Struggling to get an overview of money coming in from outgoing invoices? Teamleader's Financial Forecast provides you with real-time insights that fit your needs. Learn here how to benefit from financial clarity.


Not on a BOOST plan but would love to try out this feature? You can always try out this package. Read everything about it here.

Why

  • With the Financial Forecast, you don’t need to spend hours each month to compile information from Teamleader and/or accounting software to arrive at only basic insights about your financial health. 

  • The Financial Forecast enables you to take important financial decisions faster and with more confidence. 

  • You might know your financial expenses by heart, so looking at your exact income, will allow you to have a complete picture of the financial position in the coming months.

What

You can find the Financial Forecast by navigating to Invoices > Forecast.


  • The current month and the upcoming 2 months will be visible 

  • You can see per month how much money will be coming in

    • The forecast takes the due dates of booked invoices and sorts them into the correct month

    • E.g. If the date of your invoice is 17/01/2021 and your payment terms are 30 days, then the invoice will have an expected payment date of 17/02/2021.

  • You can adjust the forecast to accurately reflect reality by dragging an invoice to the right month

    • Dragging an invoice to another column sets the expected payment date to the final day of that month

! Important: This doesn’t alter the invoice date or the invoice document itself

    • In the left column, you’ll find ‘Date passed/missing’. Easily drag and drop these invoices to another month. Invoices end up in the ‘Date passed/missing’ column, when one or multiple of these things apply:

      • The expected payment date for these invoices is missing;

      • The due date of these invoices has passed and is in a previous month;

      • These are draft invoices you didn’t yet assign to a certain month. You can recognize these draft invoices by the purple label ‘Draft’

      • We recommend you to keep this left column as empty as possible to be able to keep the best overview!

  • Invoices coming from subscriptions in the future will be included in the forecast to get a view that is as accurate as possible

    • The invoices you’ll see are projected invoices that are going to be created in the future. 

    • They’ll have the purple label ‘Subscription’ and the text ‘Not booked yet’ assigned to them since they’ll be generated in the future.

  • Clicking on an invoice will open a side panel with more information about the invoice

    • You can see here, amongst other things, which VAT rate applies, when the due dates and expected payment dates are set, which customer the invoice belongs to and more useful information.

    • E.g. for a subscription, more info will be shown about when the invoice will be generated



  • To find out how the totals per month are calculated, check the calculation via the ‘View calculation’ button: this gives you an immediate overview of the split between different types of income and how the totals are calculated

    • The value on the left of the / displays the total amount still expected to be paid excluding already paid items.

    • The value on the right of the / displays the total amount expected to be paid including already paid items.



    • The calculation includes subtotals that are explained here:

      • Total paid: the amount of money (including partial payments) you’ve already received this month

      • Total expected: the amount of money still expected to be paid this month, based on your outstanding & draft invoices

        • Not paid: the amount of money that’s not paid yet by your customers

        • Total overdue: the total amount of overdue invoices this month

        • Subscription: the total amount of invoices generated from a subscription

        • Total draft: the total amount of your draft invoices this month

      • Total money in forecast: the sum of total paid and total expected.
        This is the amount of cash expected to come in this month: it’s the sum of the booked and draft invoices that are expected to be paid this month.

      • Credit notes: if you credit an invoice, it will disappear from the forecast view and will not be included in the calculations for that certain month. This takes into account credit notes for invoices paid in previous months.

  • The view can be filtered and customized to show only what is relevant for you, the user currently logged in:



    • Filter on company entity

    • Filter on the status of the invoice, that allows you to, for example, exclude paid invoices from the overview. You can select multiple filters at the same time to mix and match what is currently important to you.

    • When you’ve applied filters, this view will be remembered next time you navigate to the forecast

    • Via the preference panel, it’s possible to either show the amounts in your forecast including VAT or excluding VAT:

      • Find the preference panel in the top right-hand corner of your forecast by clicking on the cogwheel

      • ! The preference panel is a user setting and not an account setting

      • By default, all invoices from all company entities are shown, but you can choose to only display the invoices from a certain company entity

      • Select the statuses you want displayed in the forecast.
        Note: this will also impact the totals in the forecast columns!

Notes  


  • You can’t adjust the expected payment date to a specific date: it can only be set automatically to the last day of the month you dragged it to.

  • The Financial Forecast is solely focused on revenue generated from invoices and does not include more uncertain items like deals, timetrackings and projects that are not converted to an invoice yet.



FAQ


Q: Why is the total expected amount for month X higher than the sum of the invoices in that month?

Say that there’s an invoice of €2000 for February, and the customer already paid €1000 in January, then the €1000 will be added to the total amount of January. The invoice will have the label ‘Partially paid’ assigned to it. The amount that was paid will be subtracted from the amount of the invoice: only the amount still to be paid will be visible on the invoice card.


Q: What happens when an invoice gets fully credited?

Since their outstanding amount will be € 0, these invoices won’t be taken into account in the calculation, nor show up as a card on the overview if they were not paid before or if they were paid in the same month.


Q: What happens when an invoice gets partially credited?

Invoices that are partially credited will keep the status label they have been assigned before. If they were not paid before, the outstanding amount after deducting the credit is being displayed on the invoice card.


Q: What happens when an invoice gets partially paid?

Partially paid invoices will have the status label partially paid. The amount displayed on the invoice card is still the full amount to be paid on the invoice. The calculation accounts for the paid amounts and not paid amount and is split up into the individual positions for it.


Q: What happens when an invoice gets partially credited and partially paid?

If an invoice gets partially paid and partially credited in the same month, then the calculation displays the paid amount and deducts the credited amount from it. The amount that is outstanding is being calculated in the ‘Not paid’ amount. The invoice card displays the total amount that is effectively to be paid (Original invoice amount minus credited) and has the status partially paid.

Q: What happens when an invoice is put on hold?

It is hidden from all columns and totals.