Liquidity Guide: How to get today's cash view when reports are late

When leadership asks for "today's cash" and one or more subsidiaries haven't reported, you still need to deliver a credible number on time. This guide shows how to assemble one usable cash view from confirmed data and sensible estimates—clearly labeled—so decisions can move forward without waiting. 

Why cash visibility matters when subsidiary reports are late

Late reports happen: Time zones, holidays, quarter-end crunch, or simply bandwidth. Treasury's job is to act with confidence, not stall. In practice, clarity beats perfection under time pressure: present a consolidated view now, mark what's confirmed versus estimated, and note the follow-ups you'll close next. Over time, reduce these gaps with tighter connectivity and reporting discipline—but when the clock is ticking, you need a repeatable way to ship a number you trust.

Further reading: Cash visibility and a practical overview of how to get started with liquidity management

The core rule for today's cash view

If any entities are missing, build today's view from what you have (confirmed + estimated) and label confidence. The work product is a single, decision-ready total, not a patchwork of emails.

Step-by-step process

1) Map who reported—and who didn't

Start with a simple list so everyone sees the scope immediately:

• Reported today: Subsidiaries A, B, C
• Missing today: Subsidiaries D, E

This prevents double work and frames the task before you start pulling numbers.

2) Pull the last known balances for missing entities

Use the last reliable value (yesterday's EOD or last business day) from the same source you use for standard reporting. Consistency matters: mixing data sources is how numbers drift. If you operate multiple banks, confirm that all accounts for each entity are represented—no partial views.
Related: multi-entity practices in The key to cash flow visibility across multiple banks.

3) Estimate today's movements for those entities

Apply a lightweight model the team agrees on in advance. Examples:

• Pattern-based: Typical non-payroll weekday net movement for Entity D is –€0.4m (trailing 8 weeks).
• Calendar-based: Entity E has an AP run on Wednesdays; –€1.1m on those days unless flagged otherwise.
• Event-based: Local VAT payment today; –€0.3m expected.

Mark each line with confidence: high/medium/low, and add a one-line rationale (pattern, calendar, or event). If the entity is material to the group position, add a quick sensitivity (e.g., ±€0.5m) so stakeholders see the potential swing.

4) Roll up confirmed and estimated into one table

Build a single view and sum to Group Cash. Use consistent FX rates when converting to group currency. A simple structure works:

Double-check the usual failure points: duplicate accounts, dormant accounts included by mistake, and stale FX. For a longer-horizon context, see What is cash flow forecasting? and Cash forecasting automation.

5) Flag material exceptions

If an estimated entity is material (for example, >5–10% of Group Cash), call it out beneath the table:

"Entity E estimated (AP run) — confidence high; magnitude €1.1m."

If the estimate could influence a funding decision, add a contingency note (e.g., "Buffer intact even if E comes in ±€0.5m."). If today's uncertainty surfaces broader structural issues (fragmented portals or regional silos), add a process fix to your backlog.

For context on modernizing the operating model, see Best multinational liquidity management strategies.

6) Send a short CFO update

Keep it calm, factual, and brief:

Today's cash view: €X.Xbn (reported: €…, estimated: €…).
Coverage: No liquidity issues anticipated; buffers intact.
Exceptions: Entity E estimated (AP run), confidence high.
Next steps: E's file expected by 13:00; we'll update if the variance exceeds €0.3m.

Stick to your threshold promise: follow up only if the variance matters (e.g., funding, headroom, cut-offs).

Practical guardrails for reliable cash visibility

Agree on the estimation playbook once. Document defaults for each major entity (typical non-payroll day, AP/AR cadence, payroll days) and keep them in a simple sheet. This removes debate when time is short.

Label estimates clearly. Executives accept estimates when they're visible, bounded, and explained in one line. In your table, add a brief rationale and set confidence as high/medium/low.

Work with thresholds, not hunches. Decide the variance that actually triggers a follow-up (e.g., >€0.3m or >2% of Group Cash). That prevents noisy updates.

Fix the root causes. Track why files are late (feed failure, holiday cutoff, manual step) and resolve the top two drivers. Over time, resilience comes from better visibility and automation, not heroics.

Common pitfalls (and quick fixes)

• Double-counting multi-system accounts. Maintain a reconciled account map (per entity, per bank) with a single "golden" source for each account.
• Using stale FX. Publish a standard intraday FX set for converting balances to group currency.
• Inflating confidence. If your basis is weak, call it low. Credibility comes from labeling, not guessing.

What "good" looks like

A single page showing Group Cash, what's reported, and what's estimated; a short note that answers "Are we covered?"; and a tiny SOP the team can run in minutes when a file is late. Over time, fewer estimates because visibility becomes daily and centralized.

Explore more: Cash visibility and selecting the best solution for cash & liquidity forecasting. For ML-based depth forecasting, see Cash flow forecasting with AI.

Summary

When local reports are late, don't wait—estimate. Use last-known balances, make sensible adjustments, label confidence, and present a single consolidated number with a clear note on coverage and next steps. Then invest in the plumbing that makes tomorrow simpler.

Next up in this blog series: Avoiding double-counting or missing balances in multi-system environments.