financial and non-financial KPIs that are relevant to you and your team), there can be missed opportunities.
Charts of Accounts are usually hidden away in your accounts package and accounts are added to it, ad-hoc, as your business evolves. But, if you think about what you want to measure, ensuring that transactions get plotted against accounts that are rich and representative analysis of performance, understanding the story of your business is fast and simple.
We would recommend that you take a look at each of our industry-specific areas. There you will find a sample Board with an introduction to some of the core KPIs that will give you insights. There is also a sample chart of accounts, a link to more KPIs, how to create them and examples of non-financial information you may want to bring into CrunchBoards when you subscribe and become part of our community.
“Just fantastic. I love the ease I can create a board and apply the same or similar board to another entity. Every client I've shown has gone "Wow". A weekly report for a restaurant now takes a minute instead of importing to an excel spreadsheet and checking data to ensure it is right.” - Martin Tunley