Cashflow Forecasting: Plan for your business's future
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Cashflow Forecasting: Plan for your business's future
Having enough in the bank to keep your business running is one of the biggest concerns for small business owners. With good reason: lack of funds is the number one reason businesses fail. Check out...
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Very helpful, although I'd love to see a budget area in the business part of Wave, similar to Xero and Quickbooks. So that we can see actuals and budget figures in P&L and Balance Sheet.
Hey @SoulBe thanks for sharing that! It's an interesting idea, I'd love to know more about how this would help you in your business. It sounds like you're looking for a comparison of budget against actual spending, is that right? Thanks again for sharing your thoughts!
Hello Siobhan,
Yes, that is correct. I believe it very useful to have a report, or a link on the dashboard, to show budget against actual spending, rather than using a spreadsheet. I like things to be in the one location/app for ease of flow. ;-)
Currently, I can see the cashflow in/out on the dashboard. If that had a 'budget' column for the selected period, we can see how we are tracking in one view. Or, have a P&L report, with actual and budget columns, for the selected period.
Happy to chat about this, and show you some examples perhaps?
Cheers
Bianca
@SoulBe Hey Bianca, Thanks for your ideas! Ya, we'd love to hear more about your examples
The more that I use Wave, the more convinced I become that this is the perfect accounting programme for the businesses that I work for as their accountant.
Looking back at past emails I can see that Bianca asked about preparing a budget and cash forecast and be able to compare both these programmes with actual profit and loss and cashflow.
Is there a programme available yet to be able to make comparisons?
Hey @RayQ42_, thanks for that feedback! At present, there is still no way to make those comparisons, without pulling those reports up in their own windows and comparing side-by-side.
What you need to do is have cash flow projections built in, not needing to manually create spreadsheets. it would be very simple. Have an estimate, do progressive billing towards estimate, allow to set and create "billing schedule" for each item/phase of the stimate, create a monthly report showing what would be billed each month.
agree an integrated budget tool within Wave would be much easier.
I'm considering moving from Quickbooks Online to WaveApp. A great cashflow integration tool would be with CashFlowFrog.com. Maybe you all can work on getting this integration setup with them. I'm sure that you're current customers would be extremely grateful.
Hey @cozaks, and @EDNEWTOWAVE!
I hate to be the bearer of not-great news, but in the spirit of full transparency, I do want to be completely frank with you both. There are currently no plans to implement such a feature or function into Wave. That doesn't mean that it's something that will never happen, only that it's not something that we can reasonably expect to happen anytime in the near future.
Currently, the best option would be to use the Help Center article in conjunction with the reports in Wave to conduct a forecast manually. Alternatively, you can also reach out to an accountant to help with something like this.
There may also be a helpful/useful integration that you could use with Wave here. Perhaps the tool @TieDavis has posted could be helpful to you as well.
I realize that this isn't an ideal answer or the one that you were likely hoping for, and for that I do want to apologize. I hope that the resources that are currently available to you both will suffice for now. Thanks for adding to the discussion and for your input. Please don't hesitate to continue doing so!