Page 7 - Management Report Matrix Guide
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ABOUT THIS REPORT
The P&L Budget Performance report helps you drill down from the Company Scorecard to help you understand the numbers behind the trends.
A high level summary that lets you have meaningful conversations with your management team about actual vs. plan – This report lets you see where you missed the mark and what needs your attention.
Sharing this summary report with senior management helps make sure they understand any variance from plan. Your next decision is whether you need to adjust your forecast based on your actual results.
ACTIONS TO TAKE
Responding quickly to a changing landscape is the key to seizing opportunities or avoiding disaster. QuickBooks lets you create a budget as well as revised “forecasts” that responds pro-actively to any changes.
» Look at the % Budget vs. Actual - See the difference between what you estimated vs. reality. Did you underestimate or overestimate?
If revenues are going to be short, adjust hiring and spending.
If expenses are going over – put the brakes on before it’s too late.
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