One of the major discussion points since Coronavirus hit has been the importance of Cashflow monitoring and forecasting. As a result, Quickbooks have brought forward the launch of its new Cash Flow Planner. What is it, and would we recommend it?

The Cash Flow Planner generates a three month view of your cash flow position, and can be linked to your bank account. It also takes account of any forthcoming transactions.

Would we recommend it to clients?

Any tool that helps a business monitor its cash position has to be better than it not monitoring it at all. However, there are better tools on the market, that can do as much if not more!

We recommend Xero Analytics Plus to our Xero user clients, as it’s affordable and offers far more than the Quickbooks tool.

However, our preferred option fro both Quickbooks and Xero users is Float, which offers far more functionality, including Scenario planning, the ability to report budgets against actuals, and to adjust the forecast to predict what would happen if invoices or bills weren’t paid. there is monthly subscription. but it removes the guesswork from cashflow forecasting and offers a host of benefits that could be transformative.

For Xero users, there is a similar option within the standard software, but again, we’d recommend Float as the more advanced option at this stage.

If you’re a Xero or Quickbooks user , why not take a look at Float? It’s quick and easy to set up; you won’t look back!