Tools for financial management
On top of the corona crisis, it may be a good idea to thoroughly review your finances. Find tips to get started and get templates to give you an overview of what your 2020 numbers will look like.
You must put numbers on the crisis in order to see your options
To get an overview of your finances, you need to make a risk assessment of your cash resources and look at your future need for money. If you make use of the aid packages, and if you push your tax payments, for example, you also have to take into account what this will mean for your future.
Given the corona crisis, you should also consider, to:
- adjust your business budgets as soon as possible;
- get an overview of your debt situation and your liabilities, guarantees and mortgage conditions, including the consequences of deferring various payments over a longer period;
- get an overview of supplier agreements and other obligations;
- identify areas where liquid assets can be released;
- get an overview of capital needs;
- get an overview of resources, eg accountant, lawyer and trade associations; and,
- reassess your desired future.
Get an overview with the scenario calculator
Use the scenario calculator to get an overview of what your 2020 figures might look like.
Read the instructions (contained in the links) carefully or watch the video-guide (below), find the relevant numerical material - and then get started.
Liquidity budget
A liquidity budget shows whether you have enough money month by month to pay expected current expenses.
Indeed, many companies experience revenue variation. It can therefore be difficult to know how much money the company is dealing with from month to month. With a liquidity budget, you can take into account fluctuations and get an overview of your company's income and expenses.