CIC Association

Serving Community Enterprise

We are trying to establish the best way to forecast our financial status on a quarterly basis. One of our board members wants to analyse our accounts each month, working out from income and expenditure what we have 'spare' to spend. We know about ring-fencing things like wages, cost of utilities, rates, etc., but is it practical to revisit the position month on month? If it is, does anyone know who to do it without using up too much time of our monthly Board meetings?

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Sorry - I meant - how to do it, not who to do it!

Hi Alan, there are plenty of software packages (SAGE, Xero, Quickbooks) out there which will allow you to enter expenses in there (such as wages, rent, rates, etc) for the coming months along with what income you are projecting. This then could be updated to actual each month ready for your meeting. The initial set up is the time consuming part but once set up you are updating monthly actuals and tweaking the months ahead. 

Hope this helps?

Thanks

Andy

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