Cashflow reporting

Stephanie_8744339 · November 2020

My client wants detailed cashflow reporting that shows where the money was spent each month. What reports would you run to get this information? The statement of cash flows report is not all detailed.

At the moment we're doing a very manual spreadsheet and I'm desperate to find a better solution.

I should also mention that there are 2 entities. I'm running consolidated reports for the P&L and Balance Sheet, which works great, but the cashflow report is where I'm stuck.

Bruce · November 2020

Hosted produces a basic statement of cash flows as a standard report. However is this what your client is looking for? (My experience is that most clients don't use this for management reporting purposes).

An alternative might be:

reports, "transaction detail by account" and select "last month"
modify report using filters to select account "bank" and amount "<=0"
memorise for use in future months

Acctd4 · November 2020

@Stephanie It sounds like you just need the Profit & Loss Standard report ? This is under the Reports dropdown menu > Company & Financial

This will show the breakdown of all income, COGS (if applicable) & expenses & can be further modified to view:

specific or Header Accounts
a specified period/date range &
on either a Cash (monies received v monies paid) or Accrual (bill & invoice dates, regardless of payment)

Once modified/customised to your requirements, you can then "Memorise" the report & it will retain the formatting/filters you have set.

PhuongDo · November 2020

Hi Stephanie,

I'm no accountant here but I can definitely help you to find an automate solution for your client. I can export data out of your Reckon files the way you want. It can be standard reports from Reckon or fully customized ones.

It comes handy when:

You have more than one company files and want to combine data
You don't want to go in Reckon, go to a report, choose the filter, export, wait and do it again and again
The reports will be exported out automatically for you and delivered to you via email, file transfer or any other ways you like
The report can be in any format ( Excel, PDF, graph, etc..)
You need a dashboard that quickly show a snapshot of the business performance in daily basis

I have done many custom solutions and save tons of time for users.

Thanks,

Phuong

Stephanie_8744339 · November 2020

@PhuongDo thanks for your suggestion but I think we're going to be looking at alternative solutions for next financial year so it's not worth the expense of customising something right now.

@Acctd4 thanks but no that's not what I'm after. I'm already running consolidated P&L and Balance Sheet reports. P&L will only show P&L accounts whereas I need all cash flows including balance sheet account movements.

@Bruce the statement of cashflows is not detailed enough. The transaction detail by account report doesn't give me what I need either.

I'm also a NZ Accredited Consultant - perhaps I should have mentioned that. I know my way around Reckon very well but I haven't ever needed to pull a cash flow report with this level of detail before. I am curious what others would do in this situation. Here's a screenshot of the spreadsheet that I'm trying to replicate with a simple report.

Acctd4 · November 2020

@Stephanie Ah, I see. Unfortunately, it's not possible to replicate that in it's entirety from a single report in RA/RAH.

The Budget reports can be useful as you can create them from previous year data which you can then report on to see those actual figures but unfortunately - with both Budgets & Forecasts - these can only be generated by P&L or by Balance Sheet accounts, not combined.

The Statement of Cashflows shows the cash position within a specified period but not in that much detail.

I export a detailed P&L by month to Excel & add in the other rows I need (eg Bank Acct Balance etc) manually.

Stephanie_8744339 · November 2020

@Acctd4 Thanks for replying. I will have another look at this using the cash P&L. I suppose I could run a balance sheet comparison report to show the change from month to month. Is that how you get those balance sheet figures? 😀

Acctd4 · December 2020

@Stephanie Yes, after I export the P&L, I use the Balance Sheet report to manually add in those necessary accounts & their balances 😊

Cashflow reporting

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Shaz Hughes Dip(Fin) ACQ NSW, MICB

* Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

Accounted 4 Bookkeeping Services

Ballajura, WA

(NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)

Shaz Hughes Dip(Fin) ACQ NSW, MICB

* Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

Accounted 4 Bookkeeping Services

Ballajura, WA

(NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)

Shaz Hughes Dip(Fin) ACQ NSW, MICB

* Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

Accounted 4 Bookkeeping Services

Ballajura, WA

(NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)

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