Float is cash flow forecasting software that integrates with QuickBooks® Online (QBO) to provide businesses an up-to-date, accurate understanding of their future cash position. Float has helped thousands of businesses look forwards, not backwards, showing a business’s future bank balance in the coming weeks, months and years.
Better Than a Spreadsheet
Anyone who’s run a cash flow from a spreadsheet knows that getting a month beginning and month end is one thing, but getting that all-important daily view of your numbers is something else altogether. Float takes the pain out of constantly updating a spreadsheet with a daily sync to QBO, pulling in all of your actuals, as well as expected invoices and bills.
When your budget starts filling up with your actuals imported from QBO every day, you can see, at the click of a button, which bills and invoices are causing that change, meaning no number goes unexplained. For more on this, check out the 8 reasons why Float is better than a spreadsheet.
How Does It Work with QBO?
Float imports all matched bills, invoices and transactions from QBO each day, automatically building a picture of a business’s current and future cash positions. With our automatic updates, you can easily see where your business is headed, track progress towards goals and drill down into the detail behind the numbers.
As soon as you log into Float, you instantly see your cash position from the past three months, as well as what it’s going to be in the next few months (up to two years)
Enter Future Budgets
To set Float up, you’ll need to plug in your expected cash in and cash out across each account in the cash flow table. We call these budgets. These are your best guesses, and are not officially tied to any transactions. As the month goes on, your incoming invoices, bills and payments ‘fill up’ these budgets. Budgets can be one-off amounts, or you can set them to reoccur monthly, every other week or every week.
Drill into the Detail
You can always click into a cell to compare your budgets vs. your actuals, as well as the percentage variance. You can do this in the current and past months. This is useful to check whether you need to adapt to your future budgets.
Float makes scenario planning simple. Copy your official forecast into a new scenario, tweak what you want to and compare the resulting cash balance projection. Are you thinking of hiring a new employee? Adjust the payroll line. Looking at an optimistic sales forecast? Increase your budget for sales. Most business plans require cash. Float can help you visualize those plans.
Manage Bills and Invoices
The way Float works is to look at a bill or an invoice and register the due date. This due date is how we predict when cash will actually move. Obviously, that is a good indicator, but it’s not how business actually works. So, we let our users manually set expected dates, which allows them to more accurately model their short-term cash flow.
Constantly Up to Date
Every 24 hours, we automatically pull in your QBO data and update your Float account with the latest information. So, if any bills, invoices or payments have been added into QBO, or if any cash has moved in or out of your business, you will see this reflected in Float. You can also manually pull in the data whenever you want. Download the Float app.
New QuickBooks Apps
Here’s the newest batch of apps that integrate with QBO:
Jetpack Workflow – Client and workflow management for accounting firms.
SmartBiz Loans – SmartBiz integrates seamlessly with QuickBooks to help you pre-qualify for an SBA loan quickly and easily.
Jones – Get the right insurance coverage for your business, effortlessly.
Auto Entry – Automates entry of bills, receipts, bank statements, sales invoices and more.
StatX Mobile Dashboard – Automated mobile dashboards for QBO and Excel.