Get a real-time view of your cash flow with Float
Here at Northern Accountants, we use Float to help clients enjoy unique cash flow insights, plan for the what-ifs and take firmer control of their finances. As part of our App Stack, the Northern Accountants team helps clients with the implementation and training of Float to ensure cash flow knowledge is not based on guesswork, but facts.
Why use Float?
Without a sound grasp of your business numbers, it can be difficult to make plans or understand how well your company is performing. Staying on top of cash flow issues is incredibly important, particularly for SMEs who often don’t have an abundance of spare funds to develop products and services. And that’s where Float can help.
Designed for cash flow forecasting and scenario planning, Float builds a clear and easy-to-understand picture of your current and future cash flow, allowing you to drill down into what’s going to happen next week, next month or even next year. Essentially, Float makes ‘guesstimates’ and poor planning a thing of the past by making it easier to calculate your cash flow, taking into consideration actuals such as bills and invoices.
How is Float used?
Float provides accurate, real-time forecasts and information that makes the cash flow position of businesses straightforward – after all, money matters should not be approximated or roughly judged as the slightest error could have a devastating impact on business. With realistic numbers to hand, you can make more confident business decisions.
Float integrates seamlessly with accounting platforms such as Xero and gives clear information about your cash position. Simply enter your cash forecasts for what you expect to happen each month and Float will keep these updated, importing bills and invoices to create clear cashflow projections. Having a visual image of your cashflow makes it easier to spot cash shortages and fluctuations in good time, allowing you to secure extra funding in advance or reinvest surpluses to grow your business.
Essentially, Float allows you to keep track of your projections to ensure they’re as accurate as possible. If you’ve not used software before, Float makes it possible to compare your actuals to your forecasts simply and efficiently. And you don’t need to be a maths whiz kid.
What Float does – additional benefits
The benefits of Float are plentiful, which is why it’s part of our App Stack here at Northern Accountants. As well as being able to understand your cash position right now, you can also scenario plan for the what-ifs. This means you can model hypothetical business situations to see how they shape up to your actual forecast. If you want to hire a new employee, for instance, checking your future cash predictions is a must to see if you can afford it.
What’s also great about the Float app is that you can share your forecasts with stakeholders via a CSV or PDF. By hitting the insights tab, you’ll have access to the accuracy of your budgeting and be able to layer multiple business scenarios according to the figures.
Visit our Float Training page to find out more about our Cloud Academy and Float as part of the NA AppStack training courses we deliver for clients.
To work smarter and keep your business in good working order from anywhere, anytime, get in touch to book a Discovery Call 0113 218 9552 today!