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    9 Replies Latest reply on Jan 25, 2014 8:22 AM by chicagocio

    Cash Flow Management

    Tran Nguyen Tracker

      Hello Everybody,

       

      Recently, I have had several requests for a Cash Flow Management Tool that could do:

       

      1. Cash Tracking

      2. Cash Flow Projection

      3. Budgets

       

      I am happy to say that I have created one if anybody is interested in giving it a try and giving me their feed backs.

       

      Best Regards,

      Tran Nguyen

      Accountant

        • Re: Cash Flow Management
          osu1buckeye Wayfarer

          Would like to see it but I can't seem to open the xlsx file.

           

          Heinie

          • Re: Cash Flow Management
            Moderator Berta Guide

            I've looked at your worksheet & that looks like it would be fairly simple to use for anyone. I haven't tried it as of yet but your instructions are easy to follow & I will sit down soon to try to use it as a personal budgeting tool for my household. I'll let you know how it works for me.

             

            ~Berta

            • Re: Cash Flow Management
              kimmy burguess Adventurer

              You need to keep track of all your business incomings and outgoings and one way of doing this is to choose a good accountant. By doing this it will save you and your business time and money.
              Another way of achieving good cash flow management is through monitoring, analysing and adjusting your businesses cash flow.

              • Re: Cash Flow Management
                Tran Nguyen Tracker

                Hi All,

                 

                Thank you for the comments. I was curious if anybody had the chance to play around with the worksheet yet. I'm anxious to see it performs and if there are any adjustments I can make it to it.

                 

                Thank you for taking the time to use my cash flow worksheet!

                • Re: Cash Flow Management
                  crifjohnson Tracker

                  Hi everybody,

                  I am not sure that my suggestion help in every condition of business. To establish business eight er large or small One point we should keep in our mind that is basic principle of management. The cash flow management is not a different part of business , For the soother flow of cash require keeping track on every incoming and outgoing source of  income. 

                  • Re: Cash Flow Management
                    Jim Peters Tracker

                    This sheet would work just fine for household purposes. You would however need to improvise for business purposes. You start the same way with actuals and then go on making changes for projections. You need inflows as well as outflows. This would help you understand where you are likely to face a squeeze and where you will be in the money.

                    • Re: Cash Flow Management
                      chicagocio Scout

                      I think I am puzzled as why one wouldn't do something like quick books online to keep track of business finances.  Admittedly the sheet possesses a simple interface.  And it's free. As a business owner I want to keep do more than just measure my cash flow. And really the cost of something like quick books is really a drop in the bucket compared to other expenses.  Understanding where my money is going by seeing breakdowns by category, saving time and error on data entry by downloading transactions directly from my online bank accounts, etc. are pretty important.   Since I've had to file a few schedule C's before I now know what kind of expenses I will write off and Quicken lets me produce a cash flow report.  It's pretty easy to compile the numbers.  This may be okay for small numbers of transactions but from an IT perspective I would wonder how well it would work if you got really busy, it becomes another disparate file you have to secure and backup.  In this format, it might only be available on a computer and not accessible from a tablet or phone.  I'd say this sheet would be great to use to help you understand basic concepts but I'd be hesitant to run your daily business operations on it.

                        • Re: Cash Flow Management
                          Tran Nguyen Tracker

                          Hi Chicago,

                           

                          The idea isn't to run a business off using the cash flow sheet that I created. That sheet is only meant to fine tune and be a tool in running your business. As you know, a projection change in quickbooks and other accounting software could means having to revamp everything (I ran into that problem when working with start-up businesses and particularly, manufacturers).

                           

                          This excel sheet gives business owner the freedom to take what is already entered into the accounting software and project out and play around without any concern for the system. I like to tell clients that this is like a calorie book. The more you look in your book, the more you are aware of what you are eating and how to become healthier. This sheet is the same way -- it is meant to educate business owners so they know more about what is going on in their business.

                           

                          The added bonus is that the sheet will allow fine tuning of a business. Since it can be tracked by both vendors and chart of account, it gives greater freedom for information. Aside from the bonuses of being able to use graphs and pivot tables -- the cash flow sheet is meant to be a bit time consuming. Since owners or accountants are meant to sit down and actually look at each transactions and become more familiar with the business.

                           

                          To recap -- this sheet is not meant to run a business. Simply, to supplement and help. As many business owners can appreciate, the cost saving is in the fine tuning of the business.

                           

                          Tran Nguyen

                          Accountant

                            • Re: Cash Flow Management
                              Jim Peters Tracker

                              The Cash Flow is actually a very significant MIS report and expected by every management everyday or at least once a week. This is especially true of those firms who are highly leveraged or who handle cash in large quantities. It gives a birds eye view of whether the business is self-sustaining or whether it is constantly eating up resources.

                              • Re: Cash Flow Management
                                chicagocio Scout

                                So, this is for projecting purposes then? So maybe I go into my accounting software (I use Quicken) and export last year's income and expense report which produces the same output that I see in your weekly cash flow sheet.  Copy those numbers over into your sheet and then start changing them around based on how I think things will be for the next week, month, year etc.  Then I can see what the projected cash flow would be.