Short term cashflow - Option to include payroll
Very simply, short term cashflow does not include a range of items the biggest and most important of which is payroll. I think if you are selling this feature you should be very wary of the need for a disclaimer if the feature fails to be accurate, and decisions could be made on false information if for example the biggest expense item being wages is not included.
Granted it should be something people take great care when making financial decisions and should note the issue, many don't have great financial literacy which is part of why xero was created in the first place, I just see this as a deal breaker in terms of actually using the feature at all. It needs to actually work.
Andrew Freebairn
shared this idea
Thanks for your feedback here, everyone. To confirm, if you're using Xero Analytics Plus the dashboard can predict payroll expenses if they’re reconciled as spend money transactions or bills, and are regular in amount and frequency. To manually include payroll expenses, add them as upcoming money out transactions.
We don't have any planned changes for how these type of transactions are represented in Short term cashflows in the near term. If there are any updates made we'll share this with you here.
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Bonny Amemiya
commented
Payroll is our largest expense and not having it included in our analytics makes our cash flow prediction of very limited value.
Our payroll is processed through a single contact so an option to include cash flow predictions by contact would increase the accuracy for us.
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Steve Walker
commented
The more I use Xero, the more issues I find. What use is a cashflow forecast without payroll. I wonder how many users have based decisions on this forecast?
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Christie van der Beeke
commented
I have just attended the Cash Flow with Xero webinar, which was useful. However, it was confirmed that payroll is not a part of the cash flow forecasting/analytics functionality. Payroll can be a significant cost to a business, and cashflow forecasting excluding it is pointless. It is not a true representation of your cashflow or analytics if it does not include payroll. As payroll is also a function within Xero, is this something that Xero is looking to add to the cash flow forecasting/analytics functionality?
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Fraser Heaton
commented
Agreed, need this feature to include payroll.
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Ryan Fife
commented
I tried out the cashflow feature and instantly found it pretty useless without payroll. I agree.