Financial Pulse

1. We rely primarily on our bank balance to financially measure our business. (Give a rating out of 5 for each question; 1 being weak and 5 being strong in each area)

2. We regularly forecast our cash position for the next three months

3. Our business is making a regular profit that fuels the expansion of our business

5. Our bank and credit cards are always reconciled to our accounting system on a weekly basis.

4. We can link our cash balance to our profitability. It makes sense.

6. We are fully up to date with accurate lodgements and payments of BAS, PAYG, Super, Payroll Tax

7. Our Accounts Receivable and Accounts Payable are within terms and accurate.

8. We clearly understand our business is solvent.

9. We review monthly the business Profit & Loss report, Balance Sheet and Funds Flow Statement.

10. We have a financial dashboard with the right financial statistics to run the business well.

11. We measure the cash that is locked up in our business - stock, debtors, deposits, assets and equipment, delayed customer billing.

12. We set aside a regular monthly time with our management team to review the financial results and set the financial priorities for the next period.

13. We have a clear strategic plan for the business which is fully supported by a financial forecasts.

14. We track and monitor our monthly financial performance against our forecast/budget/targets.

15. Our organisation produces forecasts for both our Profit & Loss and our Cash Flow and we update them regularly.

16. We know the profit margin we are making on each of our core products.

17. We know exactly who our most profitable customers are.

18. Our business understands and has access to the many sources of capital that are available.

19. We know the value of the company for a third party, and we are clear on the levers that grow that valuation.

20. Our company qualifies for Government Grants and we do receive funding received