Scenario planning and cash flow forecasting: How to plan for uncertainty

What is the importance of cash flow forecasting and how can can you plan for uncertainty?


On Tuesday 8th September, we hosted a webinar covering the most important aspects of cash flow forecasting, including how to plan for uncertainty, making realistic assumptions and why planning is likely to be imperative to your business’ future success.

Our panellists included UHY Hacker Young Cloud Accounting Specialist Emily Deakin, UHY Managing Director Dave Hailey, and Sam Fairbairn, Key Account Manager at Float Cash Flow Forecasting, an award winning cash flow forecasting and scenario planning tool which integrates with Xero, QuickBooks and FreeAgent.

In the webinar our panellists discussed real-life examples, provided tips on how to produce a realistic cashflow and how to use scenario planning to increase confidence when making those business critical decisions.

“The reality is that no business fails because of a lack of profits – it is because they run out of cash. Don’t get me wrong, that’s not me saying profitability isn’t important as, in the majority of cases, it is fundamental to creating cash, but planning for your cash reserves really is a priority.” Dave Hailey, Managing Director at UHY.

The Furlough scheme ends at the end of October, staff will be returning to work and tax liabilities that have been deferred will need to be paid. Planning these cash outflows and reviewing different scenarios will help the survival of your business.” Emily Deakin, Cloud Accounting Specialist at UHY

CBILS (Coronavirus interruption loan) and BBLS (Bounce back loan) are coming to an end so if you haven’t already applied for the government backed loan schemes there’s still time. Planning your cash flow will help identify whether additional finance will be needed.”

Sam Fairbairn of Float says what you need to look at can be separated into 3 main parts: “The first is understanding your cash balance as it is today. The second is understand what your future cash balance will be at any particular point and then the third point is analysing those future cash balances, how could you improve them, how could you work towards them, how could you extend them”.

The webinar provided many practical tips to help you plan for uncertainty, as well as a short demo on how Float can help with your cash flow forecasting.

We’ve been running a series of blogs on cash flow forecasting and scenario planning leading up to the launch of our partner programme with Float. Since partnering with Float, we have put together the FAQ’s and Float demo below. Should you have any further queries, please contact Emily Deakin.

Download Float-cash-flow-forecasting-and-scenario-planning-FAQs

Watch Short Video on How to Use Float

Should you have any more questions regarding getting access to Float or how we at UHY can help you prepare a cash flow forecast and scenario, please do get in touch.

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