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Best Invoice Financing Providers for your Business
Following on from our guide we have listed the best invoice financing providers in the UK, USA and Australia that can help you get paid faster on your invoices. USA Fundbox Fundbox will advance you cash based on your unpaid invoices. You just hook up your accounting software and select an invoice you want to borrow against. […]
What is Invoice Discounting (Invoice Financing)?
Invoice discounting is a way of quickly raising cash by borrowing against unpaid invoices. Normally, you invoice a customer and give them a number of days’ credit. But with invoice discounting, instead of waiting for them to pay, you go to a lender and use the invoice as collateral to borrow cash. A lender will […]
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 […]
5 Things You Never Knew About Cash Flow
“Cash is king,” said the business guru sagely. The audience applauds rapturously. We’ve all heard the old cliche. But it’s strange how rarely anyone elaborates on this apparently universal truth. At Float, we believe in cutting through that veneer because cash is too important to be relegated to a book of trite sayings. We believe […]
Invoice Manager has become Cash Manager
You may have noticed we recently made a small change to the app, changing the name of “Invoice Manager” to “Cash Manager”. It may be just a small name change, but we feel it is a much better description of the task this feature performs. What is Cash Manager? Cash manager is a feature that […]
Cash Flow Isn’t About Numbers…
Cash flow forecasting is not about numbers. I mean, sure, you need numbers to make a cash flow forecast. But that is not what cash flow forecasting is about. Cash flow forecasting is actually about using numbers to make decisions that will help you achieve business success and avoid failure. Imagine You Couldn’t Pay Your […]
Slingshot Effect Have Ceased to Trade
The team at Float has it’s share of zombie fans and RPG aficionados. And so it was with sadness that one of us received an email over the weekend from Slingshot Effect (creator of the zombie RPG, 2.8 Hours later www.slingshoteffect.co.uk) explaining that they have put the company into liquidation. In a statement (which can be […]