cash floats This is a topic that many people are looking for. khurak.net is a channel providing useful information about learning, life, digital marketing and online courses …. it will help you have an overview and solid multi-faceted knowledge . Today, khurak.net would like to introduce to you Full Demo – Float Cash Flow Forecasting & Management. Following along are instructions in the video below:
“Like i had testified in court and in the book that um. I met him him when i was around 14 14 and a half to me i used to be a tomboy so i was always with like gang members or like surely do this and stuff. And i didn t have a boyfriend and i wasn t a pretty girl. I think he approached me and you know he started taking that he even came to my house.
I met my family and you know my family s like for him used to watch movies and stuff. And you know as a little girl. I thought you know oh wow. You know i have my boyfriend.
First boyfriend. I used to like try to run away from home before and i always got caught so this time. He was like oh come with me i changed your life. He come to new york and i was loved so after six months of like dating this dude.
I decided okay i ll come with you and when i ran away with him like maybe like a week later a few days later that s when he said you know we were running out of money you know it s time to we gotta have a shelter food to eat and all this stuff. And he said he knows a way to make money and that s what he started on spinning the game to me to like work on the track on the street and when i refused he like almost beat me to death. And that s how i turned out into who i am today like he gave me that name cash back for our. I used to like bow down to a man like whatever he was telling me to do like jump you jump like you know in the pimp cane.
You have to keep your head down. And i looked at another man it s all about work work work and money money money you don t have a mind of your own and i used to i put up with it for a lot of years and then you know like when i can tina how she just hit him back one day and you know she just found the strength inside her that s the same thing that happened me. And it was like an amazing chapter in the book. So judge and then they couldn t deport me.
Because i had proof from the fbi. But my mother filed missing children s report and then she went to the fbi and they had pictures of him and pictures of us. I like i never pressed charges. But the cops took pictures one time when he beat me up outside.
So they showed that in court. Too like everything had evidence so i got to stay in the country. When i turn. 19.
And i got arrested for the gun charge so that was escorting. It was undercover cops. So they try to deport me. But they did it because i was pregnant for my pimp babies.
So they told me the only way you can stay here. If you stay with your family and they put an ankle bracelet on me. So that was my first time being back home and my family. They like gave.
Me my space like my own room with my son and they gave me a laptop. Which i haven t used in years because i was just used to being in the street. So i made it to her and it was just like my face was like a black shirt like i didn t you know expose nothing and you know bow on everybody started following me. And that s how we all connected through the internet.
Everybody just started following me you know hitting your dms and dams go through somewhere else. And everything just started jenna. She was an escort she was in the pimp like she was surfing. She was working some of the artists i meant to was through her like if they want another girl so when my name started coming up.
She felt like she should have credit and instead of like you know being in the background..
Like you know i have your back five all the blood. We do this together whatever i m in the front right now you know. But we still working together and instead of her doing that she just went nuts and she tried to like take credit for everything. That s when i spoke to him was 2011.
When i was locked up and we haven t spoken since then he s he s gonna know. But he s gonna know i had to do what i had to do to make sure he has a home clothes on his back and food. And he s well taken care of he s gonna know what end of the day was all for him to survive. I m not gonna be doing what i used to be for like being reckless and you know that wild stuff.
But i m gonna still do me just not like criminal wife yeah. I regret anything that says ever leave in my families should work it out you know parents should be attentive of their children because you never know where they re gonna end up like look high end it up all because i left my own can update manually by clicking this button next we ll take a look at the cash flow graph this graph shows you all the cash moving in and out of your business. You can go back into the past and forward into the future these arrows allow you to move up to three years ahead. The blue line is your cash balance.
Which is a combination of all the bank accounts and credit cards that you ve included it s made up of the cash budgets that get it into float as well as the expected payment dates on upcoming invoices and bills you can do the line on a daily weekly or monthly basis. But the daily view gives you much more detail and shows you all the ups and downs in the coming weeks. And months you can look back the last three months. Historically which grows up to a rolling six months once you ve started using float for three or more months.
Hovering your mouse over the line shows you your day by day bank balance. If you switch over to budget. Progress. You ll see these green and red bars.
Which correspond to your total cash in and to cash out in past months. Red for cash out and green for cash in and in the current and future months. You ll see unpaid invoices and bills in the middle green. And red shades.
The lighter bars surrounding these your total budgets or forecasts. So you can see in the past. How accurate your forecasting has been next you need to take a look at the upcoming invoices and bills and that bills to pay and invoices to taps float is one of the only cash flow tools that imports all individual invoices and bills from your accounting software to automatically populate your forecasts making it ideal for short term planning. But because of this you do need to go to the invoices tier and the best pay taps to ensure that the payment dates are accurate.
