Thursday, 28 January 2021 16:25

QuickBooks cash flow planner gains features

By

Intuit QuickBooks has has added five new features to the popular accounting software's cash flow planner.

First launched in mid-2020, the QuickBooks cash flow planner tool looks at the user's financial history to predict future money in and money out events. Being based on machine learning, the more it is used, the more it learns about the user's cash flow.

According to the NSW Small Business Commissioner, cash flow continues to be the biggest challenge for small businesses, with 57% of surveyed small business owners saying it was their number one pain point.

The QuickBooks cash flow planner doesn't get the money in any faster, but it is supposed to give a good prediction of a business's situation over the next 90 days and beyond.

The five new features are headlined by "an industry first" BAS prediction tool.

"For small businesses with high cash volatility, it can be really challenging to project how much money they have coming in and out and ensure that they've set aside enough for BAS payments," said Intuit QuickBooks director of product management Mindy Eiermann.

"QuickBooks [cash flow planner] uses machine learning to predict the GST amounts owed for the upcoming quarter, which means that, for the first time, our customers have real-time visibility into how much money they need to cover critical expenses and the confidence to make smarter business decisions, and taking away the "BAS surprise" that happens when BAS is due."

Intuit Quickbooks customer Samantha Davies at Platypus Co-working said "Having the QuickBooks Cash Flow Planner predicting our cash flow means I now have a real-time view of money in and out, so I'm not lying awake at night worrying about whether I'll have enough to cover my big expenses. Knowing when to expect customer invoice payments is a huge weight off my shoulders and means I can focus more on my customers and core business, plus, the new BAS predictor tool gives me the ability to forecast tax liabilities, so there's no nasty surprises come BAS time."

The other new features are:

• An invoice prediction tool to predict when you will be paid
• A new extended view to provide insight and help businesses better manage their money-in across the next 90 days and beyond, up to 12 months.
• A recurring events tool
• Access to real-time cash-flow data on-the-go with the mobile planner (initially for iPhones and iPads, with an Android version to follow)

Gustavo Brites, who works in operations at Brah Superfood, said "I love the new QuickBooks cash flow features, especially at the moment with COVID. We import some of our products from Brazil, so with the predictions we're able to see the cash flow will be for the month which really comes in handy for when we need to make a big payment."

He added "I can now also see if a customer is notorious for paying invoices late, so I've set up reminders to mitigate that and I know not to count on that incoming cash. It's also really user-friendly, you don't need to be an expert in accounting software to use it or to benefit."


Subscribe to ITWIRE UPDATE Newsletter here

GRAND OPENING OF THE ITWIRE SHOP

The much awaited iTWire Shop is now open to our readers.

Visit the iTWire Shop, a leading destination for stylish accessories, gear & gadgets, lifestyle products and everyday portable office essentials, drones, zoom lenses for smartphones, software and online training.

PLUS Big Brands include: Apple, Lenovo, LG, Samsung, Sennheiser and many more.

Products available for any country.

We hope you enjoy and find value in the much anticipated iTWire Shop.

ENTER THE SHOP NOW!

INTRODUCING ITWIRE TV

iTWire TV offers a unique value to the Tech Sector by providing a range of video interviews, news, views and reviews, and also provides the opportunity for vendors to promote your company and your marketing messages.

We work with you to develop the message and conduct the interview or product review in a safe and collaborative way. Unlike other Tech YouTube channels, we create a story around your message and post that on the homepage of ITWire, linking to your message.

In addition, your interview post message can be displayed in up to 7 different post displays on our the iTWire.com site to drive traffic and readers to your video content and downloads. This can be a significant Lead Generation opportunity for your business.

We also provide 3 videos in one recording/sitting if you require so that you have a series of videos to promote to your customers. Your sales team can add your emails to sales collateral and to the footer of their sales and marketing emails.

See the latest in Tech News, Views, Interviews, Reviews, Product Promos and Events. Plus funny videos from our readers and customers.

SEE WHAT'S ON ITWIRE TV NOW!

BACK TO HOME PAGE
Stephen Withers

Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments