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GL Variance Dashboard – Balance Sheet
- Margin and amount analysis for Gross Profit, EBITDA and Net Profit
- YTD comparison to revenues and expenses
- MTD comparison to revenues and expenses
Who uses Balance Sheet Variance Dashboards and What are Some Key Analytical Features? In today’s fast-paced business environment, CFOs are under high pressure to supply end users like executives and the finance team with timely and concise Financial Dashboards. Companies use key features like the ones below to support their users with effective analysis that helps drive smart management of cash, receivables, payables and related processes.
- Interactive Actual versus Last Year variance tables by GL account
- Actual versus Last Year charts for Current- and Long Term Assets and Liabilities
- Variance (%) charts for Current and Long Term Assets and Liabilities
A Brief Description of the Balance Sheet Variance Dashboard Template Financial Dashboards like the one seen in the image above are interactive and parameter driven and typically contain sections with matrix reports that can be sorted by variance percent, as well as comparative charts. One of the important features that aid the user in the analysis process is the ability to click on any account row in the tables and see that GL account highlighted as a portion of each chart. Balance Sheet Variance Dashboards are often used in conjunction with revenue, expense and KPI variance dashboards.
Data Integration to Transaction Systems Most organizations these days want automated and streamlined planning, reporting and analysis. However, many of the benefits described earlier rely on best of breed Corporate Performance Management (CPM) tools and/or Business Intelligence (BI) capabilities as well as data marts or data warehouses that use pre-built integrations to the organization’s ERP system. Oftentimes, they also need integrations to other key data sources like CRM, subscription systems, payroll tools, etc. Modern, cloud-based ERPs like Microsoft Dynamics 365 Finance (D365 Finance), Microsoft Dynamics 365 Business Central (D365 BC), Sage Intacct, Acumatica, Netsuite and SAP have robust APIs which allow for dynamic integrations to CPM and BI tools that are fully automated and flexible to run on a schedule or on-demand.
Additional Resources to Aid with Research of Templates, CPM and BI Tools
- Templates from Solver that are pre-built and that work out-of-the-box using the Solver CPM cloud. Click here.
- Template examples: You find more than 500 CPM and BI Template examples here.
- Interactive Dashboard examples: Try Power BI dashboard templates from Solver here.
- Software evaluation and selection:
- Vendor Comparison and ROI (free interactive tool)
- Evaluating planning, budgeting and forecasting functionality
- Evaluating Financial Reporting functionality
- Evaluating Dashboard functionality
- Evaluating Data Warehouse functionality to achieve “one version of the truth”
- Demonstrations and other specific assets: Solver Tour Central
- Using third party analysts and consultants to aid in vendor selection
- Creating efficient processes: