Inflation is something that affects us all, whether we own a business or not. The world’s economy can shift in an instant and when costs rise, it can put real pressure on personal finances. Brixx is designed to support you and your business. As a financial modelling and planning tool, it can help you to adapt to financial uncertainty with confidence. Read on to learn more.
Creating a financial forecast with no historical data is not about predicting the exact future. Instead, it’s about developing informed estimates based on research, business logic, and structured modelling. Learn more with Brixx.
We have created many informative articles exploring financial forecasting and business planning, and this time we would like to explore how to improve your business forecasts to make better informed decisions going forwards.
Once you’ve created a cash flow forecast, you’re in a great position to start examining future scenarios for your business. In this article we look at 6 common scenarios that almost any business should be modelling.
What is direct costs? Discover how businesses track expenses directly linked to production, from raw materials to labour, and why understanding these costs is key for budgeting, forecasting, and improving profitability.
Most people think of income as a pay cheque, but money can come from many different places. Understanding the different types of income is the first step toward smarter financial planning.
Uncertainty is the biggest problem when it comes to a fluctuating income. You know that money is on the way, but not necessarily when or how much. This makes it harder to commit to expenses, to grow, and even to pay yourself.
Most business owners understand just how important financial forecasting is. Even so, many approach it as a somewhat static exercise. Build a forecast, review it, approve it, and then ignore it until the next financial period! Just how often should you update a financial forecast – and, what does good practice look like?
Owning a buy-to-let property requires due consideration. While there’s the appeal of steady rental income, there are also many points of expenditure to bear in mind. As always, the difference between a positive investment and a financial headache comes down to preparation.
Designed to simplify complex forecasting tasks, Brixx allows accountants to create, manage, and consolidate multiple business forecasts in one streamlined platform.
KPIs help you to measure progress, efficiency, and financial health. By tracking the right KPIs, you gain a clear view of what’s really driving your business, and where to focus your energy next. In this guide, we’ll explore the 10 most valuable KPIs every small business should track, and show you how to model each one easily in Brixx, so you can plan smarter and make confident business decisions.
Having a business planning cycle helps your vision to keep on track, but what exactly is the process? Read more to find out how we manage it.
Financial modelling has long been associated with endless spreadsheets for enormous businesses. For many smaller businesses, the idea of building a model can feel overwhelming and unnecessary.
Planning revenue should feel like you’re creating a positive route for success. However, oftentimes, businesses will end up with a plan that’s more of a hopeful guess than a line of clear direction.
Learn how tools like Brixx help accounting firms work smarter, serve clients better, and stay ahead in a fast-changing industry.
As a new business owner, there will be a variety of financial reports and terms that you may not be aware of. One such example is ledger balance and available balance, which we explore in this article.
The prudence concept is a core accounting principle that means choosing conservative methods to understate assets and overstate liabilities, anticipating potential losses and recognising them early, and only recognizing gains when certain – without estimations or presumptions.
When looking to assess your business’ financial performance, one of the most important metrics to keep in mind is EBIT (Earnings Before Interest and Taxes). Keep reading to learn more with Brixx.
Financial forecasting is the backbone of any successful business, and having access to forecasting tools in your native language can make all the difference. That’s why Brixx is excited to announce support for eight new languages, making financial planning and analysis more accessible than ever before.
In today’s world, uncertainty seems to be the only constant. From consistent inflation, to global events that ripple through supply chains and consumer behaviour – navigating the future has never been more complex!
Property management accounting is simply the financial process involved in managing rental properties. Without it, it can be difficult to keep the business running smoothly. Learn more with Brixx.
The Sortino ratio is a risk-adjusted performance measure that is similar to the Sharpe ratio. Learn why it is important here with Brixx.
Year-over-year (YOY) is a financial term used to compare data for a specific period of time with the corresponding period from the previous year. It is a way to analyze and assess the growth or decline of a particular variable over a twelve-month period. Within this article we will explore what YoY is used for and why it is such an important metric for businesses.
Any investor with a genuine interest in the business will want to see detailed financial pitch deck slides to gain an understanding of the underlying assumptions driving the forecasts in your pitch.
