Ceterus adds forecasting to franchise accounting software
Ceterus has added a forecasting feature to its small business accounting software for franchise owners.
The new feature in Ceterus Edge Entrepreneur helps franchises estimate their future cash outflows, inflows and balances. The forecasting tool displays a projected balance for seven or 30 days in the future, based upon the net of projected cash inflow and outflow. Franchise owners can access the feature through a Cash Forecasting tab in the Ceterus Edge Entrepreneur software to help plan for cash flow shortages, working capital, and owner draws or payouts to investors.
“Small business accounting should be something that is used to analyze the future, not just the past,” says Ceterus CEO Levi Morehouse in a statement. “Entrepreneurs need to be able to use what’s happened in the past financially to help them run more efficient and profitable businesses.”
The product from the Charleston, S.C.-based business lets franchise owners view profit and loss statement across their businesses, along with benchmarks for balance sheet and financial and non-financial information, to see how their business is doing compared to its peers in similar businesses.
Ceterus recently acquired Sandwich Math, an accounting and bookkeeping firm that focuses on sandwich restaurant franchises (see Ceterus acquires Sandwich Math).
“We started as a pure outsourcer of accounting and bookkeeping for the small business,” Morehouse told Accounting Today in December. “We do your bookkeeping in the cloud for you. We started that in 2008, but two years ago, we went and raised venture capital to start building a platform to actually automate much of the bookkeeping component of what we do.”
Ceterus has raised $10.2 million in funding, led by Grotech Ventures in the D.C. area, and Tech Operators in Atlanta.