Teamleader Blog Article

Coming soon: the financial forecast

Benny Waelput Benny Waelput on 27-Nov-2020 15:40:58 in Product Updates

Coming soon: the financial forecast

Can you -without using complicated Excels and clumsy exports- quickly predict how much cold hard cash will be coming in the coming months? You will soon, thanks to your financial forecast in Teamleader.

A lot of companies spend a lot of time accurately predicting incoming cash in the coming months. Information is often scattered throughout bank statements, invoices, credit notes and Excel sheets. The latter are quickly outdated or contain errors due to manual transmission of data. The result: uncertainty about your figures and no clear picture of your company's expected income.

In order to give your company that financial peace of mind, Teamleader is currently developing a financial forecast. With it, you get an accurate forecast of the incoming cash, just like you do for your sales turnover. This way, you can confidently predict the cash inflow in the coming months. That forecast will be available soon to Teamleader users in the BOOST package. 

How does it work?

The forecast takes into account everything in Teamleader that contributes to your turnover:

  • All your invoices (also pro forma),
  • Existing and expected invoices from subscriptions,
  • Credit notes
Based on the due date of your invoices, you will clearly see how much money you will see flowing in over the next three months.

If you want to make the forecast even more accurate, you can simply drag and drop an invoice to another month. The total is adjusted automatically. If an invoice is not paid on time, or if the payment date is missing, the invoice will appear in the left column.


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Extensively tested

A few weeks ago we released a first version of the forecast on a number of beta testers. This initial feedback provided us with an enormous amount of valuable information. We already suspected that for many customers, subscriptions are an indispensable aspect in the prediction of their cash. A suspicion that we saw clearly confirmed thanks to the beta testers. 

Many customers also mentioned that they want to adapt the overview to their specific situation. For example, one customer prefers to look at the forecast with amounts including VAT in order to make a comparison with what will be in their bank account. On the other hand, we also see customers for whom amounts excluding VAT provide them with the most information. 

An interesting discussion was whether paid invoices can still be part of a forecast. At the end of the day, since paid is paid, it’s no longer forecasting, right? Or is it?

You see, our beta testers posed some challenging questions for us. We believe that we have found a definite answer to these.

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Thanks to some customisable filters, you can decide for yourself whether your amounts are inclusive or exclusive of VAT and decide which elements you would like to include in the forecast. This flexibility gives every user the opportunity to adjust the forecast to their personal preference.

No more cluttered Excels or manual exports that quickly become obsolete: soon you will have your own crystal ball within Teamleader!

The financial forecast will be available soon in the BOOST package.