In the world of business, there’s a critical distinction between different types of profit that can impact decisions at every level. One such concept is economic profit – a measure that goes beyond basic earnings to provide a deeper understanding of a company’s financial health.
For a lot of people, the balance sheet is one of the hardest financial statements to get to grips with. Even the most fundamental pillar of the balance sheet, why it needs to balance, eludes many of us.
The 13 week cash flow forecast is a tool for improving cash management in your business. Dedicating just a small amount of time to plan ahead can have great benefits and in this article we explore how you can take action now to avoid problems in the future.
There are dozens of reasons that a healthcare provider would want to plan their finances – as would any business. Learn more with Brixx.
Like all businesses, starting a photography business isn’t as simple as registering and getting hired as a freelancer in photojournalism. No need to fear, as this in-depth guide will provide you with all the details you need to start your own photography business.
If you’re reviewing the intricacies of financial reporting or wish to streamline your business’ financial statements, this blog post is your guide to understanding the essence and significance of the FAST standard. Dive in and discover how this standard is revolutionising financial reporting practices and empowering businesses in the finance sector.
Total costs refer to the overall business costs and expenses incurred when creating goods or services. Everything that your business spends to keep its operations running is accounted for within this financial metric.
This week, we’re looking at budgets and forecasts. Have you ever wondered what the difference is between a budget and a forecast? Or whether you need one or the other, or both? Find out the answers here.
Revision history, a feature often seen in document editing and software development, is vital in financial forecasting tools. In this blog post, we’ll explore the concept of revision history, its critical role in financial forecasting, and the numerous benefits it offers.
The spreadsheet still remains a staple across many finance departments. This raises an important question: Can they still help with FP&A? We will explore this notion within our article.
In this post, we’ll briefly cover the types of commonly found business forecasts and why forecasting is so crucial for your business. As a financial modelling tool, Brixx can assist you in many of your forecasting endeavours.
A rolling budget is a financial planning approach where the budget or forecast is regularly updated by adding a new budget period as the current one expires. It is often referred to as a continuous budget or a rolling forecast.
Deferred revenue is a critical aspect of financial management. However, it often poses significant challenges in accurate forecasting and tracking. For businesses that offer SaaS products or subscription based services, understanding and effectively managing deferred revenue becomes incredibly important for sustainable growth and financial stability.
Creating a robust financial model is a critical skill for businesses. Whether you’re a seasoned financial analyst or a new business owner looking to gain a deeper understanding of potential financial situations, building a model provides you with the framework to analyze future financial performance. This article serves as a comprehensive guide to help you to understand the key components of financial models, alongside best practices to set them up.
Do you have an established business? If you do, it’s important to have a financial plan. The good news is – creating a robust financial model is generally easier for existing business than for startups. As many of our customers are planning existing businesses in this article I’m going to give some tips and advice for planning these businesses in Brixx.
Effective financial planning is absolutely essential for a business’ sustained success. One such tool that can help to empower your business is the 3-way forecast. In this article, we delve into the importance of a 3-way forecast, taking a look at its components, exploring its strategic applications, and highlighting its pivotal role in shaping a resilient and forward-thinking business strategy.
Financial forecasting is critical for all businesses. However, the accuracy of these forecasts is a topic of ongoing debate. This article delves into the challenges surrounding financial forecasting, explores the factors influencing its accuracy, and discusses how to best and most accurately create accurate forecasts.
In this comprehensive guide, we’ll delve into the intricacies of the month-end close process. From understanding its importance to identifying the essential steps and best practices, this guide aims to be a road map for finance professionals. Whether you’re a seasoned accountant or new to the field, you’ll find valuable insights that can help you streamline your month-end activities.
Managing your business’ finances requires a firm grasp of financial concepts. One of these to be aware of is ‘net income.’ Whether you’re an individual striving to create a robust financial plan or a business owner aiming to assess your company’s profitability, understanding how to calculate net income is essential.
