It would be great to see a Cash Profit & Loss budget analysis report added.
I prepare my budget on a cash basis however many of my clients pay their invoices anything between 7-30 days. I'm ...
Hi Dan,
Thanks for your prompt response.
I was thinking it would be a combination of the existing Cash P&L and P&L Budget report. As People on accruals basis won't want to look at the cash reports and vice versa, there shouldn't be a need to change the budget area within the Chart of Accounts.
Thoughts behind the idea
I use the budget section as I allocate a certain amount against all the expenses / income per month that is reasonable for that month. I then track my actual costs and income against this to see if I have over or under spent anything. It also helps you plan what expenses are due when (eg. annual insurance premium). The Cashflow analysis/worksheet doesn't allow me to do this.
I include a growth factor in the budgeted income figures and then each month I see whether this target has been hit or not and then use it as a direction as to how to build my business further. This is the section I'm doing manually each month at the moment and would be great if it could be in a future MYOB update.
On a side note - I didn't use the Cashflow analysis/worksheet when I was using V19 as I find it confusing to operate. I'm now using AR2012 which doesn't have any Cashflow reports yet.