What is a dashboard?

A dashboard in accounting software is a user-friendly overview that displays all relevant financial and business data at a glance. It serves as a central control element to quickly and easily get an overview of a company’s financial situation. Dashboards typically provide visual representations, such as charts, graphs and metrics, that summarise the most important information.

Features of a dashboard in accounting software:

1. Financial overview

• A representation of the current cash balance, bank accounts or cash flow to monitor the company’s liquidity.

1. Income and expenses

• A graphical or tabular view showing the company’s income and expenses, often broken down into different categories (e.g. operating expenses, taxes, wages).

1. Open items and invoices

• An overview of outstanding invoices and payment obligations, along with their due dates. This helps you to keep track of payment deadlines and collect receivables in a timely manner.

1. Profit and loss statement (P&L)

• A visual representation of income and expenses to show the profit or loss for a given period.

1. Posting overview

• An overview of the most recently posted business transactions, showing the current state of the accounting. It allows you to quickly check which postings have been made and whether they are correct.

1. Tax overview

• A presentation of the most important tax figures, such as VAT, wage tax or income tax, that still have to be paid or transferred.

1. Budget and forecast tools

• Functions for planning and analysing budgets, with the option of forecasting future financial developments based on current data.

1. Reports and analyses

• Quick access to regularly required reports, such as the balance sheet, profit and loss statement or cash flow statement.

The advantages of a dashboard in accounting software:

• Real-time data: Dashboards provide up-to-date financial data, enabling companies to react quickly to changes.
• Visual overview: The graphical representation of key figures makes it easier to recognise connections and make decisions.
• Time efficiency: Instead of navigating through multiple reports and spreadsheets, the dashboard provides a central point of access for the most important information.
• Proactive financial planning: With a dashboard, companies can identify bottlenecks or problems early on and take appropriate action.

Typical functions that can be integrated into dashboards:

• Filtering and customisation: Users can often customise the dashboard according to their needs, e.g. by time period (month, quarter, year) or by specific financial categories.
• Notifications and alerts: The dashboard can display warning messages when certain events occur (e.g. outstanding payments, exceeded budget limits).
• Interactive elements: Some dashboards offer interactive features that allow the user to view detailed analyses through clicks or filters.

Overall, a dashboard in accounting software is designed to provide an at-a-glance view of a company’s financial position and quickly provide decision-relevant information. It facilitates daily financial monitoring and helps with long-term strategic planning.