Cash Flow Forecast

Overview

WorkBook’s Cash flow forecast submodule in the Finance & Administration module is a powerful tool for accurate, short-term forecasts, typically one to four months. It automates the time-consuming elements of a cash flow forecast, and then supplements it by manual inputs.

NOTE: The Cash Flow Forecast submodule is not designed for long-term forecasts based on the balance sheet budget.

The Cash Flow Forecast grid consists of three sections.

Green Section

These rows display the system-calculated cash income. You cannot change the values in these rows.

  • Incoming payment, not due:  Refers to non-overdue account receivables.
  • Overdue incoming payments: Refers to overdue account receivables.
  • Subscription: If you use the Subscriptions module, WorkBook calculates expected cash from future billings. For more information about subscriptions, see Subscription Management.
  • Price Quotes approved internal (40): Refers to the price quotes on all the planned jobs in Workbook with a status of 40 (approved internally).
  • Price Quotes approved internal (50): Refers to the price quotes on all the planned jobs in Workbook with a status of 50 (approved externally).
  • Price quotes for approval: Refers to the price quotes on all the planned jobs in Workbook with a status of 20 (for approval).

NOTE: WorkBook derives the values in the price quotes fields above from the billing plan on the individual price quotes. Depending on the price quote settings in the Resources module or Jobs module, the VAT and sales tax amounts are included in the forecast numbers.

For more information about price quote statuses, see Price Quotes.

Red Section

These rows display the system-calculated cash expenses. You cannot change the values in these rows.

  • Outgoing payments: Refers to account payables.
  • Non-posted vouchers: Refers to creditor vouchers (invoices) currently in the workflow and yet to be posted.
  • Open purchase orders: Refers to purchase orders that await invoices from creditors.

NOTE: Depending on the supplier settings in the Resources module, the VAT and sales tax amounts are included in the forecast numbers for non-posted vouchers and open purchase orders.

Yellow Section

These rows display the income or expenses that you enter manually. In the screenshot above, there are four cost types set up for each month, beginning in July 2018:

  • Marketing Costs: The marketing costs incurred for the month.
  • Building Rental: The cost of rent for the month.
  • Salaries: The total employee salary for the month.
  • Adjust Overdue Debtors: Use this row to account for incoming overdue payments that you expect to remain unpaid for the selected month.

NOTE: If you want to exclude specific cash income or expense types from a cash flow forecast, clear the check boxes for those income or expense types. WorkBook automatically updates the forecast. For example, you may want to exclude price quotes wit statuses of 20 and 40 because they are yet to be approved by clients.

Set Up Cost Types

Depending on your role in WorkBook, you can create the cost types for income or expenses that you have to manually account for in cash flow forecasts using the Cost types setup tab in the Cash flow forecast submodule of the Finance & Administration module.

1.  On the main module toolbar, click Finance & Administration .
2.  Use the drop-down list above the left pane of the Finance & Administration module to select the company that will use the cash flow forecast for which you want to set up cost types.

3.  In the left pane of the Finance module, click General ledger » Cash flow forecast.
4.  In the Cash flow forecast grid, click the Cost types setup tab.
5.  In the grid, double-click a row to add a cost type. Enter the following information:

  • Post: The post number must be between 300 and 399.
  • Income / cost description: A description of the income/cost type.

To delete a cost type, right-click the cost type row and click Delete selected rows on the context menu. To select multiple rows at once for deletion, use Ctrl+Shift+Click. To select all rows for deletion, use Ctrl+A.

Create Cash Flow Forecasts

Depending on your role in WorkBook, you can create a cash flow forecast from any of the tabs in the Cash flow forecast submodule of the Finance & Administration module.

1.  On the main module toolbar, click Finance & Administration .
2.  In the left pane of the Finance & Administration module, click General ledger » Cash flow forecast.
3.  Use the drop-down list above the left pane of the Finance & Administration module to select the company that will use the cash flow forecast for which you want to create a cash flow forecast.

4.  At the top of the Cash flow forecast grid, click , and click New cash flow on the drop-down menu.

5.  In the New cash flow dialog box, enter the following information:

  • Description: The cash flow description. For example: Cash Flow – July 31, 2018.
  • Opening balance: The opening balance, including cash and accumulated bank balances.
  • Date type: Select if you want a weekly or monthly forecast.
  • Report date: Select the date when you want WorkBook to generate the cash flow forecast report.
  • Start date: Select the start date for the cash flow forecast.
  • Include old not invoiced billing plans: Select this option if you want to include billing plans that are past their due dates but are yet to be invoiced. By default, WorkBook excludes such billing plans in cash flow forecasts.

6.  Click OK. WorkBook displays the new cash flow forecast in the grid.

Delete Cash Flow Forecasts

Depending on your role in WorkBook, you can delete unapproved cash flow forecasts in the Cash flow forecast submodule of the Finance & Administration module. You cannot delete approved cash flow forecasts.

