Short-term cash flow, mix invoices with projections
When viewing the 90-day short-term cash flow projection, payments from our on-site shop show 90 days of predicted income. However, for customers with existing invoices in the system, only those invoices are displayed.
The issue arises when customers have only 30 or 60 days of invoices, causing a drop-off in the cash projection after 60 days.
Proposed Solution:
- Combine existing invoices in Xero with predictions for future invoices.
- Automatically remove these predictions when an actual invoice is entered into the system.
Richard Webb
shared this idea
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Optimus Fintech
commented
You can also check automated invoicing reconciliation system to stay assured with the structured cash reconciliation procedures.
Try here to get demo on this, https://optimus.tech/get-demo
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Optimus Fintech
commented
For seamless invoice matching and reconciliation purposes, automated financial reconciliation tools would be the best option as it hold history of old and new data that is fed to the system.
In return, it also remove the duplicates and highlights records that mismatches
with the invoices data, with more features. To perform this, you can refer this page: https://optimus.tech/knowledge-base/invoice-matching -
Alex Alden
commented
To strongly second this — I find this extremely disappointing.
It picks up my web orders into my main account, and then it looks at open invoices — and that’s it!
Clearly, for this to be of any use, it needs to give us a cash flow based on all sources of sales income. Perhaps it needs a setting where we can guide it — choose which accounts, which contacts, which income codes to include, etc.
It’s such a shame because visually, it looks perfect — exactly the kind of thing most business owners need. I don’t generally need more than 90 days. I just want to know where I’m going to be over the next few months.
But If it doesn’t track sales or project expected income, can we even really call this a cash flow projection?