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Accountancy firm offers free cashflow support to help to SMEs deal with Coronavirus impact

Posted: 20/05/20 by Northants Accounting

Accountancy firm offers free cashflow support to help to SMEs deal with Coronavirus impact

An accountancy firm in Northampton is helping to support businesses during the Coronavirus pandemic by giving away free licences to cashflow forecasting software Float.

Northants Accounting has been inundated with enquiries from businesses over the last few weeks as they seek guidance and advice on the financial help available from the
Government during this period.

Managing director, Nishi Patel, wanted to do more than simply relay and clarify information and make recommendations. He said: “Whilst the Government has announced a
package of support for small businesses, none of this is available straight away so, for companies, managing the cashflow they have in their business right now is key and could even be the difference between surviving this crisis and going under. I wanted to help my clients to better understand where their money was coming from and allow them to budget and forecast for the difficult weeks and months ahead.

“Knowing the money you have going in and out of your business and when big bills are due can not only help you plan for the short, medium and long term but can help you make informed decisions, such as furloughing staff or putting a freeze on recruitment.”

Float is a web-based cashflow planning solution that integrates with accounting software including Xero, FreeAgent and Quickbooks to produce visual cashflow forecasts. It can also run various scenarios, which enables businesses to see potential financial impacts before they make decisions such as taking on a new member of staff or launching a new product. It also allows users to create budgets such as marketing or sales budgets and then tracks how this is being achieved or spent each month.

Float usually costs around £50 a month to use but Northants Accounting is offering the software to 50 businesses for free for a whole year. After that, they can enjoy a discounted monthly payment of £20 a month.

“I have used Float myself for a while now,” adds Nishi. “It is such a useful tool and I could see how it could really help a business at this moment in time. We are all looking for ways to help in the current climate and this is my contribution.”

For more information, go to www.northantsaccounting.co.uk or call 01604 330129.

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