Float calculates your starting balance (‘Total reconciled/matched cash’) by adding together the balances of all the bank accounts and credit cards you have included in your account.
To see which accounts are included in your cash flow click the cog option shown on the bank accounts panel.
Here you will find a list of all included bank accounts and credit cards along with the balance being used for each.
It is important to note that these balances reflect the reconciled/matched state of the accounts and are not the same as your ‘Bank/Statement Balance’. So your starting balance will only be as accurate as the data you have reconciled/matched in your accounting package.
We highly recommend you match/reconcile your transactions every day (or at least weekly) in order to maintain an accurate starting balance for your cash flow forecast.
Is Your Starting Balance Correct?
The starting balances of each of your accounts in Float should exactly match the balances of your bank accounts and credit cards in your accounting package (for Xero each account should match your ‘Balance in Xero’ and for QuickBooks they should match your ’In QuickBooks’ balance).
If these balances are different in Float, please contact support.