When my mind is full of everyday tasks in the business it can be hard to zoom out and get a quick picture of projections if I tweak different things in the business. Float has been a very useful tool to manage cash flow and the integration with Xero makes it seamless. My brain works well with graphs and being able to see what’s ahead. I find budgeting in Xero just doesn’t help me manage my money. I love being able to look in Float and see what the next month looks like.
It’s not a production ready piece of software in my view nice though it is it certainly isn’t a piece of software I would pay £15.00 a month for – a lot more work to be done on it. I’d also like to publicly acknowledge the development team. Not only have they actively sought feedback and constructive criticism, they have actually listened and acted on it.
Profit Just Shows How Much The Business Earned But Doesnt Take Into Account Any Cash Outlays
I highly recommend giving Float a try, it is easy to use and integrates neatly with xero. Float has been very useful for our business and I’ve found it easy to use. It’s great for sharing with management as it’s easy to understand and the scenarios help us plan for different business cases and manage risk.
Float provides the essential view of the future cash flow in real time and has helped me greatly. Prior to Float I tried other products but none of them do the job as effectively and simply as Float. Our accountant recommended Float as a useful tool for cash flow forecasting. We find it very user friendly and the support team are always quick to respond with any queries that I have. It makes it easy for businesses to keep an eye on cashflow and plan ahead by building different scenarios.
You can then use these historic movements to forecast forward and build up a cashflow forecast. The ability to change expected dates of invoices – predicting supplier payment dates and debtor payment dates is also a great feature of Float. Float integrates seamlessly with Xero and we use it almost everyday as a great cash flow tool. Fantastic at forecasting different scenarios going forward. Clear simple and intuitive interface and a joy to use even if accounting has not been one of our strengths.
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With some other features like dumping the daily cash flow result on your google calendar if required. I would like to add my voice to the request for a forecasting/cash-flow feature in Xero. It seems to me that this should be a standard feature. This feature would then enable the cash forecast to be used to smooth projected workloads. This would be the most important tool possible for smaller businesses. Users can then manage cash flow daily by adjusting receivable and payment dates and see in advance when cash flow is going to be tight and who needs to be pushed out or collected sooner.
- Or maybe you can revisit some of your overheads to see if you still need everything you are paying for.
- You’ll bring them back together when you do your next budget.
- As a small business owner I’ve found Float to add a huge amount of value.
- Hi everyone, Come on over to the new discussions in Xero Central.
- Compared to the other packages we trialed we find it easy to use and saves a lot of time with the ability to rapidly model scenarios.
Leave a line for petty cash, to cover costs you didn’t think of. You can use one year’s experience to help predict the next.
Remember, our friendly support team is always on hand to help out too. Float automatically imports your Xero data every 24 hours, updating forecasts with payments that are due and ones you’ve paid. You can also trigger the import automatically if you know that Xero has just been updated, or if you just feel like it. You can update expected payment dates on bills and invoices; deciding which debtors to chase and which bills to postpone in order to stay in the black. As a Xero integrated app, Float is perfect for running a small business.
Hi everyone, we know there’s lots of activity going on as businesses do their best to get a clear picture of where the next few months are steering them. We’re doing what we can to back our small businesses and help stay one step ahead of the curve wherever possible. Hi everyone, Come on over to the new discussions in Xero Central. It’s a more intuitive way to connect and chat all things business with one another. Ask questions, dish out answers, and get involved.
This enhanced financial scrutiny is a new way of working for some and should remain in place as best practice for the long term. Cash forecasts from diverse teams, geographies and units are automatically consolidated at global level with customizable multi-user access. Go-live within weeks and with negligible IT involvement since it is built to seamlessly integrate with any ERP, TMS, accounting solution or other legacy systems via API or sFTP.
