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Money Manager - Budgets and Cashflow Forecasting made easy
MoneyManager links to your MYOB data and enables you to produce flexible budgets to predict where your business is heading.
Two Keys MoneyManager enables you to plan your business finances. It gives you the tools to forecast your income and expenses and predicts your likely future cashflows.
In MoneyManager you will enter your expected sales, Cost of Sales and Expenses to produce a Profit and Loss budget. This will show you whether you are likely to make a profit during a specific period and how much that profit (or loss) is likely to be.
Knowing in advance the direction in which your business is heading will enable you to make informed decisions - you can see your bank manager well in advance of needing extra funds, and can foresee necessary staff intakes.
How does MM Work?
MoneyManager simplifies your budget process by linking to your MYOB file, saving you double-entry of data. It helps you create the budget based on a previous year's data and then provides reports to easily compare budgets to actuals.
Step 1 - Open MoneyManager and link to your MYOB file
The first time you open MoneyManager it will ask you for the location of your MYOB file and extract your accounts and transaction history. You don't need to set up accounts in MoneyManager - they will all flow through from MYOB. And if you add an account later that will be added the next time you update your information, slotted into the correct sequence in your reports.
Step 2 - Set your Options
You need to tell MoneyManager which bank account you are using, how your GST is paid and set a few other options the first time you open a new file.
Step 3 - Create your Profit & Loss budget
The simplest way to create your first budget is usually to take last year's numbers and add a percentage for inflation and growth. You can then go through line by line and fine-tune the budget based on your plans for the year. You can set different percentage increases for some accounts, you can calculate one account as a percentage of another, you can adjust an annual total and it will automatically adjust each month proportionately. If you have existing budgets in Excel or some other source you can copy and paste them to MoneyManager. If you've ever gone through the process of entering budgets in MYOB you can import those to MoneyManager. You can create monthly budgets for jobs or categories and consolidate them into a Master budget.
When creating budgets for subsequent years you can base them on existing budgets, thus speeding the whole process. Budget for up to 25 years ahead if you wish.
Step 4 - Create a Balance Sheet budget
To get a complete forecast of what is happening in your business you should budget for capital expenditure, loan repayments and other balance sheet items.
Step 5 - Set a Payment Type for each account
In order to forecast your cashflow you need to tell MoneyManager how each account is paid or received. This can be a very simple process and only takes a few minutes.
Step 6 - View your reports and charts
Whether you prefer numbers or the visual appeal of charts MoneyManager will give you the information you need to manage your business - compare actuals to budgets for any date range, for a job or selection of jobs, view your projected cashflow or your balance sheet.
Step 7 - Review each month
Next month, simply open MoneyManager, refresh the link to your MYOB file and run your reports
RRP: AU $510.00 (incl GST)
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Money Manager Brochure | (179Kb) |