Debbie Hancock

Debbie Hancock

Owner of Southbourne Accountancy & Business Services

Free cash flow forecast template

It’s critical that you review your current spend levels and establish business critical spend, and if relevant, your cash flow projections. 

The anticipated business interruption is expected to be huge across most sectors; most businesses will need to review additional funding options. 

I have a created a free to use cash flow forecast template. It is vital that you understand where you are with cash, both within your business and personally. This will give you the information to help you make sensible decisions. Please find it here:  https://bit.ly/39dNm8n

There is a brief video above to run through the spreadsheet. 

How can you improve your cash position:

  •  speak to the council about taking a two month break on your council tax – moving the 10 months to cover Feb and March 2021
  • speak to your bank about increasing your overdraft, this may be cheaper than a loan and is also there as a back up that you might not need.
  • look into 0% credit cards and pay them off or transfer before the interest rate begins. 
  • speak to  your bank about a mortgage holiday/speak to your landlord
  • reduce any direct debits that are not vital. Keep any that have a great ROI for your business. 
  • look at my support page for other options or support from the government, it is here > https://southbourneaccountancy.co.uk/coronavirussupport/
  • if you use cloud based software, speak to your accountant about using a cash flow forecasting software such as Float, Fluidly, Spotlight, these will help you to plan for any scenario. The software will also pick up current data in your cloud accounting software.  


Funding requirements 

  • Revolving cash facility: Considering taking a revolving cash facility as an emergency back-up i.e. draw down £1k of a £100k facility. This way it doesn’t expire, and you can draw down if needed. It would be good to have this in place until you understand your other options. 
  • HMRC: There are a few schemes in place to help. See the support page for further details. (https://southbourneaccountancy.co.uk/coronavirussupport/) Being proactive and speaking to HMRC will be key. 
  • Coronavirus Business interruption loans: Banks will still go through their stringent lending requirements. We expect that if you have existing facilities with lenders, then extending these facilities will be the easiest route of finance through the mainstream lenders. 
 If you would additional advice, help with the template or someone to act as a sounding board then please do contact me.
 Either call me on 07307 186302, use the button below to complete a contact sheet or email me on debbie@southbourneaccountancy.co.uk
I am also providing updates on the Social media channels which are in the footer.
Friendly disclaimer: The information contained in this article is for guidance and information purposes only. It should not be relied upon as full and complete accounting, tax or legal advice. For specific advice relevant to your own situation please speak to Southbourne Accountancy or another professional direct. 

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