Company can estimate its future cash flows by using Cashflow forecast report. The reports uses the latest bank statement, all receipts and hand made cash flow points to estimate the future. The report can be found from Reporting > Cashflow forecast.
Creating a forecast
Cashflow forecast takes into account the most recent bank statement, all receipts in Procountor and own hand made forecast events.
1. Select which bank statement(s) will be taken into account to the opening balance of the forecast.
2. Select if the overdue invoices should be taken to the forecast.
3. After the search criteria has been chosen, the forecast will be updated automatically.
4. If there is a need to add some events that are not invoices in Procountor, add the events by using Edit forecasted events button.
- Notice that these events are not actual receipts in Procountor. If the actual receipt arrives to Procountor at some point, the hand made event should be deleted from the forecast to avoid duplicates.
- Read more about adding own events below.
5. Select how the forecast is shown, in table or graph. The forecast will be shown in a table by default.
6. Select the time period for the forecast. Is it a weeks, days, or months view.
Reading the forecast
The forecast can be shown in a table or in a graph.
- Forecast events are fetched by using receipts due date.
- Except VAT summary events.
- If the due date is during weekends the event will be shown the next Monday after the due date.
- Except salaries which are shown in the previous Friday.
- The report shows receipts from status Approved.
- The report does not take into account the Tax return for self-assessed taxes (except VAT) and the employer’s separate report.
Reading the table
- Opening balance of the first column comes from the balance of the selected bank account. After the first column the next opening balances will be the closing balance of the previous day.
- The invoices that the forecast takes into account can be seen as a list by clicking the day/week/month date of the column.
- Notice that the invoices that are partly paid will be seen in the forecast as a whole.
- VAT receivables and VAT debts cells fetch the information from the VAT summary report.
- VAT information will be fetched according to the VAT period length. For example if the period length is one month and the VAT summary has been done for 12/2019 the VAT debt will be shown in 12.2.2020 in the Cashflow forecast.
- Other income/expenses columns will only show hand made forecast events. Thy are not real receipts.
- If the actual receipt arrives to Procountor at some point, the hand made event should be deleted from the forecast to avoid duplicates.
- Overdue inflows/outflows cell will gather all the invoices that are overdue. The invoice status should be something else than Paid or Paid elsewhere.
- Partly paid invoices will be shown as whole in the report.
- The list of the overdue invoices can be found by clicking the sum of the overdue cell.
Reading the graph
The Cashflow report can be shown as a graph by clicking Show graph button. The graph events gather the ending balance of each period.
- More detailed information about the event invoices can be found from the table format of the forecast.
Creating own forecast events
Own forecast events can be created by clicking Edit forecasted events button.
- Notice that these events are not actual receipts in Procountor. If the actual receipt arrives to Procountor at some point, the hand made event should be deleted from the forecast to avoid duplicates.
1. New events are added clicking Add row button.
2. Fill in the event due date, sum, invoice type and name.
3. By clicking Create link, a recurrence event can be created. An event that will recur for example rent event.
- Select how often the event will be repeated.
- Select the end date for the recurrence event.
- Click Save.
- Procountor will create several events according to the made recurrence event.
Recurrence events can also be made by clicking Add recurrence button after which a pop-up will open.
Editing events
The forecast events can be edited by clicking the event and editing it or simply deleting the event.
- Recurrence events can be noticed by looking at the Recurrence column. The events that recur have the same recurrence text. If one recurrence event is edited to be different from the other events then the Recurrence column text will be changed to Create. This means that the event is not in the same chain with the other events.
- If all the same recurrence events should be changed select the Recurrence column text and modify all the events at the same time.
- This changes all the events in the same chain.
Exporting the forecast
The forecast can be exported to different kinds of file types from the view in Procountor for further analysis and examination. When the right button of the mouse is clicked in the Forecast section, the export file type can be chosen from the following options:
- Excel
- HTML