Great cash flow forecasting tool!
Having an online c/f which links to Xero has enabled me to have c/f conversations real-time with clients and run multiple scenarios. It has eliminated the need for excel s/s which in turn has made my time more efficient. It has increased client engagement and provided me with more time for data analysis rather than s/s checking and data entry.
Option of manual link-up to Xero so forecast can reflect Xero updates immediately.
Ability to run multiple scenarios so clients can see the impact of making different business choices on the cashflow.
It would be useful to be able do s/s upload of scenario budgets - can currently only do for the main forecast I think.
First time using Cash Flow Forecasting
I have never used this type of tool and I am finding it very helpful, the link with Quick Book is very good and it can be updated whenever you need to. With float downloading data directly from Quick Book that as also helped me to find mistakes which have been made in my accounts We have now spent a number of hours just updating our records in Quick Book which makes that set of records even better. This updated information is then uploaded back into float. I did have a demo version of two weeks but due to the virus this as been extended. I really feel that two weeks to have demo for this system is two short it needs to be at least 4 weeks, then you will start to see the benefits of using the system. I will not be going back to the old ways
The integration with Quick Books on line is very useful
I find the system to be very helpful in presenting the information you need but as yet I have not been able to understand the reports which it is generating. If you wish to print and send cash flow information to someone else you can but you can not have your company logo shown on the report but by default you can have the Float logo shown! The promo information says you can have this up and running within the day, which maybe you can but I don't think that I would want to reply on its data. It takes time to check the data is correct and even the if the correct information is recorded within Quick Books in the correct place. I have never used anything like this before and I found it hard work, the videos they have do show you how to do things but when you don't know what you need to do or what you need to know it take a little time to fully understand what and how to do it. The videos on you tube are helpful but when you are trying to understand what and how to do something I found the speed and the single tone of the lady talking was just way to fast and boring for a new starter to understand. When you understand a little more its still boring but you can understand better what she is now saying. In this time of covid 19 I feel the cash flow display is way to long its showing 20 months and I only want it to show 6, maybe it does it but I can find how to shorten it. At this time I have given up on the reporting section maybe I will come back to it later.
Game Changing Cash Flow Forecasting Software
This has been a game changer in our practice, we can give daily, cash flow reporting updates to our clients during this Covid 19 Crisis.
I like how Float integrates seamlessly with Xero Accounting Software. It was relatively easy to set up for each client compared to other cash flow software apps on the market.
I dont have any dislikes at the moment with the software
Crucial cash flow forecasting
I love using Float and everyone at Float is super helpful and friendly. I recommend this app everytime someone requests a cash flow as it's by far the easiest system to use and efficiently procude a cash flow forecast under pressure.
Float is so easy to use for us, but also for our client. It helps our clients keep on track of their cash flow forecasting easier than before as it's so easy to understand whilst being very granular.
If it could go beyond and produce projected profit and loss and balance sheet.
Great tool for simple cash flow management, and even better to get rid of manual Excel tracking!
Better cash flow overview, minimizes the need for Excel.
Float easily integrates with Xero, allows you to easily configure which banks get synced for display purposes, and provides excellent insight into the sources of cash and also where cash is being spent.
The invoices due and bills to pay reports are an easy way to access overdue bills and invoices without clicking through the accounting system.
This is ideal for anyone who wants to get an idea of their cash flow history and projections.
The product would be infinitely better if it supported multi-currency accounts, especially with more businesses holding more than 1 currency. Currently, details on cash is based on GL accounts. It might be way more usable if it gave us the option to view this from a customer/vendor name perspective, since we plan our cash flow on that basis, rather than by the GL account.
The concept with this program is so excellent, and I am holding out on new features being released that totally eliminate the need for other products (such as Excel) for tracking and projecting cash flow. If Float can make that leap, it'll easily be the #1 cash flow app.
Great software, very easy to set up & use, excellent support - could add a couple of features
Super-easy to set up and sync to Xero, and to import or directly input budgets. Easy & really helpful basis to review and amend bill/invoice dates for cashflows.
Scenario planning and comparisons very helpful, and the output from those in charts etc great for presentation. Also allows you move & group cash in/out categories
Other than charts, outputs are limited to CSV files so not that easy/quick to manipulate offline, and have to do all your own formulas & formatting, etc.
I understand they’re working on Excel downloads - soon I hope!
A really effective solution to assist businesses manage cashflow
Overall, I think Float is an excellent tool for cashflow forecasting and scenario planning. It is easy to use and understand and the support available from the team at Float is excellent.
Float is easy to use and not overly complex making it easy for clients to understand.
The integrations with accounting software such as Xero ensures it is kept up to date and makes cashflow planning a relatively quick and a regular task - which is key to managing finances.
The ability to forecast easily for different scenarios is a very useful feature that allows a business to easily see the impact of making changes.
It would be useful to have a multi currency feature
Float is incredibly helpful at a time in need
Float was really easy to set up and it took less than a day to get it all up and running. It integrated with Xero seamlessly and from the moment I signed up on the free trial I received access to a heap of helpful set up videos and access to useful webinars.
It is not time consuming to prepare multiple scenario's and I love the confidence I have in the accuracy of the projections due to it being integrated with Xero vs running off a spreadsheet.
Yet to find a function I don't like.
As a small not for profit organisation the price point is at the upper end for us but do appreciate the value of the product.
Cash flow analysis and Xero Integration
Our accountant recommended Float and provided the setup and training.
It took a few weeks to get comfortable enough to start adding groups ourselves for better analysis of costs and revenues. We attended a very good Webinar to help those new to Float and those still learning.