So you can see we ve got a couple of notifications here letting us know that we have overdue invoices and bills. If we look at invoices g. We can see this graph showing us when we re expecting cash payments in and if there s a red bar that lets you know that you have over to cash expected today. I can see that i have turned outstanding invoices.
So invoices that have not yet been paid and reconciled are matched. And i have seven over two invoices so those ones are past their due date. And then of those i have four that i passed they re expected payment date. So invoices that are past the date that you thought they would be paid on as you can see there s a difference between the two dates and the expected dates the due date comes from your accounting software and can t be changed.
But the expected date can be updated and float. And you want that to be updated to when you think the cash will end to all leave. The bank account. So these invoices that are past their expected dates are causing inaccuracies in my cash flow.
Because float assumes that they are payable today. So if there are any invoices past their expected dates that aren t going to get paid today you could have an inaccurate forecast to fix that you can change your expected payment dates you can see here. The original due dates coming in from the accounting software to the left you can see the expected payment takes. If you re a zero user who sets expected dates on invoices.
We do pull those through deflate..
If you want them to be in both float and zero. Then update. Them in xero fast and run a sync with float. Because vote is cash based you need to project when invoices and bills will actually be paid rather than when they ll hit your p l.
This will then show you an accurate picture of how much cash you ll actually have in the future. For instance. Let s imagine this client city limousines has promised to pay all of their outstanding invoices by the end of this month. I ll search for their invoices and then update the expected payment dates for all of them you can do that by selecting the ones.
You want and then go into batch actions and then set expected date here. You can choose to add a number of days on to all of their due dates or pick a specific date. Now i m going to pick a specific date to the end the month. You can also do this individually and use one of these quick options to move an outstanding invoice or veil to the future for this invoice.
I know the client is bad at paying us and i m just really not sure when they ll pay so i m going to exclude that from my cash flow for now. I can always be included and it won t be deleted in the accounting software at all it will just not factor it into the forecast. You can also use the search bar. If you have a lot to sort through once these invoices and bills get paid and reconciled or matched.
Then they ll automatically be removed from this area in case. You re wondering all these changes only happen in float. So we don t push any data back into your accounting software and we do update from your accounting software automatically every 24 hours and you can see the last time this happened up here. These same rules also apply to the bills to pay section.
So you or the person who deals with collections in the business is to regularly go through all of the invoices that are due and bills that are owed and update. Them with a realistic expected payment date. But not every transaction will be related to a bill or an invoice and that s where the forecasting comes in your cash. Flow.
Table includes all the information about your business s cash. It contains all your historic transactions as long as they ve been matched or reconciled information about all the bills and voices that you have due and your forecasts. That aren t necessarily tied to an invoice or a belt. We group your chart of accounts lines into cash in and cash out.
We also have net cash movement at the end. If there are any lines here that you think might be missing you can go to the manage table layout to add it in like this here you can also group accounts together. So we might want to group our office costs or cost of goods into one group. I ll create an office cost group and add a few lines in and when we get back to the table.
We can now see that the group appears here you can go back into past months. Here and click on them to see what has been spent and received as well as how much of the cash budget was paid you can click into each invoice or bill to see all of the detail. Which is one of the reasons. Why float is much more reliable and insightful than a spreadsheet based forecast.
What you need to do is create forecast for each of these accounts in each month. You expect cash to me once it s all set up we. Then automatically update your forecast with invoices and bills from your accounting software. So you can track progress towards or beyond your forecasts really easily and efficiently.
It s important to note that forecasts and float act like empty placeholders that fill up with invoices bills and transactions from your accounting software as the month goes on so nothing gets double counted there are two ways to forecast inflate firstly. If you have several individual cash budgets to enter into one month. You can do that by clicking into the cell. I ll show you our sales this month.
You can see i have several cash budgets entered in these are all for the dates that i expect this cash to be received so let s add another one to show you how it works we want to put the total figure of cash that we expect to receive including tax and we ll put the date when we actually expect to be paid..
So this is different to a cruise budgeting a cash flow forecast shows your cash movement for when you will actually spend receive money. Which makes it a lot more realistic. So i ll set this to be all future months you can also set this to be weekly bi weekly monthly quarterly or annual and you can choose which date the budget starts and ends here a little known feature that we also have is the ability to forecast an average using this little calculator icon. It will look at the last three months and give you a historic average of the past actual.
If things change and you d like to ignore or change. One of your budgets. Perhaps the client paid early or for our different amounts or they re paying later than you thought you can just click in and you ll see this view for each budget. This lets you view that budget each month and will allow you to make changes all in one place here you can change the value and the date and if you want to lead to ignore a budget for some months or weeks.
