Use Average Pay Days When Forecasting Company Cash Flow

AccountsTowards the end of 2015, one of the biggest additions so far to the ICAEW accredited OrderWise Accounts Module arrived and that was a feature that provides OrderWise users with the ability to easily calculate their company cash flow. Offering businesses a clear insight into what their cash flow position will be at any one time through a one-view grid and accompanying dashboard, this great functionality looks at all anticipated and scheduled transactions in order to deliver a detailed cash flow forecast that is both accurate and simple to understand.

Upon release we stated that the OrderWise Development team would continue to enhance this cash flow functionality moving forward, which started last month with the ability to analyse all actual and anticipated transactions when calculating cash flow being added. You can read more about that enhancement HERE. Now in version 11.2 of OrderWise, further development has been added to enable businesses to use average pay days when forecasting company cash flow.

Pay DayAnticipate Dates Based On Average Pay Days

When it comes to calculating how anticipated payments and receipts will impact on company cash flow during a set period of time, it is vital that companies know the expected day that these transactions are due to take place. By having this information included in their calculations, businesses are able to gain a clearer indication into their cash flow at any time.

With this in mind, the first new enhancement to the OrderWise Cash Flow Forecast is the ability to calculate anticipated dates using average days to pay. With this setting activated, the dates of anticipated payments and receipts will be calculated by the relevant record’s date and time, as well as the average days to pay for that particular customer or supplier.

With this simple new addition, businesses using OrderWise Accounts to accurately forecast their cash flow can now benefit from knowing what transactions will take place, when and what effect these will have on the company’s financial stability.

account managers3New Dashboard Grid

The final new enhancement is the addition of a new grid on to the cash flow dashboard. This new grid enables businesses using OrderWise Accounts to see the same key information displayed in the line chart of the dashboard in another format, offering the flexibility for users to digest the data in their preferred manner. In the grid the company’s cash position, along with receipts, payments and the corresponding date will be shown. There is also a frequency dropdown to allow users to view how these statistics change over daily, weekly and monthly periods.

In addition to average pay days being included in the anticipated date calculations and the new dashboard grid, debtor and creditor average pay day figures have now also been added to the cash flow forecast dashboard. These two separate figures are displayed on both of the cash position tabs, giving users instant insight into the impact of these key numbers on the company’s cash position.

Thanks to these three highly useful new features, the accuracy and flexibility offered by the OrderWise Cash Flow Forecast facility has been further enhanced to offer even greater benefits to users. By using this tool as part of OrderWise Accounts, businesses can always access detailed information regarding the company’s cash position ready for easy-to-understand analysis.

For more information on OrderWise including Accounts, you can download our brochure.

Existing Customers can visit the OrderWise Online Shop.

To discuss your requirements in more details contact us today on 01522 704083.

Submit a Comment

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>