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Flash Reports are used by finance professionals, business owners and C-level executives to quickly grasp the company’s crucial metrics. This template is created by Flash Report by LiveFlow & GrowthLabFinancial.
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Bookkeepers, Accountants, CPAs as well as Fractional CFOs become better advisors to their clients and save hours of time of manual work with Flash Reports. C-suite and Business Owners, in their turn, can compare their performance month-to-month, same period last year, or each individual month this year to last year.
Flash Reports are irreplaceable to spot threats and opportunities for companies of all sizes. It’s is the tool you can use to prevent problems ahead of time and make your company more successful.
Below you will find a Flash Report template developed by GrowthLab Financial, a Finance as a Service company that serves Founders and Management Teams with Financial Planning & Analysis, Bookkeeping, Accounting, Virtual CFO, and Tax Advisory & Planning Services.
This report was first presented by GrowthLab’s Director of Corporate Development & Strategy Korey Cournoyer during The Appy Hour Webinar hosted by certified QuickBooks ProAdvisors Liz Scott and Heather Satterley.
The Flash report consists of 5 different areas:
Check the webinar with a step-by-step video instruction here starting from 57:28 min.
To create a Flash Report, you will use Profit & Loss, Balance Sheet and Cash Flow reports from QuickBooks Online.
= HLOOKUP(search_key, range, index, [is_sorted])
It searches across the first row of a range for a key and returns the value of a specified cell in the column found.
This formula will grab your month as a search_key and then will look at the entire account & month range from the Balance Sheet. Then you need to specify the row index of the value to be returned and set up the [is_sorted] status as FALSE to get an exact match returned.
You can copy and paste this formula from the template:
=HLOOKUP(C$4,'Balance Sheet by Month'!$A$10:$R$28,6,false)
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You can find more free templates such as Consolidated P&L, Marketing P&L, Budget vs Actuals, P&L MoM by Class and others in the LiveFlow Template Library.
To create live Flash Reports that will automatically update the Profit and Loss, Balance Sheet and Cash Flow reports, install LiveFlow for free here.
Open the template. Click on File, then click Make a copy and save it to your drive.Open the template
Connect your spreadsheet to LiveFlow, so you can import live data to your template.Connect to LiveFlow
Personalize the template and connect live data so you don't have to update it manually.See how
Flash Reports are used by finance professionals, business owners and C-level executives to quickly grasp the company’s crucial metrics.