Short and longterm financial reporting is important for an organisation, to know and monitor the progress and the direction of its financial health.
It is a requirement to be sure invoices can be paid, and income is monitored, and the budget is not exceeded.
- Business plan
- (yearly) Budget:
- (yearly) Financial statements:
- General ledger:
- Project reporting: at the end of a (large) project, you need to make a financial analysis
Some banks deliver CAMT.053 statements in XML format. This allows for easy and detailed financial reporting via Excel. You can filter on certain periods, or transactions, or create a pivot table to report on expense claims management.
For most standard environments, a straight incremental Excel download is sufficient.
Tip: you better keep all bank transactions per year, for each of the bank accounts.