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3 Reasons Why
Your Reports Are FAILING!

Free Guide For Finance Managers, MDs & Decision Makers

HBP Systems’ quick guide for business leaders and finance managers to aid in asking the right questions about your current reports.

In The Guide:

3 Reasons Why Your Reports Are FAILING!

Free Guide For Finance Managers,
MDs & Decisions Makers

“3 Reasons Why Your Reports Are FAILING” is HBP Systems’ quick guide for business leaders and finance managers to aid in asking the right questions about your current reports:

In The Guide:

  • Some home-truths about your business, your employees and your accounting processes.
  • Discussion on what questions to ask of your reports.
  • Discuss on the business logic behind your reports.
  • A look at the physical setup of your reports.
  • Advice on how to review your internal financial processing – plus get consultancy on how to setup your reports from scratch to make the information you need visible from the very beginning.

Staff make mistakes. Staff cut corners. And many staff simply don’t understand the correct way to do their job.

Excerpt From The Guide:

Staff make mistakes. Staff cut corners. And many staff simply don’t understand the correct way to do their job.

Excerpt From The Guide:

If the data entered into your system is poor then your reports will be inaccurate, misleading or meaningless.

The three biggest areas of concern that lead to poor financial and business reports are:

1. Staff Don’t Understand (or care about) Accounting
Any reports you create, but especially those led by your finance or accounting team, will aim to give you information to make better decision about your business.

For this to be accurate your staff need to understand how the data they input impacts commercial factors and ultimately how cutting corners and making mistakes will impact the meaning of the final report, and therefore the decisions made with it. Who knows, it could be the difference between a pay rise and them losing their job?

Have you ever asked your staff if they understand the difference between profit and turnover? How VAT works? Or the importance of cash flow?

2. Your Coding Process is Wrong
If you’ve never sat down and properly planned out the structure your accounting system with reporting in mind then it could be significantly better.

Have you thought about the key areas of your business that you need to know about? The areas that you need to make decisions about? The areas that mean whether you succeed or fail?

If you don’t know this then how will your staff code things correctly, especially if there are any grey areas? The failure to create a structured coding process will be a vital part of making your reports accurate and meaningful.

If the data entered into your system is poor then your reports will be inaccurate, misleading or meaningless.

The three biggest areas of concern that lead to poor financial and business reports are:

1. Staff Don’t Understand (or care about) Accounting
Any reports you create, but especially those led by your finance or accounting team, will aim to give you information to make better decision about your business.

For this to be accurate your staff need to understand how the data they input impacts commercial factors and ultimately how cutting corners and making mistakes will impact the meaning of the final report, and therefore the decisions made with it. Who knows, it could be the difference between a pay rise and them losing their job?

Have you ever asked your staff if they understand the difference between profit and turnover? How VAT works? Or the importance of cash flow?

2. Your Coding Process is Wrong
If you’ve never sat down and properly planned out the structure your accounting system with
reporting in mind then it could be significantly better.

Have you thought about the key areas of your business that you need to know about? The areas that you need to make decisions about? The areas that mean whether you succeed or fail?

If you don’t know this then how will your staff code things correctly, especially if there are any grey areas? The failure to create a structured coding process will be a vital part of making your reports accurate and meaningful.

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