How to create a cashflow forecast with Futrli & QuickBooks Online
Your QBO budget is the springboard for your Futrli forecast. Both budgets and forecasts exist to guide you, so make the most of the insights they provide.
How does Futrli work with QBO?
Daily syncs with QBO means that your data is always in real-time. Cloud-based software is known for its agility and speed. QBO and Futrli are flexible, so you and your clients can make edits and adjustments with ease. Start by getting your budget up to date.
Budgeting ensures that you have enough cash to run your business. It shows your company’s intended direction, though is usually static. Following your budget will help you achieve goals, but there will be moments where you need to stop and regroup.
Similar to your budget, forecasting is crucial to running a business. Your forecast updates in real-time and ensures you’re constantly armed with up to date information about your business.
Budgeting shows where you want to go, while a forecasting updates to steer you past obstacles in your path.
Any new data in your account will be pulled into Futrli and be ready to go. If you’d prefer, however, you can manually sync with QuickBooks. It’s very simple (though will take a few more minutes), just navigate to the ‘Organisations’ tab and click the ‘Connect’ button.
Any budgets you’ve created in QuickBooks can be uploaded to Futrli via CSV. Once they’re in, you have freedom to edit, copy and report upon.
Import QuickBooks data with ease
You can use an example template, which contains the appropriate formatting for your budgets. Download and paste the values from your QBO budget into the template, which can be found in the ‘Scenarios’ section. You don’t have to use the template but it saves time.
Create your forecast any way you want
You’re now ready to create your forecast. Navigate to the ‘Scenarios’ section of Futrli, the place to build budgets, scenarios and cash flow forecasts.
Hit ‘New’ (adjacent to the organisation you’re uploading to), and update your settings. Once the automation is complete, you’ll be taken to the ‘Creation’ page.
There are seven ways to create a new budget, forecast or scenario when you get to this point:
- Create from scratch
– What if
- Create from CSV import
- Create from Last Year’s Actuals
– Quick Create
– Advanced create
- Create from a copy
– Quick copy
– Advanced copy
For example, ‘Create from Last Year’s Actuals’ and press ‘Quick Create’ and Futrli will examine your profits, costs and overheads (month-by-month) for the 12 months prior to your scenario’s chosen start date. These will then be applied going forward, and any known varieties are taken into account. For example, if sales peak in December and trough in January, it will be factored into your projection.