I'll provide the steps on how to prepare a Statement of Cash Flows using a direct method, @finance-techcore.
Yes, we have a cash flow statement template that's ready for customization when using the direct method. We'll need to manually prepare it since QuickBooks Online (QBO) runs the said report on an accrual basis.
First, let's gather and take note of all your cash amounts received and paid by your company. These will serve as your reference when filling out the spreadsheet below. Here are the examples:
Second, let's download the cash flow statement template to manually prepare your report using the direct method. You can also run Profit & Loss and Balance Sheet on a cash basis for your other data references. From there, enter the applicable values in their respective cells. The total amounts will auto-populate based on the embedded formulas. You'll also get a sample cash flow statement to help guide you through the process, as seen in the screenshot below.
To learn more about the process above, check out this article: A Guide To Cash Flow Statements With Template (Direct Vs. Indirect Method).
Also, I recommend turning on the Cash Flow Dashboard Widget to get a clearer picture of money coming in and going out over the last 12 months. Just go to the Settings (gear) icon at the upper right and select QuickBooks Labs. Then, enable this feature and click Done. After that, you'll see this on the Dashboard menu. Here's what it looks like:
I'm here anytime you have other concerns. Take care always, @finance-techcore.
thanks for the template.
Can QB do this for me automatically? You have supplied me with a template but how do I get the info? For instance "cash received from customers" - where do I get this information?
Thanks for getting back to us, @finance-techcore.
Currently, the option to automatically let QuickBooks Online (QBO) pull up the cash flow statement template for you is not yet available. You need to download it manually and fill or enter the applicable values, as mentioned by my colleague above. Also, you can use the Profit & Loss and Balance Sheet on a cash basis reports for your reference.
I can see how having this option would be helpful for you and your business. Rest assured that I'll pass along your suggestion to our Product Developers. They're always looking for ideas to consider on how to improve QBO.
In the meantime, I recommend visiting our Blog site. This is where we share recent happenings and future developments, such as updates to newly added features.
Just in case, I'll add these articles for future reference:
Reach out to me in the comment section below if you have any other issues or concerns. I'm more than willing to assist. Have a good one!
Hi - I am sure you know that:
cash basis PL & BS doesn't work (still puts in JE s and non-cash items)
XERO (competitor) already has it
Question - template asks me to input this info - so WHERE DO I GET IT?
|Collections from Customer Credit Accounts|
|Loan or Other Cash Injection|
|Income Tax Refund|
|Misc. Cash Receipts|
|TOTAL CASH RECEIPTS|
|LESS: CASH PAYMENTS|
|COST OF GOODS SOLD:|
|Direct Product/Service Costs|
Thanks for getting back to us, finance-techcore.
Allow me to share additional insight about managing Statement of Cash Flow in QuickBooks Online (QBO).
The information on QBO reports depends on the chosen type of industry when you set up your company file. That said, the downloaded template for cash flow statement should be customized to include necessary types of cash flow activities that is applicable to your business type.
To make sure everything is accurate, I recommend working with your accountant or any knowledgeable financial specialist in filling up the downloaded Cash Low Statement template. They can provide expert advice on how to deal this type of situation.
You can also find an accountant by clicking on this link: Find an accountant.
We are finding more ways to improve the report options for our customers convenience. While we do, I encourage you to visit our QuickBooks Blog where we post the most recent feature updates of the product.
If there's anything I can help you with, feel free to drop me a reply below. Hope you have a good one.
HI - so disappointing.
can't you just admin that QB has no ability to provide a DIRECT cash flow statement? and that there is not way to get this information anywhere?
If you are working on it - great. Can you please give my contact to your dev team? I would like to know when you guys will have it...(all CFOs want to know that) Once again you competitors already have it - please don't be left behind!!!! We want to QB to continue succeeding but you have to move fowward.
I am also frustrated about the Direct Cash Flow report not available. It would be so simple for QB to do it.
I am under a program called Profit First where I need to have the Direct Cash Flow Statement. Too highly time-consuming. Please advise when the report will be ready.
I understand the importance of having the ability to run a Direct Cash Flow report. Your business cash flow is the amount of money moving in and out of your business and bank account. Currently, QuickBooks Online offers different reports and projections to get a clear look at your current and future businesses' finances. You can generate and customize these reports to suit your business needs.
Also, you follow the information shared by my colleague above, RaymondJayO.
