Financial Forecasting

Good Habits are as easy to form as bad ones

Tim McCarver

Poor cash flow is the number one reason businesses fail.

Cash flow planning is critical to the survival and growth of any business.

How we can help….

Why we developed this service?

Cash flow planning is critical to the survival and growth of any business. Without establishing targets for the year you will be flying blind. Our most successful clients are those who’ve set targets each year and monitor their results on a regular basis.

What is involved?

Our team want to help you to set, monitor and manage financial targets and improve business performance. Together we will develop a Financial Forecast proposal unique to your situation. This will be based on discussions with you around target setting and the objectives you’d like to achieve.

On acceptance of the proposal we’ll ask you to complete a questionnaire and submit this with your last year’s financial records. We will then prepare a Financial Forecast with set monthly financial targets which will provide you with a monthly breakdown of all of your income and expenses for a minimum 12 month period.

We will then meet to discuss and review the draft forecast and finalise it. You’ll receive a copy of your Financial Forecast that can be uploaded into your own accounting system and used for finance applications.

Benefits of Financial Forecasting

• Sets appropriate goals and targets and monitor/maintain your cash flow on a monthly basis
• Gives you peace of mind and control over your cash flow
• Monitors and assists with your bank lending requirements and lease agreements
• Identifies how much you need to set aside for tax
• Forewarns you of potential cash flow challenges to manage and reduce the effects
• Helps you avoid costs associated with non-payment/late payment, i.e. penalties, interest and potentially sour supplier relationships
• Is a timely method of monitoring and evaluating your performance
• Clarifies how much revenue you really need to achieve the profits expected
• Helps support the development of your business strategies
• Provides continued direction and motivation for your Team
• Determines the future direction of your business and helps realise potential

Ideally a business should complete a Financial Forecast before every new financial year. However, any time is a good time if you are not currently monitoring your cash flow.
 
Contact us to discuss how we can provide clarity around Financial Forecasting, and help you to better understand what drives your business.