The Ultimate Guide on How to Build a Financial Dashboard: Tips and Best Practices


A financial dashboard is essential for any business or organization that wants to keep track of its financial performance. A financial dashboard provides at-a-glance insights into a company’s revenue, expenses, profits, liabilities, and cash flow. With the help of a financial dashboard, business owners and top executives can make informed decisions about their company’s financial health and identify areas that require attention. In this article, we are going to explore the best practices and tips for building a financial dashboard that can help you to achieve financial success in your business.

  1. Determine the Key Metrics for Your Financial Dashboard

Before building a financial dashboard, it is essential to determine the key metrics you want to track. This could include revenue, expenses, profits, cash flow, debt, and other key performance indicators that will help you to analyze your business’s financial performance. You should also consider the frequency and format of the data you need to track these metrics. By understanding these metrics, you can make informed decisions and ensure that your dashboard is an effective tool.

  1. Choose the Right Financial Dashboard Software

Once you have determined the key metrics for your dashboard, you need to choose the right software to build your dashboard. There are many financial dashboard tools available in the market, and you need to choose the one that best suits your needs. Some of the best financial dashboard tools to consider are Zoho Reports, Microsoft Power BI, Tableau, and Google Data Studio. These tools offer various features that can help you to build a custom financial dashboard that meets your specific needs.

  1. Design Your Financial Dashboard

The next step is to design your financial dashboard. When designing your dashboard, you should consider its functionality, simplicity, and purpose. A good financial dashboard should be easy to read, interpret and analyze, and should reflect the metrics that you have identified as key to your business. An effective financial dashboard should also be visually appealing and easy to use. You can achieve this by using colors, graphs, charts, and other visual elements that help to represent financial data in an intuitive way.

  1. Use Real-Time Data

To get the most out of your financial dashboard, it is essential to use real-time data. Real-time data allows you to track your financial metrics in real-time and make informed decisions based on the most up-to-date information. The dashboard should be updated automatically to reflect the latest data, and alerts should be set up to notify you of any significant changes.

  1. Make it Accessible

Finally, it is essential to make your financial dashboard accessible to everyone who needs to see it. You can achieve this by creating different levels of access for different users, so that employees, investors, and stakeholders can access the dashboard and get the information they need to make informed decisions about your business.

Building a financial dashboard is a crucial step towards achieving financial success for your business. By following these tips and best practices, you can build a financial dashboard that provides at-a-glance insights into your business’s financial performance, helping you to make informed decisions and take proactive steps to grow your business.