There has been so much talk about cash flow forecasting in recent years. As a result, QuickBooks added a cash flow planning for accountant to use – on behalf of the client’s behalf. And now there is a new feature clients have to view cash flow within their own QuickBooks Online Advanced accounts.
This is separate from the view accountants have of cash flow planning. The QBO Advanced cash flow planner tool is truly designed and only visible for the client. The cash flow planner is easy to use and understand!
The Cash Flow Planner
The cash flow planner uses the existing QuickBooks Online data and connected accounts to generate a graphical view to help you plan your future cash flow.
Money In and Out View
Using your QuickBooks Online Data the Cash Flow Planner shows the shows the historical data collected from your QBO Advanced account(s).
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The green represents the money in while blue show the money out. This makes it easy to see how the business is performing.
Cash Balance View
The planner also has a Cash Balance view which demonstrates the cash activity within the QBO Advanced account.
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The cash balance has several date range options from which you may choose.
Adding Events for Future Planning
If the business owner wants to add in expected income and expense they can add “events”. This means the projected cash flow will be visible for future planning. Events can be added, edited and removed as needed.
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The simplified cash flow planner helps business owners make calculated projections. Once the client has opted into Cash Flow Planning the widget will be added to their dashboard for easy access.
As the accountant advisor this is a great feature to show off to your clients. Remember this is only visible on the client view. As of now this new feature is being rolled out in waves so not every individual with QuickBooks Online Advanced will have it as of yet, but if they don't they soon will.
This is just another example of how Intuit expanding the functional capabilities of QuickBooks Online Advanced and making more features available to users of that platform who need more sophisticated functions with which to run their businesses.