One of those new features Xero has introduced is the Business Performance dashboard. It is a suite of standard and advanced ratios of your business. A first glance the dashboard gave me flashbacks at those ratios I had to learn for the many accounting exams I sat. What do they mean for you? In reality many small business I work with are too busy or too small to use ratios. I totally appreciate that. However moving your business to cloud business platform is freeing up administrative time. Let’s take some of that time and reinvest it in understanding your business data, so you are in a position to take advantage of business insights readily available to you.
Here’s the deal. I’m going to provide you a with a short explanation of each ratio and how you can use it in your business. If you’re ready to stretch your understanding of your business, and improve your financial literacy, block out 15 minutes in your weekly calendar to watch these videos and explore the Business Dashboard.
It can be at wine o’clock, morning muffin time, or even on your smartphone during while you’re at the kids swimming lessons. Just give yourself 15 minutes a week to absorb this information and in turn use it in your business.
What I have created is a short video series deep diving into the standard ratios on the Business Performance dashboard.
The first video is really kind of bizarre – but with recent developments it’s actually difficult to find the Business Performance Dashboard.