|This article walks you through the various elements of the Forwardly dashboard.
|At the end of this article, you should have a fairly good idea of the information available on the Forwardly dashboard.
|Estimated reading time
Introduction to the Forwardly Dashboard
For every business you add to Forwardly, we generate a dashboard overview of available bank account balances and summarize the business's receivables and payables.
In this article, we will be doing a quick walk-through of the various elements that you can expect to find in the dashboard.
Accessing the Dashboard
When you log in to the Forwardly app, you will be presented with a list of all the businesses that your Forwardly account is connected with. Once you click on a business, it will take you to that business's Dashboard.
For easier understanding, we have broken down the dashboard screen into multiple macro areas.
- The header
- The navigation menu
- The overview
The header area is where the business information is located, as well as the Sync button.
Right next to the Sync button is a widget that displays the elapsed time span since data from the connected accounting software was successfully synchronized with your Forwardly account.
Sync reminder notification
In addition, this is also the area where you can expect to find system notifications (if any) for important or critical operational aspects that you need to act upon. The system will notify you once every 24 hours in case you haven't synced your account recently.
|Tip: Curious about how syncing works? Learn more here.
The header area also displays your login information, like your name and your account's admin menu. You can access the account's admin menu by clicking on the Options button.
The navigation menu
The navigation menu area houses links to various top-level pages available within your account. This can be thought of as the gateway to every single functionality accessible for your account. Currently, accessible modules include the Dashboard (this screen); Payments; Cash Flow; Business Settings; and Support.
Forwardly provides an at-a-glance overview of the most significant parameters of your financial and accounting data. At the top, you will find two critical figures that every business needs to keep a sharp eye on: Account Balance and Receivables and Payables.
The Account Balance section is where the total balance of all connected accounts is listed. The default view shows the balance of your accounts as per your Accounting data. If you click Bank it will show the balance of all connected bank accounts.
The Receivables and Payables section provides a quick glance of how much money is due or overdue in the business's AR or AP. To see a full list of outstanding invoices and bills, users can visit the Payments module.
Another important aspect of your financial accounting system is the cash flow, which is the net amount of cash being transferred in and out of a business in a given month. Cash flow is important for any business since it indicates the overall operational profitability of a company; a healthy cash flow is critical for running a company smoothly.
The cash flows are depicted graphically using positive (Cash In) and negative (Cash Out) flows. Red indicates a fall or negative balance, while black indicates growth or a positive balance.
|Tip: Check/uncheck the Cash In and Cash Out buttons towards the top right of the bar chart to see their impact.
Last/Next 30 Days
Below the cash flow graph, you will find a 60-day window that displays the total amount of cash moved (actuals), and system projected to be moving (forecasted) in and out of your business in the past and next 30 days, respectively.
- Change in Inflow shows the cash in performance during the current and upcoming 30 days. These calculations are based on the previous and current month's performance.
- Change in Outflow shows the cash-out performance during the current and upcoming 30 days. These calculations are based on the previous and current month's performance.
- Average Balance is the average amount of money you held or are going to hold in your business account in the past or next 30 days. It is evaluated based on the last 30 days and the next 30 days' closing balance.
- NSF Days are the total number of days your business didn’t have or is not going to have enough money in its account to cover expenses in the past or the upcoming 30 days.
- Cash In/Cash Out shows the exact cash as of the current date in actuals and based on evaluated forecasts.
The Forwardly dashboard is a convenient tool that provides a summarized view of some of the most important aspects of your financial accounting data. By leveraging the dashboard, you can quickly gain an overview of a business's cash financial health and make informed decisions.