Accounting | How to manage your cashflow.

Discover how to manage your cashflow with Odoo.

How to manage your cashflow with Odoo.

1) Basics
  • Invoice Management: Odoo includes robust invoice management features that streamline the invoicing process. You can create and send professional invoices to customers, track invoice statuses, and manage payments received. This feature facilitates timely invoicing, improves cash flow by ensuring prompt customer payments, and reduces manual effort in managing invoices. 
  • You can also use accounting reports such as the Partner Ledger and Aged Payable/Receivable in order to manage your upcoming cash out/in.

  • Payment Follow-ups: Odoo enables you to manage payment follow-ups efficiently. You can track outstanding customer invoices, send automated payment reminders, and monitor payment statuses. This feature helps in improving cash flow by reducing overdue payments and accelerating the collection process.

2) Cash Flow Statements
  • Cash Flow Statements: Odoo supports the generation of cash flow statements, which provide a detailed overview of cash inflows and outflows during a specific period. The system categorizes cash flows into operating, investing, and financing activities, helping you analyze and understand the sources and uses of cash. This feature provides a comprehensive view of cash flow and aids in monitoring and managing cash effectively. This tool is relevant but does not allow you to manage the future in the same way as scenario management.

3) Cash Flow Forecast

Idealis Consulting can install and configure a cash management solution that complements Odoo: Agicap. Here are the solutions provided by this tool, which draws its data from your banks and your Odoo.

  • Cash Flow Tracking: Agicap provides a comprehensive view of your cash inflows and outflows, allowing you to monitor and track your cash flow in real-time. It integrates with your accounting system or bank accounts to automatically gather data and provide accurate cash flow information.
  • Forecasting Capabilities: Agicap allows you to create cash flow forecasts based on historical data, anticipated future transactions, and other relevant factors. Agicap provides flexible forecasting options, such as short-term and long-term forecasts, and allow you to adjust assumptions and variables to simulate different scenarios.
  • Scenario Analysis: Agicap enables you to perform scenario analysis by changing variables like sales volumes, payment terms, or expense levels to evaluate the impact on your cash flow. This feature helps you understand the potential outcomes of different business decisions and make more informed financial decisions.
  • Cash Position Monitoring: Agicap provides dashboards or summary views that display your current cash position, including available cash balances, upcoming cash inflows, and outflows. This gives you a quick snapshot of your liquidity status and helps you identify potential cash shortfalls or surpluses.
  • Notifications and Alerts: Agicap have the ability to send notifications or alerts when certain cash flow thresholds or predefined conditions are met. For example, it can notify you when your cash balance falls below a specific level or when a customer's payment is overdue. These alerts help you take timely actions to manage cash flow effectively.
  • What-If Analysis: Agicap offers a what-if analysis feature that allows you to simulate the impact of various financial decisions on your cash flow. This helps you evaluate the potential consequences of strategic initiatives, investment decisions, or changes in operational practices.
  • Historical Data Import: Agicap supports importing historical financial data to establish baseline information for forecasting and analysis. This can include importing data from spreadsheets or other financial systems, ensuring that you have a complete and accurate historical record for cash flow analysis 

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