Overall we are very happy with the product and service. Well worth it.
Float seamlessly integrated into Xero so we could classify our chart of account codes into Groups and sub-groups for better analysis of cash in and out.
Focused our attention on realistic cash receipt dates.
Allow us to analyse past expenditures and set future dates for large annual outgoing expenses (no forgetting or surprises!!)
Its a small gripe but the sync scheduler could be more flexible (hourly v daily) for companies with a lot of transactions.
Big time and money saver - Daily cashflow particularly useful
We use Float every day and is the best Cash Flow software we tried when evaluating - it gets slow but regular updates and the support team are relatively responsive. It's not cheap but we feel the ROI is completely worth it.
Works great for short to medium term cashflow management and the integration with both Xero and FreeAgent is good. Easy to use and provides us with very intelligent data.
Takes a bit of management and doesn't always do everything you want - not so useful for long term cashflow projections but has become an invaluable tool for us. Small issues.
Why wouldn't you?
I've loved it since I first got involved, over 3 years ago. I can't imagine life without it!
The ability to be Agile with my financial modelling, to allow me to make tactical decisions, without violating strategic objectives.
If I had to say, it would be price. The tool is probably of most use to SME's and the entry price point should be more like £20 / month
Easy way to track workload
Used a trial version for a month to see which task management software would work best for our small marketing team. While Float was easy (and even kinda fun) to implement, its functionality was too limited to continue use. I think it would be most useful in a situation where you have to focus on managing others and gauging the workload and hours spent on each client or project.
Super easy to use and figure out. Took almost no time at all to start implementing it in the workplace. It also makes it really easy to manage others - you can pass tasks from one person to the other, postpone them easily, and see at a glance whether someone is overbooked.
The capabilities are a little limited. While it can help you track workflow and task progression, it doesn't grant you a lot of flexibility in storing info about clients, setting due dates, etc.
As an SME it has allowed us to get on top of our cashflow and is an invaluable tool.
It is very easy to use and integrates very well with Xero.
It would be good to allow:
- Scenario layers to be used as a base layer for a second scenario that is a variation of the first scenario.
- PDF exports from the cash flow and daily breakdown pages that retain the page format.
Float Cash Flow Software
Overall I have found this software very helpful and also the customer service is really good. I always get a fast response and I love the fact that they are always looking to improve the software. The new function of multiple budgets in one cell was a bonus for our company.
What I like most about this software is how easy it is to use, even if you are not a professional accountant or bookkeeper. I also find the Scenario layers very helpful.
The one function I would love to have in Float is to be able to change the date of budget project to the next month without having to delete the budget in one month and enter to the next when our projects are prolonged to another month.
Does what it says on the tin....
I came across Float at Xerocon 2019. I was actively seeking a cashflow App that was easy to set up, use and maintain. I had tried Apps that were more feature-rich but for my clients simplicity and easy of use was their priority. Float fits the bill. I have now been using it on a daily basis with clients for over 2 months and find it does a great job. The clients love it. I will be implementing Float as part of my essential App Stack - Hubdoc-Xero-Float.
So far I have had a positive experience with Float. If there was one area that I think further work can be done it would be the ability to mix scenarios to evaluate how they would affect future cashflows.
Excellent tools for forecasting
We have for sure a forecast accurate
Easy to use, also gives you the chance to create scenarios and most important can predict the cash movement. You can even add companies
Its not multilanguage and multicurrency, you can add companies but cant be useful if having companies in different countries
Simple software with amazing features
I mainly use Float for its forecasting or “what if” scenarios feature. Float is one of the software that offers this feature. It is a feature that most f of our clients looks forward to. Float can also integrate well with QuickBook and Xero, another accounting software my team and I use. The software together is seamless.
The inability to use more than one type of currency is a difficulty most of the times. But it is all tolerable, given the feature of the software.
Great direct forecasting tool
- Keeps me sane, and saves me quite literally hours every week.
- Easy to set up and use
- Xero integration
- basic scenario planning
- Complex, but not complicated
- Uses direct method
- Could do with a good mobile view - the current one is very frustrating (I don't need an app, but a great mobile view would be high on my list)
Analyzing my business via Float kept us alive
I run a small business that does large projects. Cash flow and budgeting is paramount to success. Before I found float I was running my business like most folks. Looking backwards to go forward. I was paying myself and employees unsustainable money, not timing expenditures correctly that were needed to grow but could wait. I am still in business and making healthier decisions based on the future numbers because of the insights Float gives me.
The ease of integration with Xero is simple and over the past couple years the software has become easier to configure and setup. Jump in and go!
There is always room for improvement, and the support staff listen. Currently there is nothing that "must" be done besides never stopping the innovation.
easy to forecast based on your real data in Xero, scenarios allow testing of different events
able to see cashflow, which helps with investments and dividends
The sync with Xero means I don't need to worry about losing transactions, and can quickly compare forecast with actuals.
The scenarios tool enables me to examine whatif for any ledger/ sales or expense.
The weekly email tells you how much cash you have in the business too.
It's a little fun to setup, but you only have to do that once. Tweeking the budget is easy.
Perhaps an app.
Better than sliced bread .....
Our relatively new business operation is experiencing exponential growth. Float gives us the ability to plan and tweak cashflow projections instantly and accurately with access to current and historical data seamlessly through the Xero integration.
Simplicity, functionality, Xero integration.
The nightmares it gives me over the years I spent trying to maintain cashflow data on cumbersome excel spreadsheets that were already out of date by the time I had updated them :(