Uniquely, forecast/budget predictions for cash flow include due and overdue invoices and bills. Futrli is the only software that does this, in order to ensure short term cash flow is as accurate as possible.
Due dates can be overridden. Invoices and bills can also be completely excluded (and included again) if there is bad debt in the business. The invoice and bills reports from the cash flow performance page are also available here. Flick through them to get the graphical representation of the KPIs breakdown.
Report 1: Daily cash flow chart
Futrli calculates your cash flow daily, both historically and for the next three years. Hover over the chart for the daily predicted balance. This is the final output of every predicted transaction and journal that has fed through our accounting engine.
It will update as you turn on/off automated predictions, refine your budget and forecast with your own predictions and exclude invoices and bills or change their payment date.
You can scroll back 12 months for historical information and forward 3 years of future forecast/budget cash flow.
Reports 2 & 3: Invoice and Bill reports
Presented here are unpaid invoices and bills and how much is late, as per the invoice or bill terms within your accountancy software.
Behind the scenes, Futrli aggregates the average payment days for every contact, what the average payment days are per customer paying you and you paying suppliers. Because of this, you can see the proportion of due invoices or bills that are predicted to be paid within the next 7 days.
You also have the average age of all due invoices and bills calculated. As with many of the reports you can hit each amount and will see the graphical representation of the breakdown of the amount.
Invoice and bill table
Every unpaid invoice and bill is held within this table. Each column has sort and filter functionality for you to drill into the details that you need: zooming into one contact, sorted by the amount or the day it’s expected to hit your cash flow.
The first column denotes whether it is an invoice or bill. The second is the contact name as pulled from your accounting software, and this is followed by the invoice amount.
The primary column is the most important when considering your cash flow. Any overdue invoice will be counted in today’s cash flow until you change the planned payment date by hitting the calendar icon. You can also completely remove bad debt or bills that you won’t pay by hitting the exclude button (you can include them at any point in the future).
As you change planned payment dates or include/exclude, you’ll see the daily cash flow chart at the top of the page update.
View unpaid invoices and bills in the Prediction pages
When in the Prediction area, you can change the data view from Accruals to Cash Flow. In the Cash Flow view, an additional row will appear charting the total amounts of due invoices and bills that will be paid within the period. This is really helpful for managing your short term cash flow needs. The amounts will change if you move the planned payment dates on the invoices and bills page.