Where has Cash Flow Analysis gone. I don't know of any small business operater that doesn't rely on cash flow analysis 30/60/90 days, It's been in every version of MYOB that I am aware of, why omit it now? Please bring it back, it is a major oversight!!! I know you now have business insights but if you are a small business operator and not an accountant then this doesn't give the basic information we need!!!
Reports: Cash Flow Analysis
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Too true robcraw
I was once employed to assist a merchant company out of a serious financial mess, which involved taking over the financial reigns while trying to keep the Directors constantly in the loop. This is a dangerous job in that if you don't have a complete understanding of the financial situation very quickly, then things can go badly. Not to mention, you become the villian.
The very first thing I did was to export the Cashflow Analysis to Excel and then create a chart (updated daily) that clearly showed the predicted cashflow situation of the company for the next 3 months or so. Obviously, the second thing was to contact the critical suppliers and have a chat.
Within 3 months the hate mail stopped coming in and the Directors were completely board with the mechanics behind it all. At 6 months I was training one of the Directors to manage the cashflow system and finally at 9 months, we were back on course. I then handed back the reigns and made myself redundant. The Company traded successfully for another 10 years and then sold on to new owners.
I absolutely agree with your comment: "it seems we have too many IT/programming boffins dictating what we should have rather than what businesses actually need!" If these reports hinder the overall performance of the system, then it's their job to find a way to find a way to make them work - clearly the IT/programming boffins are failing at their job.
- robcrawExperienced Partner
Again I heartily agree with today's comments about the continued absence of the Cash Flow Analysis report and also the need for us to continually 'vote' on what we need or what should be restored! How many times do we need to say it or how many of us need to jump up and down before someone will listen.
Very frustrating as a Partner to not be able to assist clients with these sorts of reports that all business should be embracing.
Sorry to say it but it seems we have too many IT/programming boffins dictating what we should have rather than what businesses actually need!
Rant over..... for the moment anyway
!
- H-TSTrusted User
It really pushes my buttons that we have to vote and comment to have features brought back that are not new, but rather something that someone who doesn't actually use the software has decided is no longer needed and should be removed. So many of the "ideas" here are simple requests for features that have been removed/broken to be put back/fixed. I check in with the major competitor every few months waiting for them to introduce the two remaining features of MYOB's that I use regularly which they are missing. Having said that, if MYOB decides to break or remove those two features, I'll be jumping ship at the earliest opportunity.
It's been 10 years since this issue was first raised and apparently they are "still considering adding this feature in future releases of the software, and are still encouraging clients to vote and comment if required for this particular idea".
Albeit somewhat encouraging, my optimism towards it actually happening has waned a tad.
- RVNUser
Please can Myob bring back this Cash Flow Analysis report - critcal for every business
Why was it removed from Accountright Premier 19?
Thankyou
So is anything happening with this report..? Are you going to put it back on or not..?
Hold on.. I'll answer the question myself.
At this stage - 9 years after this issue was first raised - we are still considering adding this feature in future releases of the software, as such we are still encouraging clients to vote and comment if required for this particular idea.
I cannot believe they have taken away Cashflow Analysis. What basid financial report do all business need to make....Cashflow Forecast.
Makes you want to consider other solutions like Xero. I have been using MYOB for over 25 years, and this makes me now open my eyes to other solutions.
- Peter-LowaContributing User
I would like to have a report that forecasts all cash movements (not a budget) based on orders and bills that have been entered into MYOB. It should include all of the following transactions:
- Sales Orders
- Open Sales Invoices
- Purchase Orders
- Open Purchase Bills
Ideally it would show the expected cash inflows and outflows on a week to week basis (e.g. week ending 01/12 would include all of the payments or receipts due in that week)
Expected payment due date can be based on either promised date or payment terms
- markplayerContributing Cover User
Would it be possible to add a new MYOB report to AccountRight Live Plus that creates a projection of future cash flow requirements. QuickBooks has a great feature called Cash Flow Planner. Something similar would be great.
It should both look ahead at already entered sales and purchases, but also look back at previous history of things such as recurring transactions, regular or periodic income and expenses, taxes, payroll, credit card bills, and then predict cash flow requirements.
- PMcFUser
I agree, I work with a number of clients who generally have a bookkeper/admin doing a plethora of tasks and inputting into multiple models is not realistic. As we are adding all of this information into MYOB anyway, a simpel cash flow forecast would be a very handy and highly valued addition.
- H-TSTrusted User
Yeah. Great idea. Or maybe, even better idea, MYOB could just bring back the report they used to have, that did exactly this. You could vote for that over here too: https://community.myob.com/t5/AccountRight-Idea-Exchange/Report-Cash-Flow-Analysis/idc-p/647057#M21093 :)