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simon69
October 17, 2022
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Can QBO Advanced -Create a budget - Add in future cap-ex & loanAdd existing debtors and creditors toprojected cash flow, P&L, Balance sheetAllow for future VAT ?

  • October 17, 2022
  • 1 reply
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Please can you advise what is best so we can automate the cash flow planning and see real time results , and use one set of budgets on quickbooks that fire into the cash flow.

Objectives for software

For each company

Create a budget for future period
Add in capital expenditure and loan repayments etc
Combine forecast with existing debtors and creditors
Show projected cash flow forecast.
Show projected Profit and loss
Show projected Balance sheet
Allow for VAT repayments quarterly and collection of gross sales, and deferred taxation payments
Report on budget v actual

Then combine cash flows forecasts from 4 companies to one consolidated cash flow to show group cash flow.

This would save a lot of time each month and give me better information 

Please let me know what software solution you would recommend ?
Best answer by MJoy_D

I can share some information about some features in QuickBooks Online Advanced, @simon69.

 

You can create a budget for a future period in QuickBooks Online (QBO) Advanced. Once done, you can review and adjust everything. Then, run financial reports, like the Budgets vs Actuals report, to compare your actual sales and expenses with your budget. Refer to this article for more information: Create budgets in QuickBooks Online. 

 

Yes, you can add capital expenditure and loan repayments in QBO by creating and setting up a liability account, journal entries, and recording each repayment. Here's how you can set up a loan in QuickBooks Online.

 

For more information on how we generate a cash flow forecast and the data included in the planner, check out this article: Learn more about the Cash Flow menu. Then, see this article for detailed guidance on how to run different reports and projections: Track your cash flow in QuickBooks Online.

 

About VAT repayment, you can turn on the FRS (Flat Rate Scheme) you regularly receive a VAT repayment under standard VAT accounting. Refer to these articles on how to record, adjust and delete VAT payments in the tax centre: 

 

 

Then, refer to this article: Get started with QuickBooks Online to guide you in creating your account, setting up your company file and achieving tasks in QBO. 

 

You can always leave a reply below if you have further questions about the features in QBO Advanced. I'm always glad to help in any way I can. Have a wonderful day!

1 reply

MJoy_D
MJoy_DAnswer
October 17, 2022

I can share some information about some features in QuickBooks Online Advanced, @simon69.

 

You can create a budget for a future period in QuickBooks Online (QBO) Advanced. Once done, you can review and adjust everything. Then, run financial reports, like the Budgets vs Actuals report, to compare your actual sales and expenses with your budget. Refer to this article for more information: Create budgets in QuickBooks Online. 

 

Yes, you can add capital expenditure and loan repayments in QBO by creating and setting up a liability account, journal entries, and recording each repayment. Here's how you can set up a loan in QuickBooks Online.

 

For more information on how we generate a cash flow forecast and the data included in the planner, check out this article: Learn more about the Cash Flow menu. Then, see this article for detailed guidance on how to run different reports and projections: Track your cash flow in QuickBooks Online.

 

About VAT repayment, you can turn on the FRS (Flat Rate Scheme) you regularly receive a VAT repayment under standard VAT accounting. Refer to these articles on how to record, adjust and delete VAT payments in the tax centre: 

 

 

Then, refer to this article: Get started with QuickBooks Online to guide you in creating your account, setting up your company file and achieving tasks in QBO. 

 

You can always leave a reply below if you have further questions about the features in QBO Advanced. I'm always glad to help in any way I can. Have a wonderful day!

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