Yesterday, Steven had tweeted requesting cash forecasting in FreeAgent.
Would love to see @freeagent incorporate some sort of cash flow forecast tool into the app
— Steven Grant (@stevieg_83) September 19, 2013
He got a useful suggestion of Float from Cole Henley which is a SaaS app from some developers in Edinburgh.
We had a quick look at it and while it looks good, it's another SaaS app with another monthly subscription. It's not that we're completely against SaaS, but there does come a tipping point where too many subscriptions are just that - too many.
Any smart business owner should be looking to cut overheads where possible and paying for something that's a 'nice to have' rather than an everyday essential like FreeAgent didn't make sense for us.
In years gone by, we had an Excel spreadsheet that worked in a similar way but we wanted to avoid going that route.
Then we stumbled upon Pulse again that Steven had used many moons ago when he was freelancing.
Now Pulse is also a SaaS app but it does have a free plan which suits our needs.
We can punch in our monthly repeating expenses, monthly retainers, possible client work and very quickly builds a projection of cash on hand for the given month. If a project falls through, you can quickly disable it and is removed from the projection.
We'd love to see something like this in FreeAgent where we spend a lot of time, if only to see 'projected' vs 'actual' comparison.
The paid plans given more users (Steven and I share 1 login), more views (list or weekly rather than monthly overview) and the ability to run reports etc.
If you're looking for a cash projection tool then it's certainly worth taking a look at.