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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 use this to lay the foundation for a highly detailed forecast.

This Task Should Take Less Than 3 Minutes

  • Log-in to Float
  • Scroll down to your payroll category
  • Click into this month’s cell in that row
  • Click “Create Budget” in the top right corner of the pop-up
  • After naming your budget and including the amount, check the box that says “All future months”
  • If you pay staff every month select “Every Month”, or else, “Every Week”, “Every 2 Weeks”, “Every Quarter”, or “Every Year”
  • Select the date (or day) when the cash for payroll leaves your bank account
  • Click “Create Budget” in the bottom right-hand corner

When you have done this you will have set a repeating budget. You will see the total monthly outgoings displayed in all future cells.

For more information on how to set budgets, check out our help article here!

 

Up Next –¬†Step 5: Plan Your Next Payment Run >>

Float Team

Float is an award-winning cash flow forecasting and management software for Xero, QuickBooks Online, and FreeAgent.