The purpose of our Cashflow Snapshot is to allow business owners and their management team to be able to review their business finances in two minutes, every day. The service comes with base line options, such as key Accounts Receivable and Accounts Payable information.
Using our automation technology, we can pick out additional key information, such as bank balances, sales, liabilities, recent bank transactions and more.
Our suite of utilised software connect to Xero, or Quickbooks, and automatically draw out information to present in a daily email.
The service is a simple solution to a common problem: what state are my business finances in?
No longer will you have to run five different reports on a daily basis; have it all emailed to you so that you can digest in two minutes before you start your day.
By default, on a daily basis, you will receive:
- An email, summarising your cash position, money due in and out in the next seven days (based on due dates from within Xero) and your sales in-month.
- An Excel workbook as an attachment, providing a dashboard and full supporting information for your receivables and payables; in particular highlighting overdue balances.
Preview of what's to come...
Good morning Ben,
Here is your snapshot for 31 October 2024.
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Current cash at bank and on hand: £100,000
Total receivables due in within seven days: £50,000
Total payables due out within seven days: (£75,000)
Predicted seven day outlook position: £75,000
________________________________________________
Total receivables outstanding: £125,000, of which £10,000 is overdue.
Total payables outstanding: (£85,000), of which (£5,000) is overdue.
________________________________________________
Revenue raised so far month to date: £90,000 vs £84,000 in the prior year. This shows an increase of 7.1%.
This brings your total year to date revenue to £580,000.
________________________________________________
For full details, additional KPIs and supporting information, see the attached snapshot report.
Kind regards,
Jenkins & Co.
Note: this email is customisable to best meet your needs.
What is included in the Cashflow Snapshot?
Our default template
Our out-of-the-box template aims to provide you with key information on a daily basis.
This information allows you to gauge your cashflow over the coming seven days, and informs you which invoices need chasing by your credit control team, while providing the supporting information you need should you wish to investigate it further.
Cash levels
- Current bank balance (not just the Xero balance) for one bank account included
- Cash at the end of the prior month, with details of cash in and out
- Add-on: additional bank accounts to be added for a small charge
- Add-on: multi-currency accounts for a small charge
Receivables
- Detailed Receivables listing, showing all invoices owed to you
- A full ageing summary, showing how old each invoice is, grouped by dates
- A list of overdue invoices, so you can see who needs chasing for payment
Payables
- Detailed Payables listing, showing all invoices owed to suppliers
- A full ageing summary, showing how old each invoice is, grouped by dates
- A list of overdue invoices, so you can see which suppliers are due for payment
Revenue
- Revenue in-month compared to the prior month
- Number of invoices issued
- Average value of each income
- Add-on: break down by tracking code
Taxes (add-on)
- VAT, Corporation Tax and payroll tax liability as at the date of sending *
* we can only pull out the relevant balances from your accounting system in relation to this, therefore the balances you receive will only be as up to date as your accounting system is; unreconciled transactions may cause this figure to be outdated.
If you add your due payments for VAT etc to your purchase ledger as part of your process, they will be picked up by our Payables module.
Other planned paid add-ons
- Cost of sales
- Labour costs
- KPIs such as Labour %
- Debtor and creditor days
- Invoices raised
- Recent bank transactions
Register your interest
We’re aiming to launch at the beginning of January 2025.
Want to stay updated on the features that we’re building, or want a say in what gets included?
Register your interest today. Those who do will receive 50% off for the first three months upon launch.
Pre-emptive frequently asked Cashflow Snapshot questions
We’ve compiled a list of our pre-emptive frequently asked snapshot questions. Still have questions? No problem! Just send us a message and we’ll be happy to help you find the information you need.
Our Cashflow Snapshot currently works with Xero and Quickbooks at the moment.
We need to be set up on your cloud accounting system with admin rights in order to provide this service.
Not necessarily; the email can be delivered weekly if that is your preference. Due to platform costs, the price would not reduce.
The only way that we would be able to include non-financial information is if we were granted access to additional data sources. Development rates of £840/day would apply if this was the case.
Our partners state that Financial or PII data is stored using OpenSSL AES-256 encryption. We only access new data when an email needs to be sent, at which time the previous email’s data is deleted from our servers.
The two storage areas of concern are AWS and Sharepoint.
Data is stored for a 24 hour period prior to deletion when the next email is sent. Upon service cancellation, we will remove the data from our servers.
As our reporting relies on your accounting system’s accuracy, we can only produce information reliant upon what you currently have. With that in mind, for specific areas, these are the pre-requisites:
Accounts Receivable
Invoices must have been processed and be visible on the Receivables ledger; not waiting as draft.
Accounts Payable
Bills must have been processed and be visible on the Payables ledger; not waiting as draft.
Bank
Your bank accounts must be connected via bank feed connection; at the current time, outstanding transactions may not be picked up so it will rely on up to date reconciliation.
General
We can only report on how much up to date your accounting package is. If there are numerous unreconciled items on the bank, reports may not be 100% accurate.
At the current time, we do not plan to charge a set up fee if using our default template.
Custom development, such as reporting items that require complex calculations or non-financial KPIs will be charged a development day rate of £840/day, and will be quoted on a case-by-case basis.