What is Cash on Hand?
How is it calculated?Cash on Hand is a sum of your open bank accounts and cash balances. Cash Flow Frog regularly syncs this data from your accounting software to keep your forecast up to date.
Does it affect my forecast?Cash on Hand reflects your cash situation right now, therefore it is also the starting point, from which your cash flow forecast starts.
Can I edit my Cash on Hand?
Yes, when you first create a new forecast scenario you are asked which of the bank accounts, that are connected to your accounting software, should be included in your Cash on Hand.
You can always change this setting like so:
- click on Cash on Hand.
- Enter the 'Edit scenario' screen.
- Select to include or exclude each bank account.
All of the Cash on Hand settings can be edited on this page.
Please note that at least one bank account must be included, so you can't exclude all your bank accounts.
How to make sure my Cash on Hand is correct?
The only thing you should do is keep your bank accounts reconciled with your accounting software. Cash flow Frog regularly and automatically pulls data and keeps it up to date with from your accounting software. So as long as your bank accounts are reconciled, your Cash on Hand should be perfectly fine.
How do my credit card balances affect my Cash on Hand?
By default your credit cards' balances are not included in your Cash on Hand. This is the recommended setting.
Credit card balances are deducted from your bank account when you pay the statements. Only then, they indirectly affect your Cash on Hand.
You can select to include credit cards' balances in Cash on Hand and then every credit card charge will be deducted from your Cash On Hand immediately when it occurs, even if you haven't paid the statement yet.
We recommend using the first (and default) option as it is easier to understand.