{2 minutes to read} One of the most powerful tools we use to help our senior clients is a monthly cash flow report. This monthly report allows clients to see if there’s a surplus or deficit and and if there’s a need to transfer money from savings into checking. The contents of the report include:

• All income sources—where their money is coming from;
• Expense categories—where their money is going; and
• How much money is left at the end of the month.

These reports are generated using QuickBooks. We gather a client’s checking account and credit card information online, bring it into QuickBooks, then categorize each entry. This illustrates where income is coming from, where money is being spent, and if  any adjustments should be made.

For each client, we set up a QuickBooks online account that can be accessed by the client or interested parties, whether it be family members or financial advisers. When there are more eyes looking at what’s being spent, there is less chance of financial fraud.

The great benefit of our service is that it provides our clients with a feeling of control. Prior to working with us, many clients weren’t sure where they were spending their money. With the cash flow report, they’re able to see their spending habits and make the necessary adjustments.  The result is often a sigh of relief and Peace of Mind. Contact me today to get started at (917) 279-3972.

Peter Gordon
New York Financial Organizers, Inc.
peter@nyfo.nyc