Editor’s Note: Float is all about Cash Flow. It is the first in our Analytics/Reporting App feature series for July 2022. Check out Murph’s introduction to this series HERE.

You should not need to be a financial whiz to get a handle on your cash flow. Float provides a quick and easy solution to cash flow forecasting.

Gone are the days of spending hours trying to export QuickBooks data into a spreadsheet and then manipulate it, only for it to go out of date the next time you process a QuickBooks transaction.

Float automatically pulls your QuickBooks information regarding your bank accounts, bills, invoices and actuals so you can easily see what cash is coming in and going out. It is always up to date, giving you an accurate cash flow forecast in a matter of minutes.

Because Float imports every bill and invoice from QuickBooks, you can set accurate expected payment dates, which can be different from official due dates, making your forecast a true reflection of your cash position.

Float lets you run scenarios based on your current and future cash position to see what could happen due to inflation, hiring freeze, loss of a major client, increased costs-of-goods or operating expenses, late payment(s) or decide to pay off a loan early.

As if these were not enough, there are a whole list of reasons why Float should be one of the cash flow projection applications you should definitely consider in lieu of my book. With Float, you can:

  • Update your expectations with actuals from QuickBooks every day
  • Provide an accurate, visual representation of your real cash (current) position and a reliable projection of your future cash status
  • Save a tremendous amount of time over manual cash flow forecasting while providing automatic 24-hour updates of what’s really happening in your business
  • Spot cash fluctuations, shortages and surpluses well before they happen, giving you plenty of time to secure funding or reinvest surplus cash
  • Manage cash flow across multiple projects—Float Projects is designed to streamline cash flow management for projects by giving you maximum visibility of the cash impact of each project

Simply put: Float does in seconds, when synchronized with QuickBooks (or Xero), what took 20-something pages to just describe (how to do) within Business Analysis with QuickBooks1.

You not only can get the information you need in the form of a cash flow projection, but also tweak that projection almost endlessly based on any number of factors. Better yet, your cash flow analysis via Float continually is being updated with new information from your accounting software.

Why would someone even think about doing things the “old fashioned way” when there are tools like Float at their disposal? 

Of course, this is just the first of the apps we will examine this month. If you already are thinking to yourself, I must learn more, head over the Float website to begin resolving your curiosity.

Footnotes and Disclosures:

Portions of this feature, including graphical artwork contained therein, have been adapted from content used from the Float website. Float is a registered trademark of The Float Yard Ltd, Registered in Scotland. All such source materials within this feature by Insightful Accountant were adapted and are furnished solely for educational purposes.

As used herein, QuickBooks and QuickBooks Online refer to one or more registered trademarks of Intuit Inc., a publicly traded corporation headquartered in Mountain View, California.

Any trade names used herein, including those of the sponsor (vendor) featured within this article, refer to products that may be registered, trademarked, or otherwise held by their respective owners; they are referenced for informational and educational purposes only.

This is an editorial feature, not sponsored content. None of the vendors within this article have paid Insightful Accountant or the author any form of remuneration to be included within this feature. The article is provided solely for informational and educational purposes.

The publication of this article, nor the inclusion of this product within the related series, does not represent any endorsement by either the author or Insightful Accountant.

1Business Analysis with QuickBooks was published in 2010 by Wiley Publishing Inc.. Authored by Conrad Carlberg, PhD; William “Bill” Murphy as Technical Editor.  

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