Take financial control with Vonto’s daily insights into your business accounts

Running a small business can feel like a juggling act. Trying to balance all your different tasks and responsibilities takes skill. Just one slipup and the other areas of your business can feel the strain, this is especially true for your finances.

This is why so many small businesses rely on accounting software to do the heavy-lifting for them. QuickBooks is one of the most popular accounting systems worldwide and we are glad to say that they are now a supported app with Vonto.

The QuickBooks integration means that we are able to serve you insights everyday based on your accounts. Finance is one of the most important areas of your business. Spotting trends in expenses, losses or unpaid invoices can avoid critical cashflow problems that can damage relations with your clients and employees.

Vonto’s free business analysis app goes through your data and serves you up to ten key insights each morning on anything from website traffic to social media engagement. Let’s have a look at some of the insights that Vonto can serve QuickBooks users through our app to make sure that you are always ahead of the numbers.

Table of contents

Profit

The profitability of a business is often a measure of its success. This is why it is crucial to have a true assessment of your current profits and contextualised information based on past performance.

Your gross profit for March was $12,492. In March last year, your gross profit was $10,244, so you’ve improved your profitability by 18.4%.

Keeping an eye on your year on year growth can make it easier to understand how your business is growing or if you need to make some changes.

Your net profit margin in March shows a loss of 18%. Was that due to an unexpected one-off cost? If not, you need to increase revenue, increase sales or cut costs to get back in the black.

As 2020 has already shown us, the unexpected can derail our best laid plans. A sudden price spike from suppliers, unforeseen overtime or renewals and repairs can sometimes be missed during busy periods. Vonto’s insights can alert you to unexpected changes to profits so you can fix any issues before they become major problems.

Invoices

One pain point many businesses have is invoicing. It can be hard to keep track of how much is owed, by who and for what. This is especially true for businesses providing a service that needs to be regularly billed, for many different clients. Our integration with QuickBooks can take some of the stress out of invoices.

4 of the invoices you recently issued just ticked past the due date. The total value is $17,000. Let’s make some calls and get that cash flowing.

Our insights are more than just a basic reminder. The contextual information, like how many invoices and their total value, quickly gives you an idea of how you should be expecting and so you can plan accordingly.

Cash could get tight soon. You have $1,964 of bills due within fourteen days and $1,534 in the bank. You’re owed $620 in invoices. Is it too early to start chasing them?

As the end of the month comes around and your own expenses have to be settled, it can be easy to count owed invoices as already paid in your own mental calculations. Your income from these clients could be essential in keeping your bank balance in the black. Vonto’s insights can show you more than just where you are short, but also what is owed to you, making your job easier as you follow up before there is a problem.

Sales

Sales are the backbone of many small businesses. As the main form of income, any issues or worrying trends need to be identified as soon as possible. Equally, it is important to know what is working so as not to miss out on any revenue.

You made $4,359 of sales in the week starting Sunday. That’s 8.7% higher than your average for the previous eight weeks, which was $4,010.

Here the main focus is on the average weekly sales. This can give you a quick overview of how your business is performing in a smaller time period. These short term averages can give you a good indication of what marketing campaigns are working, or if you need to change something to boost sales.

You made total sales of $94,596 in the twelve months ending in May. That’s up 12.1% from the $84,392 of sales you made in the previous twelve months.

Of course, sometimes week on week sales might be subject to seasonal fluctuations. Year on year sales can be a better indicator of your business’s health. These insights can be especially valuable in the current situation, when unpredictable markets can leave you with no idea what to expect. These figures can give you some idea of the demand that you would normally see. Then you can scale to fit your current capabilities, so you don’t have too much stock on hand or miss out on potential sales.

Cash Flow

Another important area to keep an eye on is your cash flow. Each business operates differently, some working with high volume sales, others working on large key accounts. Regardless, your cash flow focuses simply on what’s coming in and what’s going out.

Here’s your medium-term cashflow outlook. You currently have $32,507 onhand across all your accounts. Over the next 30 days you’ve loaded $12,104 of bills to pay in QuickBooks, and you’re expecting $4,425 in sales invoices.

Knowing exactly how much cash you have on hand can prevent you over (or under) estimating what you have to work with. With multiple accounts, different bills to pay and countless invoices going to different companies, working out a grand total can be tough, not to mention time consuming logging into many different services.

You have $32,507 cash on hand at the moment, this is 22% more/less than usual for the middle of the month.

Our cash flow insights are designed to make sure you stay on top of exactly what you have, so you can make informed decisions before investing or changing your operation.

The Takeaway

At Vonto we have the goal of making the overwhelming, simple. Countless log-in details to remember, different services to get your head around and pages and pages of data can mean that vital information gets missed. Our latest integration with QuickBooks grows our number of supported apps and means that we are able to serve even more insights to our users.

Now you know what kind of insights Vonto can offer you go ahead and download our free business analysis app to see what your data is telling you.