Xero is world-leading online accounting software built for small business.
Castaway with Xero integration allows you to import your chart of accounts into Castaway in a quick and easy drag and drop mapping process.
Using drag & drop, you can map:
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As a fast-growing business, it’s essential I keep a close eye on cashflow. Being seasonal in nature that’s not easy without software with some “smarts” built-in. With Castaway, I have a living, breathing model of my business that I can easily adjust as business conditions change. I don’t need to manually enter reams of data as Castaway can reference historical results and adjust up or down based on formulas we’ve implemented. With Castaway, I can see the future and the ability to easily forecast cash at the bank on a monthly basis for 12 or 18 months ahead is brilliant. The last major upgrade was a huge leap forward in user experience, making the software more intuitive to use.
Castaway 3-way forecasting is fantastic. I have researched a couple of other leading business planning software packages and Castaway provides 10x more features and flexibility. I just developed a comprehensive 5 year Profit & Loss, Cashflow and Balance Sheet for a business in less than a day. Great for budgeting, business plans and bank financing. Also with direct interface to MYOB and Xero for actual results import.
I was a user of Castaway for over 3 years in my former role as Manager in an Accounting Practice. Our clients found this to be an invaluable tool for decision making and financial institutions were always impressed when presenting the 3-way forecast as part of Finance Applications. Upon commencing a new role as CFO of Dr+Group, the introduction and implementation of Castaway was a priority for the Board who agreed that this would be a vital tool when reporting on the financial performance of operations and developing business strategy going forward. The software has been easily adopted by other members of our Finance team due to the ease of use, the transparency and simplicity of the software.
We have been using WinForecast for the last 9 years as a robust P&L, Balance Sheet and cash flow forecaster. It has been brilliant for increasing bank and board confidence. In recent years, we have moved to Castaway. I highly recommend both Michael and his team to you and the Castaway product.
Castaway has been an integral part of my business in developing client forecasts both for internal management and board reporting as well as bank submissions for ongoing funding and new business acquisitions. The flexibility of data and budget/ actual variance reporting from P&L to cashflow and funds statement combined with exportability makes it a dynamic tool. I would recommend this product to all who are involved in this process and those who are making decisions about the future of a business.
I have been a user of Castaway since it was released, employing it across several industries and business sizes in that time. It has always appealed to me because of its ease of use – if you can use a spreadsheet, you can use Castaway. Not only do you get accurate, easy to read financial data, including the most important information of all - cashflow – but the customisable reports and reporting periods makes your output look top quality.
We had been looking for a forecasting tool to replace a legacy product, having found Castaway we couldn’t be happier. Castaway meets all our needs. We love the simple reporting and drill through functionality. This comes in handy with those complex, multiple entity consolidations. To be able to crack out a full budget and cash flow in super quick time allows us to provide real-time feedback to clients on a projects viability. In addition we utilise the link to source data feature to provide various flexible scenario analysis. We would recommend Castaway to any finance professional or business owner who wants to make informed decisions. Castaway is easy to learn and intuitive with backup support only a call away.
We have been using Castaway for three years now. In my 27 years as an accountant, no other piece of software I have encountered gets even close to equalling the value added to our practice and to the value we have been able to add to our clients' businesses, by using it. Our business has grown 40% in the last 2 years and 90% of this growth is attributable to Castaway work. Castaway is an essential tool for all advisory firms.
Our Company has been budgeting and cashflow modelling in Excel for many years and developed a sophisticated financial model. However, budgeting became a nightmare for our finance team as the Excel-based model became too complicated and never balanced when we consolidated the various entities in our Group. We switched to Castaway as it was easy to use and enabled us to run various “what-if” scenarios with middle management in a format they could understand. We no longer have broken links and budgeting is now a much more productive exercise. Recommend Castaway to anyone who wants to make budgeting simple and clear to all involved.