Step | System | Area | Description | Responsibility | Deadline |
1 | NA | Processing of monthly numbers | Ensure that all steps for the monthly finance close have been completed
Monthly Finance Close Process - Ccube / TSS | Luke | WD 6 |
2 | NA | Preparation of the Board pack | Log into the Google Drive at the following folder location:
08 Ccube >> 04 Board & Shareholders >> 10 Board meetings
1) Create a new folder with the date of the Board meeting for which you are preparing the pack
2) When 1) complete, take a copy of the previous month Google Slides deck and move the copy into the newly created folder. This will be the pack that is prepared for the Board meeting.
NB: Do not move or refresh links within the prior month google slides deck as this should not be updated
| Luke | WD 8 |
3 | NA | Preparation of the Board pack | Year to Date (YTD) vs Budget slide
1) Ensure that the chart is updated. This will pull through the financial information that has been prepared as part of the monthly finance close process.
NB: If the layout has changed within Ccube Master, this will impact the range that is being copied into Google Slides. This may need to be updated on a monthly basis
2) Ensure that all footnotes are updated appropriately | Luke | WD 8 |
4 | NA | Preparation of the Board pack | Budget vs Outturn slide
1) Ensure that the chart is updated. This will pull through the financial information that has been prepared as part of the monthly finance close process.
NB: If the layout has changed within Ccube Master, this will impact the range that is being copied into Google Slides. This may need to be updated on a monthly basis
2) Ensure that all footnotes are updated appropriately | Luke | WD 8 |
5 | NA | Preparation of the Board pack | Monthly Cash generation slide
The purpose of this slide is to show the cash generation of the business from month to month. This information is prepared within CCube master and then the output is pulled through into the Board pack. The following steps need to be taken:
1) Go onto the ‘CFY’ tab within Ccube Master
2) Generate the monthly TB information from Xero. This should be added to the ‘Raw data’ section on Ccube Master
3) Add a new column to the cash flow analysis and complete a VLookup vs account codes in the Xero data. NB: ensure that the sum of the vlookup = 0 to ensure completeness of the balances
4) Update the movements column to ensure that you are comparing the current period vs the prior month.
5) Add commentary to explain significant variances in cashflow
6) Ensure there are no material differences on the cash flow | Luke | WD 8 |
6 | NA | Preparation of the Board pack | 52 week cash flow forecast slide
The purpose of this slide is to model for a 52 week period the expected cash flow position of the entity.
1) Go onto the ‘CCube Forecast FY24’ spreadsheet. Then refer to the ‘CF’ tab.
NB: There should be no manual inputs on this spreadsheet, except for the VAT section. So do not include any manual inputs. All inputs are input on the CF-A tab.
2) Update the assumptions on the CF-A tab. This should include the following:
- Date of the cashflow (first cashflow week ensuring that always select a Monday)
- Period end date
- VAT Creditor as at the period end date (per Xero)
- Opening cash position as at the end of the period date (per Xero)
- Unwind of debtor book assumptions. Assume 60 days and this should reflect the aged receivables balance per Xero as at the period end
- Unwind of creditor book assumptions. Assume 60 days and this should reflect the aged payables balance per Xero as at the period end
- There are a number of other individual assumptions that should be reviewed for completeness, but month on month change is not expected. These are all included on the ‘CF-A’ tab
3) When all assumptions on the CF-A tab are updated. Complete the following on the CF tab:
- Manually update the VAT creditor to ensure that the payment reflects the expected outpayment per the VAT date assumptions. The assumed payment amount should be equal to the VAT creditor as per step 2 above.
| Luke | WD 8 |
7 | NA | Preparation of the Board pack | ARR slide
1) Update the table for ARR based on current position within the business. This should not change significantly month on month
2) Update assumptions where applicable
| Luke | WD 8 |
8 | NA | Preparation of the Board pack | Gap to meet the FY24 revenue forecast slide
This slide will require discussion with Alistair as part of the preparation of the Board pack. This will require agreeing with Alistair the latest position on the underlying spreadsheet to which the table in the google drive is linking through to. When agreed, these figures need to feed through into the Board pack.
| Luke | WD 8 |
9 | NA | Preparation of the Board pack | Recurring customers to invoice slide
This slide needs to capture customers where the contract renewal has started within 60 days from the end of the reporting period and we have not yet invoiced the customer. For all invoices that have been issued, but are unpaid, these should not be captured here as they are captured within the aged debt slide.
1) Review with Alistair and Eddie the recurring renewals tracker. Agree the latest status of all renewals and ensure Eddie has updated the master renewals spreadsheet.
2) Filter on the spreadsheet for all renewals where the existing support is expiring within 60 days from the period end date and we have not yet invoiced the customer. Populate the table in the Board pack based on these characteristics.
NB: Ensure that where we have invoiced the customer on Xero, they are not included on this slide to avoid duplication
| Luke | WD 8 |
10 | NA | Preparation of the Board pack | Non-recurring customers to invoice slide
This slide needs to capture implementation projects where we have not yet invoiced the customer.
1) Review with Alistair and Eddie the non recurring tracker. Agree the latest status and ensure Eddie has updated the master spreadsheet.
2) Filter on the spreadsheet for all projects where we have not yet invoiced the customer and the project is live. This should be included on this slide.
NB: Ensure that where we have invoiced the customer on Xero, they are not included on this slide to avoid duplication
| Luke | WD 8 |
11 | NA | Preparation of the Board pack | Aged debtor book slide
Log into Xero and run the aged receivables report as at the period end date. Take a screenshot of the output for this and include commentary (in the footnotes) to explain any material issues | Luke | WD 8 |
12 | NA | Preparation of the Board pack | Customer projects slide
1) Update the google sheet using the latest information in the non recurring tracker as agreed with Alistair and Eddie.
NB: The google sheet should just be duplicating the information in the centrally maintained non recurring tracker. It is not possible to link through directly to the non recurring tracker as that is a document maintained in Excel on Sharepoint
| Luke | WD 8 |
13 | NA | Preparation of the Board pack | Sales pipeline slides
The purpose of these slides it to capture the latest view of the pipeline opportunities of the business. All this information is maintained in the CRM tool, Hubspot. Follow the following steps:
1) Confirm with Alistair that all updates within Hubspot have been made for the month
2) On Hubspot >> Sales >> Deals. When on the Deals screen, select the report ‘Board View of Sales - TLL’.
3) Export the report from step 2.
4) Open the excel file of the report from 3) and copy this information into CCube Master on the ‘Deals’ tab.
5) There is an issue with importing the total recurring and non-recurring. Therefore manually apply a sum up formula for columns G and J within the Deals tab on Ccube master
6) On the deals tab in Ccube Master, the ‘slides’ section shows how this information will be pulled through into the tables in the Board pack. ENsure this is up to date and all entries on the deals tab have been captured
7) Refresh the tables in the google slides document for the Board pack
| Luke | WD 8 |