Hello,
What’s the best way to show what cash is currently available - i.e not allocated or earmarked already?
We work a lot on a project basis, so project budgets tend to land in big chunks up front, and we budget in advance knowing how it will be spent.
Until the project ends, cash remains in the balance unaccounted for - is there a way to ring fence or pre-allocate?
I use projects to help keep a handle on this in practical terms, but is there a reporting tool that will give me an over view of cash allocated vs available cash (this usually means our fee or other smaller income streams such as consultancy)
It would be great to quickly see that ‘x’ amount of current balance is accounted for, ‘x’ amount is available
Thanks!
Hi @carlofantastico
There isn’t a way of doing this as such within QuickFile, but there are workarounds. Depending on your situation, they may work for you.
As you mentioned, projects is one way of doing this, which is touched on here: Projects - opening balances (ringfenced funds)
Another way would be to use a dummy bank account in QuickFile, which although it’s a little older, the concept is still the same from this thread: Ringfenced funds
The latter method could potentially make reconciling your bank account a bit trickier, but it would give you a clear breakdown of what’s available and what’s been used.
Aside from this, this is an open forum, so other users may also have ideas which can help. We’ll leave the thread open for others to jump in, too.
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