Starting your own business venture can be very exciting, but it often requires a critical ingredient for success: capital. Whether you’re a startup looking to turn your idea into reality or an already established business owner seeking to grow, securing the necessary funding can be an overwhelming tas
In a world where data is at the forefront of all businesses, the ability to understand and communicate data effectively has become a valuable skill. Data is not just numbers; it’s a story waiting to be told, which is where data visualisation comes into play. Read on to learn more about how visualising your data can help your business.
Return on assets (ROA) is a financial ratio that calculates the profitability of a business in relation to its total assets. This ratio is often used to assess how effectively a company is using its assets to generate profit.
Financial forecasts are key to helping your business make the unknown a little more known! Let’s take a look at the top 4 advantages of financial forecasting here.
Financial forecasting is a discipline shrouded in mysticism. How do people make predictions and why do people use it if they are never accurate? In this article we delve into these ideas and uncover why financial forecasting isn’t what you think it is.
In this blog, we will focus on Financial Planning & Analysis (FP&A), a critical element in business management that intersects finance, strategy, and decision-making.
The Rule of 72 is a fundamental financial concept that provides a quick and easy way to estimate the time it takes for an investment to double in value, based on a fixed annual rate of return.
So far this week we’ve looked at how to choose the right business model for your startup. Now, we’ll be looking at how to find the right type of pricing strategy to sell a new product. Your business model and pricing strategy are interrelated. In some cases, the pricing strategy you choose to adopt may even dictate your business model.
In this article in our series on the basics of Financial Forecasting, we take a look at how long your forecasts should be.
Spreadsheets are ubiquitous for a reason – you can use them for anything! But with increasing complexity comes the danger of human error. In this article, we look at how to avoid making a mess of your cash flow forecast spreadsheet, and suggest an alternative…
Capital budgeting enables informed decision-making regarding the allocation of financial resources for projects that contribute to the company’s growth and profitability in the long run.
Capital budgeting enables informed decision-making regarding the allocation of financial resources for projects that contribute to the company’s growth and profitability in the long run.
A break-even analysis is a critical metric for businesses as it provides valuable information about the minimum level of activity required to cover all costs. In other words, it helps businesses identify the level of sales required at which they neither make a profit nor incur a loss. This is the break-even point.
Whether you’re starting or you already have a clothing business, one thing which is often overlooked is the financial forecasting aspect of it. In this article I’m going to be covering how to create a cash flow forecast for a clothing business. I’ll cover the key areas with examples of their significance in a clothing business. Then, step by step, I’m going to build a cash flow forecast!
It is crucial to have effective financial planning for the success and growth of any organisation. To achieve accurate and insightful financial analysis, companies often turn to specialized software solutions. Two popular options in the market are Brixx and Poindexter.
In this blog post, we will compare two popular business planning software options: Brixx and LivePlan. By examining their features, usability, and pricing, we aim to provide you with a comprehensive comparison to help you make an informed decision.
In today’s competitive business environment, having robust financial planning software is essential for effective decision-making and long-term success. Two popular options in the market, Brixx and Futrli, offer comprehensive solutions to simplify financial forecasting, scenario planning, and analysis.
Journal entries are the recorded transactions that your business carries out. Every business activity that involves money – sales, purchases, salaries, loans, and more – will lead to at least one journal entry. It is a chronological record of how your business’s money is being spent or earned.
Scenario analysis is a technique used in various fields, such as business, finance, and risk management, to evaluate the potential outcomes of different future scenarios. It involves constructing and examining multiple possible scenarios to understand their implications and assess the associated risks and opportunities.
In the realm of finance, liquid assets are the lifeblood of financial flexibility. In this comprehensive guide, we delve into the world of liquid assets, exploring their types, importance, evaluation strategies, and practical tips for maximizing their potential.
Sales forecasting provides valuable insights and predictions about a company’s future sales performance. This guide will help you understand the basics of sales forecasting, its importance, factors affecting it, the variety of forecasting models available, and how to create an effective forecast.
As we step further into the digital age, there’s a seismic shift reshaping how businesses handle their financial operations. One prominent force behind this transformative movement is the integration of Artificial Intelligence (AI), specifically Generative Pretrained Transformers like ChatGPT.
