Cash Flow

 

The cash flow report details the forecasted balance in the banks (and the cash box).

Note: Many businesses complain that they are unable to issue an accurate cash flow. Some businesses prepare their cash flow in the following manner: They ask the bank what is the balance of the account and then add open transactions to this balance (issued and received Postdated Checks). This is not the right way. In many cases, the account balance in the bank is incorrect because it does not include issued checks with past payment dates which have not yet been repaid. In order to issue an accurate cash flow, it is necessary to record Bank reconciliations on a regular basis and to issue this report. Contacting the bank would not be helpful, it is better to “trust” the balance recorded in WizCount.

Date: This section sets the cash flow period (for example, from today to the end of the month). The software calculates the cash flow by the Due Date field (the check payment date, expected invoice payment date, etc.).

The following lines determine the Account Cards Filtering and the Transactions Filtering to be included in the report.

 

What should be included in the report:

The classification of the Account Cards (banks, cash boxes, customers, vendors) is determined by the Main Account field in the Account Card.

Banks – Transactions recorded in Bank Cards, for example: checks deposited in the bank and checks received from the bank.

Cash Boxes – Transactions recorded in cash boxes cards. For example: checks that were recorded in the cash box but have not yet been deposited.

Vendors / Customers – Invoices received from vendors, and customer invoices, which have not yet been repaid. It is assumed that the invoices will be repaid. (See below – Average Payments Delay).

Active / Inactive – this section determines whether the report should include only active cards or inactive cards, or both.

 

Future transactions to be included in the report:

Forecasted Transactions – Transactions that are not recorded in the company’s books but indicate expected expenses or income (for example: salaries to be paid next month).

Delivery Notes / Orders / Debit notes – delivery notes, orders and open debit notes. It is assumed that the company would issue invoices for delivery notes, orders and debit notes and that these invoices would be paid. This section applies to delivery notes and orders from both customers and vendors.

Average Payment Delay – WizCount includes a statistic feature that allows you to calculate the average number of days that a customer is late in making their invoices payment (or the business is late in payment of invoices received from vendors) The calculation is based on previously paid invoices (i.e. the calculation ignores open invoices).

The calculation results are recorded in the Average Payment Delay field on the Account Card. This figure can be corrected manually (for example, if the customer promised to reduce the number of delay days). The current section is used to determine whether the Average Payments Delay data should be taken into consideration or not. If this checkbox is checked, the software will postpone the forecasted invoice repayment date by the number of days recorded as the customer’s (or vendor’s) Average Payments Delay.

 

Printing Properties:

 Printing Method – This section determines the level of detail for each day:

Each date on a separate line – Only print the incoming and outgoing total amount expected for each day.

List of groups for each date – Print the incoming and outgoing amounts for each account group (banks, cash boxes, customers, vendors).

List of accounts for each date – Print the incoming and outgoing amounts for each account card participating in the cash flow. Choose whether to display the account name for each transaction as well.

 

 

Skip to content