Making Financial Statements in Power BI That People Actually Want to Read

Even though Power BI is lacking the features to build financial statements, there is no denying the growing demand from businesses everywhere who want to harness the platform’s horsepower for this purpose. Financial reporting in Power BI presents significant advantages for preparers, auditors, regulators, users and analysts. The ability to build, analyze and visualize cash flow, income statements, balance sheets, and more can take financial health and performance to new heights, while maintaining data accuracy and consistency. However, it is nearly impossible to create reader-friendly financial reports and statements using only the built-in Power BI visuals. Many have tried, but most have fallen short of expectations by a frustrated CFO telling them “This doesn’t look anything like my old excel report!” Feeling the pain of users everywhere, the team at Profitbase rose to the challenge. In 2019 they released a custom visual in the AppStore of Power BI. Fast forward to today and the Financial Reporting Matrix is a go-to solution that enables users all over the world to make financial reports people actually want to read. Some of the explanations to the success can be attributed to its ability to give users the freedom and flexibility to format and style the way the data is presented and visualized.

Formatting for familiarity

Every organization is unique. They are made up of individuals with special skillset, mindset and personality that fuels the organizational culture. This culture shapes the expectations, practices, processes, and preferences of how to conduct day-to-day business operations. In addition to the culture, there is also the matter of the brand and how the company wants to present itself to the outside world. These two forces shapes and influences preferences for what a financial statement or report should look like. Being able to format and style reports is therefore key to align with these preferences and expectations.

Skimmable and easy on the eyes

People are busy, so they tend to scan before they read. If your report is jammed up with numbers, with no “breathing room” anywhere, it’s difficult for your reader to know what’s most important or navigate to areas of personal interest. In addition to skimmability, good looks and great first impressions can make a world of difference (yes, this is true even for financial reports and statements). Whether you are reporting on growth, assets, expenses, liabilities – or summarizing the entire financial well-being of the business, great design helps you attract, hold on to – and guide readers’ attention.

Want to see it in action?

After following discussions in forums and networks, Profitbase’s Power BI expert Anders Aano hosted a practical “show-don’t tell” kind of webinar to demonstrate how easy it can be to stylize financial reports created from Power BI by using the Financial Reporting Matrix. Check out the recording for some tangible tips and takeaways on how to make your reports look more appealing and reader-friendly, so that important sections are highlighted and readers can more easily find areas of personal interest. We wish you great Financial Statements In Power BI!

Making Financial Statements in Power BI That People Actually Want to Read

Formatting for familiarity

Skimmable and easy on the eyes

Want to see it in action?

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