Get back to us here if you have further questions or concerns. You can reach out to the Community at any time. Take care and have a great day!
Thanks for your reply!
I use Quickbooks Enterprise.
I need to dig in into advance reporting but the work I would do could be done by someone in QB only once and all the customers can benefit from ti.
Sometimes I don't understand big companies (including Salesforce) that can easily focus on quick-hit type of deals that can make everyone's life better and
We haven't received an update about the availability of the direct method when using cash flow for QuickBooks Online International, jmeghnani.
For now, you can run and manually customise your report. I've added this link to learn more about the outflow of your business: How to prepare and analyze a statement of cash flows.
Stay in touch if you need additional information by commenting below. I'm always right here to help you.
The request was sent in 2020. Today is 2022, any updates so far? We, your customers, would really like this feature (as well as the batch upload too). Would you be able to give us a definitive timeline? This is extremely useful for small businesses that uses QBO. Whereas other competitor have implemented this in their offering, we are still loyal to QB and hope you will do something in this great year 2022 for your customers.
Thank you for joining in on the thread, R_cam!
I understand how much you need this feature. However, there isn't an update about this.
Requests are sent to the product development team, so they know what users want or need. However, we only know, as support, if a particular feature is available when it's launched. We're unaware the things they’re working on right now, so we can’t tell if a particular request has been developed, is pending, or is rejected. Let’s just stick to the standard that more requests can have more chances to be prioritized.
Let me know if you have other questions in mind. Take care and have a good one!
7 months later…. Can you provide an update on direct cash flow report. It’s quite staggering that this is not available when the information is held within QB. Is anyone listening in product development or is the reality that due to the data structure this is not possible. To require a manual construct is not really acceptable. An update would be great for the many many people who would benefit from this. Thx
I agree 100% NOT GOOD ENOUGH Quickbooks!! Come on, it's been years of knowing this is a pain point for all users. You can't just give the advice, "go ask your accountant" when many of us ARE ACCOUNTANT users and the answer IS NOT that we should have to dig through tons of data manually and build a spreadsheet every time we need to pull a Stmt of Cash Flows using the Direct method!
This should be on the top of your development agenda and PS: your "Cash flow" Overview/Planner is NOT a substitute, nor even a worthwhile feature right now. Spend that time and those resources on developing a Direct Method Stmt of Cashflows.
I decided to CHEER the other posts and not yours. I realised you do not have any CHEERS since January! That says a lot about Quickbooks priority. The Cheers means that your customers wants it. SO, please put some thing into this. We are Accountants. Give us what we want. You are already good at the other things. All you have to do is just create this for us. Why the slow progress? Did you not hear our calls for this since 2020? Please. Please Please Prioritise this. Prioritise this. Prioritise this. Else, please escalate this to your COO or better still, to your CFO and accountants for their views. They may find this feature is needed by many. Please prioritise what the customer wants. I am willing to stay longer with Quickbooks if you add this.
Hi DC78.and thank you for responding in this thread.
We understand the the significance of being able to run a Direct Cash Flow report in QuickBooks Online. However, we haven't received any updates on the availability of this feature as of yet. Rest assured, all your valuable feedbacks is read and reviewed by our Product Development Team.
In the meantime, we can utilize other financial reports and customize it to track your cash flow in QuickBooks Online.
I've also added this article for more details and to learn how to run a Statement of Cash Flows.
Let us know if you still need help or if you have other concerns about it. Have a great day!
I guess we really dont understand what "we haven't received any updates on the availability of this feature as of yet" means.
Does it mean that there is no intention to develop this at all?
Does it mean that it is included but somewhere in the middle of the stack of priorities?
Does it mean that you recommend us to buy a 3rd party app (if any) that provides this rather than developing it?
What would be nice is that Quickbooks would put a tentative date when this will be introduced and in which version. Please clarify.
I appreciate your concern for updates on the possibility of being able to run a Direct Cash Flow report, @R_cam.
It's a good idea for QuickBooks Online to offer a function that enables you to run this report. However, as of the right moment, this option is not accessible.
The majority of our clients will benefit from the development roadmaps that our developers are always working on. Since they handle product changes internally, we are unable to disclose any updates at this time regarding their efforts.
We wanted to comprehend your company's demands, and I want you to know that. The program is changed depending on several variables.
If you have more questions about the cash flow report, please don’t hesitate to post them here. Stay safe!