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Cash Projections

Emily Bastow

We are looking to dial in our cash projections due to COVID. The cash flow report isn’t quite what we need. I would like a report that shows actual dollars spent during and received during the period (not including things like prepaid expense allocations or unpaid pledges) broken down by account code in a format similar to an income statement if possible. Any creative ideas on how to accomplish this?

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Comments

James Hess

Have you tried using the Filters for Journals and selecting only the Journals that have your cash transactions, (A/P, RE, payroll, etc) excluding Journal Entry which typically has the prepaid allocations? A/P could be a problem if you enter a lot of invoices that arent paid for several weeks. We enter them and pay the same week so that works ok for us.

Emily Bastow

This is a good idea. Our payroll is entered thru a JE and not thru a separate sub ledger so that might be problematic, but I’m going to give this a try. Thanks for responding!

Mary Aquino

Hey Emily - this may not work for you, or you may not want to change up how you do your payroll journal entries, but if you want to add a journal value that is specific to Payroll journal entries, then James' idea would work across the board. It wouldn't pick up PAST entries but it would work going forward. Something like Journal Entry-Payroll or Payroll Journal Entry would probably do.

Since it's a process change, I'd check with your auditor/CPA/other members of your team before making any change like that but I just wanted to put it out there.

Eddie Barker

Hi Emily,

In addition to what's been said about a different journal entry code that is just used for payroll entries coming from an external source, I am working on the Sky Reporting and Insight Designer preview, and had a conversation with a customer a few weeks ago who didn't use encumbrance accounting in Financial Edge NXT, but was going to explore using the encumbrance journals to book expenses just for cash flow reporting (and insights), and because you can specify regular or encumbrance transactions in most of your reporting, that was a way to keep them segregated (of course, there's effort in journalizing between the two). She's still going through the process on that, don't know yet if she's going to execute that idea since they're testing, but I thought I'd just throw it out as a suggestion, if you wanted to do deeper cash flow reporting, add those transaction journals together, for regular monthly statement package preparation, choose to exclude it.

Monica Hoffman

We also struggle with cash projections [and cash flow]. I run monthly reports outputting all activity in the cash accounts. I have a query set up with the same parameters that mirror the reports. The query results are exported to Excel. I parse the information there to separate totals for A/P, A/P for capital, C/R, C/R for capital, salaries, etc. There are often outliers, but the process is flexible enough and I've done it often enough so that it isn't cumbersome anymore. I'd like to see more functionality in FE to reduce the amount of effort that goes into producing these reports which are necessary to manage cash flow.

Emily Bastow

Monica Hoffman:

We also struggle with cash projections [and cash flow]. I run monthly reports outputting all activity in the cash accounts. I have a query set up with the same parameters that mirror the reports. The query results are exported to Excel. I parse the information there to separate totals for A/P, A/P for capital, C/R, C/R for capital, salaries, etc. There are often outliers, but the process is flexible enough and I've done it often enough so that it isn't cumbersome anymore. I'd like to see more functionality in FE to reduce the amount of effort that goes into producing these reports which are necessary to manage cash flow.

Hi Monica,

This seems like it might be a really good work around for us. Would you mind giving me more detail on the exact reports you run so I can attempt to duplicate this process?