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Difficulty Forecasting and Budgeting

  • You are not able to see financial data from prior years.
  • Unknown how you do it today.
  • Files aren’t archived.
  • It takes long.
  • Unknown what happens if you can’t get the data.
  • It is difficult to see cash position and cash flow.
  • Unknown how you are doing it today.
  • With no drill down capabilities.
  • You need to add up current and projected financials manually.
  • Unknown how long that takes.
  • Unknown accuracy.
  • It is difficult to track and compare budgets.
  • Unknown how you are doing it.
  • You need to manually compare printed budgets.
  • Cannot view them on line
  • Unknown how accurate you think your comparisons are.
  • Reporting is cumbersome.
  • Do need to export information to excel to run queries.
  • Cannot see summary data.
  • Cannot drill down on detail.
  • Reporting is cumbersome.
  • You need to run multiple reports and compare information.
  • Cannot drill down on detail.
  • Cannot track entries.Cannot get records of past reconciliations.
  • Unknown impact.
  • You have to re-key information for fixed assets acquired via a purchase order or vendor invoice.
  • Cannot support multiple depreciation methods.
  • You forget to create new asset records and therefore miss out of tax deductions due to misplaced assets.
  • There is risk of potential theft if the company has no record of the asset and therefore they might not miss it.

About the Author: AJ Amjad Khanmohamed

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