During the course of this month, many businesses across the UK & Ireland will be beginning to look at forecasting their cash flow position for either the first or final quarter of their financial year. With this information presenting an indication of the solvency of a business, it is important that cash flow is calculated as accurately as possible. However with many companies failing to take into account transactions that are due to completed as well as those that have already been processed, it means that a lot of the time a company’s true cash flow position is actually more or less than projected. With this essential financial information having such a big impact on many key business decisions, it is vital that companies take into account all held transactional data when forecasting their cash flow.
One of the biggest additions to the ICAEW accredited OrderWise Accounts module in 2015 came right at the end of last year and that was a feature that provides OrderWise users with the ability to easily calculate 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. You can read more about this great feature HERE.
Analyse All Transactions With OrderWise Accounts For A True Projected Cash Position
Now extending this functionality to kick off 2016, an update has been made available in version 11.1 that allows OrderWise Accounts users to include any transactions in the cash flow forecast between their chosen start and end dates. This has been facilitated by two new grids added to the cash flow forecast form – actual receipts and actual payments. These grids will show users all transactions which hit the chosen bank account within the specified cash flow forecast dates. In-conjunction with these new grids, amendments have also been made to the cash flow forecast dashboard to include actual receipts and actual payments.
Thanks to this highly useful new enhancement, the totals offered by the OrderWise Cash Flow facility now provides businesses with an even more accurate and precise calculation of their projected cash position. With the flexibility to look at company cash flow over a specified time period and this information then able to be easily analysed through a dynamic dashboard, businesses using OrderWise can ensure that they always possess a true understanding of their financial stability.
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.