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QuickBooks Cash Flow Projector - Constraints and a Solution

Helly jackson
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QuickBooks Cash Flow Projector - Constraints and a Solution
Wed, Jan 03, 2018, 4:15 am CST

Part 3 in this article series focuses on how an add-on product, CASH Cop ®, addresses the specific constraints of the QuickBooks® (QB) Cash Flow Projector tool identified in Part 2.


Is there one "be-all-end-all" financial reporting program on the market? After having spent much time reviewing the various financial reporting tools that are available, I can say I have not yet found the affordable "be-all-end-all" program that does every type of reporting with grace and ease, and integrates with QuickBooks. However for the purposes of this article series we are focused on cash flow projections, and not just the 12-month flavor, we want short-term as well as longer term. There is only one tool that I know of in the marketplace that is integrated with QuickBooks; can utilize invoices, estimates and purchase orders, as well as unpaid bills; produces short-term as well as long term projections; and has an easily edited budget forecast. That tool is CASH Cop Pro (the basic version, CASH Cop, does not import invoices, estimates, or purchase order information).


What follows is a summary of the QB Cash Flow Projector constraints as reviewed in Part 2 of this article series, and how CASH Cop Pro eliminates or addresses these issues.


QB issue: 6 screen process to create the projection. Designed for use with QuickBooks, CASH Cop Pro utilizes 1-click imports to bring in key financial data directly from QB without altering the QB data files. There is a 1-click import button for each data collection, e.g. Budget and/or Actuals, Invoices, Estimates, Purchase Orders, and Unpaid Bills. The imports take seconds, and the tool automatically puts the appropriate information into the correct location for quick user editing as necessary. All of this information is contained in one Excel workbook, so navigation is intuitive for any user with Excel experience.


QB constraint: Projection is limited to 6 weeks. Whereas QB would require multiple reports or internal tools (e.g. Cash Flow Projector, and Cash Flow Forecast report), CASH Cop Pro provides both short (6-weeks) and long term (1-year) projections that are easily editable to reflect your financial intentions.


QB constraint: Does not take Invoices (your invoices to clients) into consideration. For me, this issue is a show stopper. Many companies are dependent upon their Invoicing (vs. cash receipts) for their weekly income. The ideal of having to manually juggle all the open invoices in order to get QB's Cash Flow Projector to some semblance of reality is unappealing. CASH Cop Pro specifically takes open invoices into consideration. Invoices are automatically included in the 6-Week Cash Management/projection. The user has the option of whether or not to include invoices on the 12-Month Projection sheet, it all depends on whether users have accounted for their invoices in the budget forecast.


QB constraint: Inclusion of loans in the projection is not necessarily a clear and clean process. CASH Cop Pro has 5 built-in loan calculators. These calculators resemble typical loan calculators with a few exceptions. 1) Each calculator is designed to handle a variety of loan types and 2) each calculator can be individually controlled as to whether the payments will be utilized in the 6-Week Cash Management/projection or the 1-Year Projection, or both. These features mean that the user will have the greatest flexibility regarding how loan information is utilized for projections, and the user can quickly play "what-if" scenarios about future loans without having to re-key information. Additionally, on the 6-Week Cash Management/projection, the user can account for loans that have also been entered as a bill, thus eliminating the issue of duplicate expenses.


QB constraint: Does not allow for easy adjustments to Vendor payment timing. Most small and medium sized business do not have deep pockets. Since many companies process their Accounts Payable weekly, it is essential that they be able to quickly assess the impact of these bill payments on their cash flow, not just for today, but into the future. CASH Cop Pro's 6-week Cash Management worksheet not only shows the bills, their amounts and due dates broken out by week, but with the click of a button (the Delete key) a user can move a bill payment from one week to the next, or even plan for partial payments on a bill. Recalculations of the projection happen immediately, making it simple to play "what-if" scenarios when there is, or will be, a cash-crunch.


QB constraint: Does not allow for easy adjustments to Vendor payment amounts. As mentioned above, CASH Cop Pro allows the user to not only move the payment date, but also plan for a partial payment, in which case the balance due shows up in the next week, but that balance due can be moved to a later week by using the Delete key. The user can see their changes to vendor payment timings and amounts, and if necessary quickly restore the original timings and amounts.


Summary: CASH Cop Pro is only focused on cash flow projection related information; therefore it is not the "be-all-end-all" financial reporting tool that produces dozens of analytical and financial reports. That said, CASH Cop Pro is the best tool available for leveraging QuickBooks data to quickly generate and maintain cash flow projections. Although CASH Cop Pro is not fancy, it is fast, and it delivers on flexibility, so that a company can produce cash forecasts based on how they do business and how they keep their books.


For annotated screenshots and videos you may visit the company website.


Nancy Smyth is a Qualified QuickBooks ProAdvisor and Intuit Gold Designer specializing in providing QuickBooks clients an effective simple efficient way of complying with Federal and State Prevailing Wage Laws create certified pay-roll views from QuickBooks details. For more details regarding Qualified Pay-roll Solution-QuickBooks  Support Phone Number

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QuickBooks Cash Flow Projector - Constraints and a Solution