This blog post delves into how ChatGPT can improve scenario forecasting in Brixx, offering a more robust, dynamic, and predictive approach to financial planning.
There are a huge variety of metrics that you will need to have understanding of when starting your own business. Return on Investment (ROI) is one of these metrics that we will be exploring today.
Understanding all elements of cash flow – including retained cash flow – can be quite a tricky task. We are here to help you understand more about how you can use it.
Financial forecasting and planning are essential for any business, big or small. However, traditional financial analysis methods can be time-consuming and resource-intensive. This is where ChatGPT, a large language model trained by OpenAI, can provide a valuable tool to assist your business financial forecasting and planning.
Debt factoring is a financial transaction in which a business sells its accounts receivable, or outstanding invoices, to a third-party financial company, known as a factor.
Debt factoring is a financial transaction in which a business sells its accounts receivable, or outstanding invoices, to a third-party financial company, known as a factor.
The debtor days formula is a useful tool for businesses to understand how long it takes to collect payments or debts. By calculating your debtor days, you can streamline your processes and improve your cash flow.
Understanding cash flow and the differences between cash inflow and cash outflow is critical for managing your business finances with confidence.
Choosing a new accountant for your business is an important decision that can greatly impact your financial success, and it can be a lot of pressure for new businesses or start-ups to even consider adding to the team.
An aged debtors report is a financial report that shows the amounts owed to a business by its customers, classified according to the length of time that the amounts have been outstanding.
Predictive analytics is the prediction of future trends and events using historical data, whereas forecasting is the process of making predictions about how your business will perform over the course of an extended period of time. Which is right for your business?
The integration between Brixx and Crunch means that you are able to visualise your company’s financial future and see the “big picture” Take a look at this Financial Forecasting Masterclass to see what this integration means.
A 3-Statement Financial Model is, in essence, a reflection of the three key financial statements. Forecasting those statements allows for the exploration of how a company will perform under a variety of different assumptions to help for growth planning.
A well-built 3-Statement Financial Model helps insiders and outsiders see how various activities of a firm work together to see how decisions impact the overall company performance.
When presenting your projections, having a structure is key as it will guide you and allow you to present your financial projections and models in the most effective and impactful way possible. Brixx simplifies the process.
A financial projection template is a structured format used to forecast your business’s future financial performance. This template typically includes various financial statements and metrics to help predict income, expenses, profits, and cash flow over a specific period. Learn more about getting started on your projections journey…!
Here at Brixx, we enjoy a bit of healthy competition and have done some of the heavy lifting for you by researching the leading forecasting software and planning tools available and comparing them to what we have to offer. We compare Brixx vs Float as cash flow forecasting and scenario planning tools
When looking at budgeting and financial scenario modelling for restaurants, identifying and understanding the effects that events and decisions will have on demands for your product line is key. By shifting to financial scenario modelling, you will be able to plan for multiple outcomes more accurately.
All business owners should be using forecasting for one reason or another. Especially for e-commerce, business forecasting provides a tentative roadmap so you can make smarter, more informed business decisions.
Financial modelling helps businesses predict future outcomes. Using the right tools for this will aid in achieving success.
Deciding on the best financial forecasting method can be a challenge as there are two primary approaches to consider: top-down and bottom-up forecasting.
This week we bring you a video demo of Brixx – a “back to basics” tour of the app that will teach you the fundamental principles behind Brixx so that you can get the most out of modelling in the app. Beginners welcome!
Get a free profit and loss template on us! Claim your template in this article, which features: equations to calculate totals, the ability to place your figures into the correct financial accounts and creates a professional financial report with ease – rather than expertise!
To produce effective and accurate financial projections for startups, you will need three key reports: a Balance Sheet, a Cash Flow Statement, and a Profit and Loss Statement. Read more about these
Financial modelling is seen as a niche activity. But, it’s actually the best and most natural way to make the most of forecasting. This week, we take a look through the applications of financial modelling, explain what it’s all about, and show how Brixx can make this seemingly complex activity simple and approachable for small businesses.