1.  On the main module toolbar, click Finance & Administration .
2.  In the left pane of the Finance module, click General ledger » Cash flow forecast.
3.  Use the drop-down list above the left pane of the Finance & Administration module to select the company that uses the cash flow forecast that you want to delete.

4.  From the drop-down list next to the grid tabs, select the cash flow forecast that you want to delete.

5.  At the top of the Cash flow forecast grid, click , and click Delete cash flow on the drop-down menu.

6.  When WorkBook asks you if you want to delete the selected cash flow forecast, click Yes.

Approve Cash Flow Forecasts

If you are the designated approver for a cash flow forecast, you must approve the forecast in the Cash flow forecast submodule of the Finance & Administration module to lock it. You cannot change the values in a locked cash flow forecast.

1.  On the module toolbar, click Finance & Administration .
2.  In the left pane of the Finance module, click General ledger » Cash flow forecast.
3.  Use the drop-down list above the left pane of the Finance & Administration module to select the company that uses the cash flow forecast that you want to approve.

4.  From the drop-down list next to the grid tabs, select the cash flow forecast that you want to approve.

5.  At the top of the Cash flow forecast grid, click , and click Delete cash flow on the drop-down menu.

6.  When WorkBook asks you if you want to approve the selected cash flow forecast, click Yes.

View Cash Flow Information

Use the Cash flow information tab in the Cash flow forecast submodule of the Finance & Administration module to display information for a cash flow forecast.

1.  On the module toolbar, click Finance & Administration .
2.  In the left pane of the Finance module, click General ledger » Cash flow forecast.
3.  Use the drop-down list above the left pane of the Finance & Administration module to select the company that uses the cash flow forecast for which you want to view information.

4.  In the Cash flow forecast grid, click the Cash flow information tab.
5.  From the drop-down list next to the grid tabs, select the cast flow forecast that you want to view information for.

The tab displays the cash flow information for the cash flow forecast, including the report date, the start date, and the date when the selected cash flow forecast was last recalculated.

View Cash Income/Expense Details

Use the Details tab in the Cash flow forecast submodule of the Finance & Administration module to view system-calculated, cash income/expense details for a cash flow forecast.

1.  On the module toolbar, click Finance & Administration .
2.  In the left pane of the Finance module, click General ledger » Cash flow forecast.
3.  Use the drop-down list above the left pane of the Finance & Administration module to select the company that uses the cash flow forecast for which you want to view income/expense details.

4.  From the drop-down list next to the grid tabs, select the cast flow forecast that you want to view income/expense details for.

5.  In the Cash flow forecast grid, click the Details tab. The Cash flow forecast grid displays detailed information about each system-calculated expense/income type, including the following:

  • Invoice number (for incoming payments)
  • Voucher number (for outgoing payments)
  • Due date
  • Amount
  • Client name (for incoming payments and subscriptions)
  • Vendor name (for outgoing payments)
  • Job number (for incoming payments)

Update Opening Balance

You can change the opening balance for a cash flow forecast. This is useful in case you entered an incorrect opening balance or if the available balance changed shortly after you created the cash flow forecast.

1.  On the module toolbar, click Finance & Administration .
2.  In the left pane of the Finance module, click General ledger » Cash flow forecast.
3.  Use the drop-down list above the left pane of the Finance & Administration module to select the company that uses the cash flow forecast whose opening balance must be updated.

4.  From the drop-down list next to the Cash flow forecast grid tabs, select the cash flow forecast that you want to update the opening balance for.

5.  Click Update opening balance next to the cash flow forecast drop-down list.
6.  In the Refresh cash flow dialog box, enter the new opening balance and click OK.

Export Cash Flow Forecast Data to Excel or PDF

You can export data from the Cash flow forecast submodule in the Finance & Administration module to Excel or PDF.

1.  On the module toolbar, click Finance & Administration .
2.  Use the drop-down list above the left pane of the Finance & Administration module to select the company that uses the cash flow forecast whose data will be exported to Excel or PDF.

3.  From the drop-down list next to the Cash flow forecast grid tabs, select the cast flow forecast whose data you want to export.

4.  Click the header of the left-most column of the Cash flow forecast grid tabs, and click Export grid data on the context menu.

5.  In the Export data dialog box, select from the following options:

  • Microsoft Excel Open XML Format Spreadsheet (XLSX)
  • Text file (CSV or custom separator)
  • Portable Document Format (PDF)

By default, WorkBook includes the header row and group data in the export. You have the option to clear the check boxes for these options. The option to include group data is useful only if your system supports data grouping. Otherwise, selecting or deselecting this option does not have an impact on the exported file.

6.  Click OK. WorkBook generates the file and displays the file icon at the bottom of your browser.
7.  To open the file, click the file icon.

Was this article helpful? Useful Useless 0/0 found this article helpful.