Bills arrive into your business every day. But most businesses do not settle their debts on a daily basis. The chances are you have a designated day when you deal with bills.
When Float pulls in a bill from your accounting platform, it looks at the due date and predicts that you will pay that bill on that due date.
But because the reality is you will pay your bills in a batch, to make Float more accurate, you should manually update the expected date of your bills.
This Task Should Takes Less Than 4 Minutes
- Login to Float
- Go to Cash Manager
- Select ‘Bills’
- Select ‘Due’
- Select all using the top check box
- Select ‘Change Expected Date’
- Change the payment date to the day you will next deal with your bills
Keeping a close eye on the difference between when bills and invoices are due, compared to when they are expected, will help you avoid unexpected gaps in your short term cash flow.
Up Next – Step 6: Input Your Sales Forecast >>
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