Why are we loving Syft? It can combine multiple Xero files together to create consolidated reports and better yet – consolidated cashflow!
You’ll know when your whole group could run out of cash or when to move funds between the businesses.
Lets look at an example
Parent Company has all the income and some expenses,
Son business pays lots of bills
Daughter business pays for the cost of sales
When does Parent Company need to send pocket money to Son or Daughter?
Will Parent Company run out of money?
Connecting Syft to the Xero files allows us to combine all 3 entities in the group and view a combined cashflow projection. We can use a combination of computer guesswork + our knowledge of what is in the pipeline to project what the overall bank balance would looks like. We can see we are ok for the next 90days with 1 pinch point.
A combined profit and loss report gives us an overall view of our position – without having to login to each file and glue the info together. We can eliminate the transactions between ourselves to see a true picture of how the group is trading.
We can view data in graphs – all the stakeholders can quickly understand how the business group is trading. And we can share certain reports by a link so the sales people can see how they are trading without accessing all the data or being able to make changes.
Think it might be time to consolidate your business group for streamlined 😉 reporting? Ask us for a Syft demo.
