Learn how to use the tools in the Cash Flow Center to track the money coming in and out of your business. The Cash Flow Center is available on mobile iOS. It will be available on the web and android soon.
Managing cash flow, the money coming in and going out of your business, is key to success. But your bank and credit card balances change constantly. This makes it difficult to keep track of everything or know how much money you'll have in the future.
With the Cash Flow Center in QuickBooks Online, you get tools designed to track your cash flow. They can help you save money proactively and help you make informed decisions about your sales and spending.
|Note: The Cash Flow Center is available for new QuickBooks Online and QuickBooks Payment users. It's not available for current QuickBooks Payments users yet, but it will be soon.|
Step 1: Sign up for QuickBooks Payments
You can apply for QuickBooks Payments and a QuickBooks Cash account in the Cash Flow Center. It's the same signup process for both features. If you're approved, you get to use all the tools in the Cash Flow Center.
Many customers will qualify for everything. However, you may only qualify for QuickBooks Payments. This means you can still process customer payments but won't get a QuickBooks Cash account. Learn more about getting approved for QuickBooks Cash.
Step 2: Move money to and from your QuickBooks Cash account
To move money in and out of your QuickBooks Cash account, follow the steps to connect your external bank accounts to QuickBooks Cash.
Think of QuickBooks Cash as your business checking account within QuickBooks. Use it to make deposits, pay for expenses, and put money aside in virtual envelopes. The actions you take with the account add data to the planner so you can help plan your cash flow better.
Step 3: Use the Cash Flow Center tools
In addition to a daily summary, the Cash Flow Center has three main features: the QuickBooks Cash account, the Cash Flow Planner, and envelopes.
Use your QuickBooks Cash account to collect money
QuickBooks Cash account is your checking account within QuickBooks. Use it to collect invoice payments, pay business expenses, or put aside money for special purposes. You can transfer money from QuickBooks Cash to your external bank accounts. You can also use the QuickBooks Debit Card to get cash from ATMs and make purchases like any other Visa debit card.
Learn more about the QuickBooks Cash account.
Use the Cash Flow Planner to get predictions about your future cash flow
The Cash Flow Planner is an interactive tool that lets you explore future money in and money out situations without affecting your books. This lets you make informed decisions about your sales and spending.
The planner analyzes your data, looks for patterns, and predicts future events. It gets data from the rest of QuickBooks, your QuickBooks Cash account, and connected bank accounts. You can also manually add events to tell QuickBooks about possible money in and out on the horizon.
Learn more about the Cash Flow Planner.
Use envelopes to save for future expenses
Need money for a rainy day? Want to put aside funds for upcoming expenses like payroll? Save your money in special subaccounts called envelopes.
Create envelopes for specific purposes or as general funds so you always have money when you need it. Money in envelopes is kept separate from the money in your QuickBooks Cash account so you don't accidentally spend it.
Learn more about envelopes.