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Every business person who opens a company must record the details related to the flow of money. Any company's cash- flow statement helps the process run easily and is also good for helping the business grow. QuickBooks is software generally used for business accounting purposes.
Most of the professional accounting firm and small businesses may find this application useful.
The QuickBooks cash flow forecasts show the estimated revenue for a fixed period. The cash flow projection gives the user a view of his near future, and QuickBooks forecasting helps with larger plans.
By calculating your expected cash flow, it is also helpful to put your reports together in one place.
Now the question arises that how to forecast cash flow in QuickBooks, so here is the answer-
1. Go to the company menu and hover the planning and budgeting, and then click over the forecast option.
2. Select create new forecast
3. Choose the required fiscal year for the forecast
4. Choose either create a forecast from scratch or create a forecast from the previous year’s actual data
5. Finally select finish
Here is how QuickBooks can be found useful-
QuickBooks is accounting software that makes you control your finances and cash flow, thus aiming to grow your business. Do QuickBooks forecasting tools help in resolving your issue of how to forecast cash flow? It also helps in consolidating customer and supplier data.
Also, the various positive sides of QuickBooks include the following –
1. Easily Create and manage the Invoices
QuickBooks helps create invoices on a professional level; it sends them through email or prints them. It is a great source for keeping track of who has to pay you money and whether your firm has been paid on time or not.
2. Track Sales and Expenses
Tracking your sales and expenses along with QuickBooks cash flow forecast gives a sketchy idea of how your business is doing so that you can make your decisions wisely on how to grow your business.
3. Instant Access to the Critical Information and Reports
If you are facing any difficulty in cash flow projection, you can always use QuickBooks' internet facility at one click of a button. Also, apart from cash flow projection QuickBooks provides you with business knowledge with pre-built and customized reports.
This software is entirely web-based, and hence, it saves your time of installation on your device. All you need is to launch your web browser, and you are ready to go. QuickBooks cash flow statement can be generated by clicking on "all reports" and choosing "business overview". This helps in knowing how much money you have received and the records of the unpaid bills.
Similarly, the financial statements in QuickBooks are present under the reports section of the dashboard. All statements related to profit and loss and statements of cash flow are available here.
In this article you'll learn what is GAAP and why is it important in an Accounting Firm.
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Updated on February 28, 2021
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