With blossom just starting to unfurl on the trees, it’s the perfect time for a bookkeeping spring clean. To help make dusting off the business finances even easier, we’ve rolled out an upgrade to our Bank Feeds.
Users will now be able to bring banking transactions into Pandle which are up to two years old – that’s double the previous one year cut-off point!
Spring clean the business accounts
Reviewing banking transactions over a longer period is crucial for accurate financial forecasting and planning. For instance, Pandle’s Cash Flow feature enables users to see a detailed breakdown of cash flow based on historical transactions. If this reveals a cash flow pinch-point to be an annual event then, as the saying goes, fail to prepare then prepare to fail!
Businesses can use this information to implement necessary changes, such as credit control processes or renegotiating payment terms. At the very least it gives them a bit more time to try and make sure enough cash is available at the right time.
Setting realistic business goals
Businesses, especially start-ups, are always getting nagged about business plans, and with good reason. Targets can help keep efforts focused in the right direction, but it’s important to find the balance between wishful thinking and reality when setting them.
Now that users can import older banking transactions, these historical figures can be utilised for setting sensible targets. And of course, our range of reporting tools makes it nice and simple to monitor current performance against previous results, too.
It really does make the difference between spotting an issue and giving it attention early on, versus having an unpleasant shock at year end!
Transferring to Pandle
Now, we’ve mentioned this a few (thousand) times before. Here at Pandle HQ, making accounting as simple as possible is pretty much what we live and breathe. So, it makes sense that getting started as a Pandle user is nice and simple too.
With this latest update, it’s possible for new users to import even more of their historical banking transactions quickly and easily.
We’ll soon be ready to release a new proactive tool which will help make the transfer over to Pandle even more painless. But of course, our trained advisors are still here to help you make the switch – no hassle required.
Call 020 3393 7434 to find out how Pandle can support your business.