If I had one area I’d like them to work at it would be the same as I’d say of Xero – reporting. We’ve been using Float in anger for 6+ months now and its value just keeps on increasing – both with each incremental improvement, but also as you get the data more accurate to your business. The more you put into using Float the more you get out, though there are immediate benefits as well. As MD of a start-up experiencing significant growth already, having control of my cash flow is so important. Float has really helped me feel in control and I’ve already been using the scenarios to help make decisions on hiring etc. Be nice to bring through the ‘Negative – Positive info through to the actual cashflow as a reminder.
I have finally found a cashflow software which works for me and my clients. Float takes the pain away from continually manually updating spreadsheets or fighting with other overly complicated software packages. I love the support too, very efficient and extremely helpful.
Manage Your Cashflow Like A Professional
It has saved me so much time which is a valuable commodity for any business and has put a smile on the face of my MD. It really helped us get a level of granularity in our cashflow forecasting that is difficult to do in an excel sheet. Float has been an excellent addtional to the toolbox. It has made cashflow projecting much easier and enable us to have great visibility on how the business is operating, sharing info with the board and planning for investment. Easy to set up, seamless integration with Xero and takes minutes to update scenarios to provide forecasts based on differing business decisions.
The fact I can easily see the impact of late payments and how to adjust based on these, helps me effortlessly manage my business. Also, the people at Floatapp are truly interested in feedback and continuous improvement. If you are finding Xero’s Cash Flow reports inadequate, then Float is very handy, and good for forecasting.
Thoughts On how To Create A Cash Flow Forecast In Xero (and Excel)
A very useful tool that works marvellously well with Xero. It really opens up and visualises your financials. We’re a startup and Float has been a fundamental factor in us raising our next round of investment – i highly recommend it. We’re very pleased with it – and look forward to seeing the software develop and evolve further. Please keep the feedback coming – we take it all on board to help improve and define the product’s future. Intuitive, very easy to use and saves days of work compared to Excel. Fantastic experience working with Ben and Float!
These should also feature in a cashflow forecast, maybe as a user selectable option. A methodlical cashflow manager will be looking for the wealth of information that is often captured in a PO. Something simple just using the information that is already in Xero – for example the upcoming in and out invoices, plus, if you could, any regular direct payments. Then an extension of the Bank account graph which assumes transactions happen when they are meant to happen. Would help identify if I was about to run out of cash any time soon and just how critical it is that the next invoices get paid on time. oat helped us identify a future cash flow shortage, with this information we were able to make the necessary changes and plans to avoid a tricky situation with our creditors.
Float works well for forecasting cashflow and identifying when a business may run out of cash. Float has been a hugely helpful to forecast, budget and visualise our cashflow. The scenario tool is fantastic and gives us far greater insight to the financial health of the business. Float has pushed out my cash flow forecasting from a couple of months to 3 years. This is transforming how I run the business, and lets me know what we need to do day-to-day and achieve in the coming weeks. Float has become absolutely instrumental to my business, and is what I consult before making virtually any business decisions.
Float has saved me time and reduced the number of spread sheets and manual calculations I need to do. I feel a lot more in control and my management team can also see how we are doing. Float has been a great cash flow tool to use with Xero.
In our last blog we covered some of our favourite expense apps and why we like them. Cash Flow Frog automatically creates forecasts specifically designed for your business.
Works seemlessly with Xero and is really helping me keep track of our cashflow. The new insights feature is great, helping to further analyse your cash movements and improve budgeting. I come from a scientific background, not financial – so to have a tool like Float to create and monitor a budget is invaluable. But to perform fairly accurate forecasts, even with more than one scenario – again Boom, Bonus. Absolutely essential to the operations of our business.
With cloud accounting software you can work remotely from home or anywhere and have up-to-date information. cash flow is the best indicator of financial health. A cash flow report takes into account the money you have in the bank after you’ve paid all your suppliers, employees, made your loan repayments. Cash Flow Frog is a powerful tool that enables you to answer ‘what if’ questions and test different future scenarios. We’re passionate about getting business owners the right amount of cash, at the best rate, when you really need it.