Hello all!
I run a small marketing agency, and I'm trying to get better insight into our cash flow projections for the next 6-12 months by using the Cash Flow Planner feature. I've struggled to find helpful documentation on Cash Flow Planner in Quickbooks Online, so I figured I'd reach out and see if anyone had insight or experience.
We have quite a few recurring bills - I would say 85% or more. From the monthly benefits, to software subscriptions, to rent - most of our billing is monthly and predictable. I pay the majority of bills using my credit card (minus health benefits, rent, and other similar expenses).
To make the Cash Flow Planner easier to use, I've spent a lot of time adding all my bills as recurring templates. This has made categorizing transactions in the Banking tab a breeze! Here's where I'm trying to wrap my head around the Cash Flow Planner functionality...
It seems like the planner deducts bills from my cash balance as they occur - which makes total sense. However, the majority of these bills are being paid via credit card - thus the actual payment is deferred by up to 50-ish days, depending on when the transaction occurred. So not only is the cash not being deducted from balance on the listed day - I would assume this is messing up Cash Flow Planner because it's assuming these expenses were already accounted for in the balance, thus not accounting for these payments down the road.
I've been entering in my card payment as a future (planned) bill every time the statement is sent (so about 30 days out from payment). It doesn't seem like Cash Flow Planner accounts for this payment. Which again, makes sense as it's deducting these bills "as they occur."
Payroll and taxes (run via Quickbooks Desktop) are entered manually as recurring items in Cash Flow Planner. Invoices are sent via QBO, and often received via bank transfer or credit card, so those invoices are being automatically accounted for in Cash Flow Planner.
So, the question: is there a way to sort these recurring credit card charges for increased clarity? Can I utilize the recurring bills to estimate a credit card payment in Cash Flow Planner for months in advance? And if so, how do I designate what is paid via CC and what is paid via bank (if even possible)?
Thanks in advance for any help - it's fun trying to wear multiple hats in a business!
TL;DR: Need help using QBO Cash Flow Planner to accurately track recurring bills that are paid via credit card.
