While other parts of life may be edging towards a more predictable normality, it’s still an uncertain time for many businesses. We launched our Cashflow forecasting tool a few months back to help you manage your short-term business cashflow. Since then, we’ve had fantastic feedback and some helpful suggestions on how we could improve the feature.
We’ve just launched a major update to address many of those suggestions and to make our Cashflow tool even more flexible and powerful.
First up, we’ve improved our prediction algorithm to include more ‘fixed cost’ payments, like rent and professional fees, to improve the accuracy of the forecast.
You can now add ‘manual events’ to your Cashflow calculation in order to model different scenarios. You can even change the dates of predicted events, which may be useful if you know an invoice is going to be paid late.
Speaking of late payment, you can now send a payment reminder email directly from the Cashflow area of your FreeAgent account.
Finally, if you have an Open Banking feed for a NatWest, Royal Bank of Scotland or Ulster Bank NI current account, FreeAgent will now include the details of any standing orders in your Cashflow calculation automatically.
All of these updates improve the accuracy of the Cashflow forecast, hopefully making it an even more useful tool for managing your business finances. You can read more about Cashflow in our Knowledge Base or see it for yourself in your FreeAgent account.