To get started carry out the following:
1. When you first log in you’ll be asked for your latest bank/cash position. This is required to give the forecast a starting point of what your cash position is now. If you don’t have it close by you can close this pop up box, continue then add it in the next time you log in. Alternatively, you can go to the Analysis section and add it here (End of Period Actual Cash Position – yellow row).
2. Go to Set-up then Settings and select:
- The currency symbol you work in (only needed for reporting);
- Select negative numbers to be shown as a ‘–‘ or in brackets. (We’d recommend brackets as this’ll make it easier to read);
- Select the day your week ends, e.g. Sunday;
- Select to display decimals or to hide them. (If it’s not important for the cashflow to be accurate to the last penny/cent then we’d recommend hiding them as this’ll make the numbers easier to read – less cluttered);
- Select to display commas in your values, e.g. 2,250 or 2250. (We’d recommend using them as it will be easier to read);
- Select number of columns to display. (If planning to use the Actual Values functionality to compare Forecast against Actual values then we’d recommend starting with 6 columns to display. If, initially, you’re not planning to use the Actual Values functionality then we’d suggest 12 columns to display is a good starting point).
3. Go to Set-up, Accounts then Cash In and click Create New. For each Cash In Heading, add your new Cash In title, a start date and save. Your new entries will now appear in the Cash In section. If you’ve a particular order you wish your headings to appear then change to the order you wish and save. Optionally, if you’ve a definite end date then add that date – this’ll stop values being added after that date and it will also ensure that if you’re viewing out with the date range you specified that heading entry will not show, keeping your Cashflow Forecasting uncluttered.
4. Repeat 3 above for Cash Out.
5. Now go to both your Cash In and Cash Out Sections and add your forecast values by clicking any forecast box, when the pop up appears just add the value/s as required. Note: for quick data entry, if it’s a regular repeat Cash In or Cash Out entry then use the repeat frequency function and the number of transactions, e.g. repeat monthly for 36 months.
Well Done – Your Simply Cashflow is now operational.
Note: To have a functional Cashflow Forecasting tool, that is, one that you can start using right away – you don’t need to use the Actual columns (in the Cash In/Cash Out sections) or use the ‘What if’ Cash In/‘What if’ Cash Out sections. These bring great benefits but are in addition to the basic functionality of Simply Cashflow.
Further details of how to get started and how to get the best out of Simply Cashflow view the online demos or view the guide section in the application.
Hope that helps,
The Technical Team, Simply Cashflow