But not others you can do that here individually or you can do it in bulk up here at the end of the month. Though we ll always take the actual as what really happened but you can refer back to see. What your budgets were in the past remember that float doesn t automatically calculate your tax for you due to the large variety of different tax rules and regulations around the world all cash comes in two float inclusive of tax. So if you pay v8e.
Gst. Hst sales tax or corporation. Tax. You ll need to enter those as forecasts as well so you can see in my v80 line.
I ve already got a quarterly budget worked out to do that i clicked into the cell click create budget and choose the quarterly option and put in the figure. This is a placeholder but we can always update it if it changes near at the time a second way to enter cash budgets is to use this button. Called spreadsheet input. This is really useful of human forecasts worked out in a spreadsheet and you want to copy and paste.
It into float. For instance. You might have a p l. Budget already in xero or quick.
Brix. You can t have that sync directly to float because it s unknown accruals basis and float is cash based. However you can export that to a spreadsheet from your accounting software update. It to make it cash based and then copy it into it.
So i ll go to this spreadsheet that i ve been working on and just copy each line into float. So i ll copy my expected sales and here is an example to do that just use your keyboard shortcuts ctrl c and ctrl v to paste it straight in you can also type in different amounts into each cell and move around easily with your arrows or tap key and you can copy your forecasts forwards to the right like a spreadsheet. The one thing is that with this method. You don t get as much granularity on date setting or individual budgets.
Within the month. As you do by clicking into each cell and entering the budgets. One by one. But it definitely can be a good place to get started once you spend some time setting your cash budgets.
You ll be able to get an accurate view of your cash flow over the coming months. Which will help you make those key business decisions. Sometimes you ll want to model different hypothetical situations to help you make better decisions for your business. Our scenarios.
Feature helps you to really easily and visually. Understand the cash impact of different potential futures for example. I have a couple of scenarios. Here that i made already one for losing a big client and one for hiring new staff.
You can see that losing the four seasons would have quite an impact on our cash flow..
And that hiring new staff member would initially lead to a dip in cash. But sales that i hope you bring in will make the investment pay off a few months down the line. So initially you ll be looking at your base or your official forecast. But we can add a scenario later to see what might happen if we wanted to say expand to a new location.
You might also do a scenario for increased or decreased sales or if a project falls through or if you get paid late or any number of scenarios. So you would just click add a new scenario layer enter the name and choose the color to reflect expanding to a new location. I ll just add a new cash budget on top of the existing one for. Rent so i ll add 3000.
More here each month. Now you can see that the rent roe has turned the same color as a scenario and my cash budgets were updated in all future months. I d also expect our sales to increase as a result so. I ll update that too you scrolling back up we can now see the impact if we expanded here working with scenarios will help you to understand how different situations will affect your cash.
Which is a crucial part of business planning. If you re looking to keep a close eye on the cash you can go to a daily breakdown tab to see a short term graph. Where you can set the date range. This can be anything from the next day up to the next three years.
But i find that looking at the next couple of weeks is the most useful below the graph you can see a list of the upcoming in comings outgoings and budgets ordered my date as well as how the effect bank balance. Almost like a bank statement of the future. However you can also go back into the past to see what has been spent and received as well you may be wondering what the budget remaining bets mean. This is because the way the budgeting works in cloaked budgets act.
Like empty placeholders that then fill up with invoices bills transactions as the month goes on so nothing ever double counts. That s why you see budget. Remaining amounts rather than total budgets as a portion of that budget has already been taken up with an invoice bill or actual transaction for instance. If we had a ten thousand dollar sales budget and four thousand came in toward sales.
Then we d have six thousand remaining until that month ends flutes. Main report lives in the cash flow tab if you click this downward arrow button. You can export your forecast to a csv or a pdf let s choose pdf because it s a bit more visual and give it a second to download so you can see you ve got the craft with the scenario that you re looking at at the time and then on the next page you have the summary of cash in and cash out. And then you have the full breakdown of what has happened in the past three months.
And what s going to happen in the future. But for some. More detailed reports just head over to our insights tab. The budget variance report will tell you how accurate your budgeting has been in the past month.
We ll pass three months. We also have a few more reports here that should give you greater insight into your budgeting. These. Two at the top will alert.
You to the top four categories or accounts. That were most over or under budget and you can then click into each one to revise those budgets. And this report will let you layer and this report will let you layer multiple scenarios on top of one another and set your date range to be anything from one day up to three years and this report will show you your budgets actual xand invoices and bills at a really high level green for cash in and read for cash out. If you have any questions at all just send us a message via the in app.
Support chat icon here or to support at flow tap comm will aim to get back to you as soon as we can but our response isn t always immediate so you can leave your question and close a tab and we will get back to you by email. That s it if you have any questions you can always get in touch with us. We ll be happy to help in any way we can happy. ” .
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