How Receipt Bank Will Make Your Business More Productive

Hands up if you recognise the process of; receiving an invoice, getting it to your bookkeeper, making sure it’s entered into your accounts, filing the invoice and then storing it for several years… And hands up if you think this is a bit tedious… Well good news! It doesn’t have to be that way! Because […]

Get Started with Float in 9 Easy Steps

The 9 simple tasks below are designed to help you understand how Float works and how to get the most out of the software. Each task only takes a few minutes to complete and includes easy-to-follow instructions. If you get stuck at any point, please just drop a question into the chat box at the bottom right […]

Step 1: Include the Accounts You Want to See

Float pulls in all the bank feeds you have connected in your accounting platform. You have total control over which accounts you want to include within your cash flow forecast. This Task Should Take Less Than 2 Minutes Log-in to your account To the right of your screen, just under the main tabs, you will […]

Step 2: Check Your Balance is Correct

It’s important that Float has the right information in order to accurately predict what your future bank balance will be. This task should only take a few minutes Have a look at your Float balance for today in the top left-hand corner. Is this the number you expect to see? If the number is what […]

Step 3: Group Your Office Costs Into a Single Row

When Float imported your data we pulled across your full chart of accounts, line by line and row by row. Let’s simplify your view. If, like many businesses, you’ve got fairly predictable outgoings for “Office Costs” then you can group multiple accounting categories within this group. A group is defined in Float as a single […]

Step 4: Set Your Payroll Date

Making payroll is can sometimes be a huge issue for business owners. It might even be one of the reasons you are investigating a cash flow forecasting solution. With Float, you can get a daily view of cash flowing into, and out of, your business. And because payroll is a very predictable outgoing, you can easily […]

Step 5: Plan Your Next Payment Run

Bills arrive into your business every day. But most businesses don’t settle their debts on a daily basis.  Chances are, you have a designated day for when you deal with bills. When Float pulls in a bill from your accounting platform, it looks at the due date and predicts that you will pay that bill […]

Step 6: Input Your Sales Forecast

When Float imported your chart of accounts you may have chosen the option to build a forecast taken from average historical data. So for your sales, we would have looked at your previous 3 months’ revenue (in cash), averaged it out, and projected it forward. However, nobody knows your sales forecast better than you, so […]

Step 7: Forecast a Different Sales Scenario

Unless your business operates on a subscription-based model or you have a high proportion of retained revenue, chances are your sales forecast will be fairly unpredictable. To help you plan, we recommend you create a separate, pessimistic forecast so that you can prepare for a worst-case scenario. This Task Should Take No Longer Than 6 […]

Step 8: Project a Late Payment

Late payment can have a devastating impact on businesses. Sometimes the problem is less about a payment being late and more about the expectation of a business (for example if a business needs an invoice to be paid in order to meet their obligations). Imagine a perfect storm of outgoings looming; a tax bill is […]

Step 9: Download a Report

Cash flow forecasting isn’t really about number crunching. The real value of forecasting comes from discussing the assumptions and plans behind the numbers. While cash flow forecasting is incredibly useful as a solo activity, its power is increased exponentially when you bring in business advisors like your accountant, or an investor. These people can ensure […]