WiseCash leverages the financial data you provide to forecast your business bank account balance and compute your runway. If you don’t have a WiseCash account already, you can start a free 14-day trial.
Here is a quick screencast showing you the basics:
Now how to build your own forecast in practice? Read on:
Make an Inventory of your transactions
Before feeding any data into WiseCash, take a moment to make an inventory of the expenses and income that your business runs on. Useful data about this is can be found in:
- Upcoming payments from your revenue sources (consulting, products etc.).
- Upcoming planned taxes schedule.
- Your last bank receipts (especially useful to detect repeat transactions).
- Our list of commonly found repeat transactions in a business.
You do not have to chase every little transaction to get an accurate forecast: instead, make sure to think about all medium-to-large upcoming transactions.
Enter your planned expenses and income
Using repeat transactions as often as possible (in order to reduce future updating work), enter your planned expenses and income using the entry form.
When in doubt, adopt a conservative stance: over-estimate expenses and under-estimate income.
Use the auto-mark-as-paid feature to reduce future updating work on your forecast.
Forecast your cash-flow
Once the forecast data is ready, you can: