“…but cash is king” – unknown.
At this present time of turbulence in business, this old adage is at its most relevant. To know or predict cashflow is of paramount importance as we navigate a volatile time. The Workbench contracts module allows us to forecast the final cost of a project on a monthly basis. This allows in turn a cashflow to be plotted into the future based upon the dollar amount yet to spend. The drawback, at this moment in time, is that the cashflow is based upon invoices as opposed to payments. Reporting a healthy revenue is great, until the revenue fails to be realised in terms of cash. Likewise, you may have processed Accounts Payable invoices for payment, but they are sitting in your financial system awaiting the cash with which to pay.
By harnessing the power of Sharperlight and Excel, we do have a solution. Introducing the variables of debtor and creditor ‘pace’ and bringing in other manual data, we can model the actual bank cashflow. Our trusted partner Nigel Evans of Translate IT explains the process in this document :
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