The Goals view
Goals is the view of the financial plan that allows you to set, visualize, and track your sales and expense goals, i.e. expected turnover.
This provides you with a clear view of the financial performance of your business, identifying areas of opportunity and allowing you to take corrective action as needed.
Its integration with the Cashflow view provides a complete view of financial performance. By setting variables such as VAT and payment terms, you can understand how budgets affect your cash flow, facilitating more accurate decision-making and optimizing your company's financial management.
Learn how to create specific growth goals and explore different scenarios to see how they affect the profitability of your business.
Table data source
In the Goals view, the data is obtained from accounting, specifically from journal entries. In particular, they are based on the accounts in groups 6 and 7 of the accounting.
For example, if you create an invoice that generates an accounting entry, the value of that entry will be reflected in goals. If you delete the invoice, but not the journal entry, you will still see the value in goals. If, on the other hand, you delete the journal entry, the value will disappear from goals, even if the invoice still exists.
☝🏼 Cashflow considers when payments are received, while Goals does not consider collections and maturities. Only when the accounting information already records outstanding payments will the P&L take them into account.
Some basic concepts
These are the main concepts you will handle in Goals:
Revenue: the total money generated by sales or services rendered during a period. It reflects the money coming into the company before deducting expenses.
Cost of sales: the direct expenses associated with the production of goods or services sold, such as raw materials and direct labor. Represents the cost of generating revenue.
Other expenses: indirect expenses not directly related to production, such as administration, marketing and rent. They are necessary for the general operation of the company.
Profit for the period: the difference between total revenues and expenses (cost of sales and other expenses) during a period. It indicates whether the company has made a profit or loss.
☝🏼 The notation "(2.4K)/1K" indicates that the performance achieved to date (realized) is 2.4K (e.g., euros), exceeding the established goal of 1K units.
Set up groups of accounting accounts (groupings)
In the "Goals" view, the accounting accounts are grouped into three main categories:
Revenues: accounting accounts of group 7.
Cost of sales: accounting accounts of group 6.
Other expenses.
You can group the structure of the accounts as you see fit, adding groups and subgroups or changing the order.
☝🏼 The way accounting accounts are grouped in the Goals view is not replicated in Cashflow, where accounts cannot be edited or moved from their group.
To set up ledger account groups in the Goals view, follow these steps:
Go to Analytics > Goals.
Go to the three dots button (top right), and click "Set up groupings".
Do any of the following actions:
Create groups or subgroups: through the "New group" (top) and "+" buttons (to the right of each group line).
Edit or delete groups or subgroups: using the edit (pencil) and trash buttons.
Expand or reorganize groups or subgroups: using the expand (arrow) and move (six points) buttons that appear when you hover the mouse over the accounting account line, on the left side.
Click on the "X" in the upper right corner to finish setting up accounting account groups.
The side panel
The side panel is key to better understanding your treasury data. Scroll it by clicking on any cell in the table, either in the Goals or Cashflow view.
☝🏼 If you were already in the edit mode of the table, then click on the icon in the upper left corner of the cell to access the panel.
In the “Goals” view, there are only cells in accounting account rows. In the upper part of the panel, you will see the actual and the goal (referred to as accounting accounts).
In the lower part, you will find the movements, which correspond to accounting entries. If you click on any of these movements, an accounting entry will open for you to review.