Cashflow software?

[movietub]

Business partner just gone away for 2 weeks and I've inherited the cashflow spreadsheet she uses, which is mangled to say the least.

Probably been asked a million times before, but is there any non bells and whistles basic cash flow software out there? We just need the ability to put regular and one off/occasional income/out goings in. We only run it a few weeks in advance anyway so we don't need 3 year predictions.trends etc.

Just a neat package designed to give running balance!

[MyAccountantOnline]

If you want something really simple why not use an Excel spreadsheet?

[movietub]

If you want something really simple why not use an Excel spreadsheet?

This is what we're using! The problem is we add so many lines each day that occasionally formulas get lost, the sheet for just one month is miles long and there is no sort of recurrence feature for bills that only get paid 10 months in the year etc.

I was imagining basic software might be available where you click 'add income', type a source, the amount, any comments, job done. And the same for 'add out-going'.

We have approx 30 transactions a day that go into cashflow.

[MyAccountantOnline]

I understand:) Hopefully someone will be along with a better suggestion.

[Blackberry]

Do you use accounting software for your bookkeeping, if so many such as sage and quickbooks have a built in cashflow forecaster

[David Griffiths]

Do you use accounting software for your bookkeeping, if so many such as sage and quickbooks have a built in cashflow forecaster

Yes, but don't those just forecast what is due in if the customer pays the invoices on time? There's a facility for recording flying pigs as well!

[movietub]

Do you use accounting software for your bookkeeping, if so many such as sage and quickbooks have a built in cashflow forecaster

Yes we use Sage, but only input monthly totals for income from each division. The day to day stuff is managed through a different system (good reasons for this, would take a very long time to explain though!).

[movietub]

Yes, but don't those just forecast what is due in if the customer pays the invoices on time? There's a facility for recording flying pigs as well!

:D

Quite, we don't want the cashflow influenced by what if's and maybe's. By wrapping it all into a single package Sage does just that. We always have about 100k invoices open on sage, none of which ever get paid at remotely the forecast time for a variety of reasons.

Our day to day cashflow just needs to answer questions such as "can we afford to place a bulk order of £12k next Tuesday to take advantage of discounted stock?".

[Blackberry]

I think you'll find that sage and quickbooks will do what you need if used correctly....no flying pigs required!:D

[jbell2210]

Google VT cashbook this is a free piece of software that's really simple.

[David Griffiths]

Google VT cashbook this is a free piece of software that's really simple.

It might well be really simple, but how does it do cash flow forecasts?

[movietub]

It might well be really simple, but how does it do cash flow forecasts?

I just had a quick play, it doesn't appear to be cash flow focussed at all. More like a basic tool for cash accounting, probably useful for a window cleaner etc.

[MyAccountantOnline]

Google VT cashbook this is a free piece of software that's really simple.

The OP asked for cashflow software:|

[Carsie]

Morning Movietub,

The only way that you're going to get a meaningful forecast is if you link your actual debtor/creditor payments against forecast.

I've sorted out several companies before who normally have to report to the bank, use a factoring facility and so on- it's a massive drain on management time if you can't crack it.

At circa £100k o/s p.c.m I would recommend Winforecast from Sage. It is hassle to set up initially and yes it does help if you understand accounts but the mere fact that you spend all weekend tearing your hair out actually takes you down to a micro level of costings within your business that you actually gain a huge appreciation of your cost drivers! :rolleyes:

Once it is running it takes a few weeks to settle down (in reporting terms) and then its very good.

I haven't come across a comparable product yet so always glad to hear of another. I wouldn't look at the purchase cost as prohibitive - the true cost to your business is in lost management time and the dreaded Excel Spreadsheet errors.

If you need a hand or a chat through- just drop me a line :)

[jbell2210]

Re VT: It is mainly a basic tool for cash accounting but you can use it to get a running balance by entering expected income/outgoings etc.

Of course a meatier package such as Sage or Quickbooks as previously suggested would provide much more detailed and accurate output but if they have been using excel up to now I think that suggests that a) they dont want to spend much/any money on a piece of software or/and b) they do not have a lot of experience using accountancy software and therefore its not always a good idea to take on a package such as this without some training or prior knowledge.

Just my opinion.

[MattPermax]

Hello

We have just such a product which is in the process of being launched properly onto the market. It was initially written for Barclays who used it to produce sensitivity reports for new business accounts. It's been adapted for use by any business (or even domestic user) and is incredibly simple to use and powerful.

Feel free to PM me if you'd like further info.