Use this facility to forecast your Profit and Loss Account.
Dropdown menus on the toolbar allow you to select a Company, a Department or a particular View or a particular Time Series/Year eg the Budget or Last Year Time Series. A Department is defined by one of the Account groups which is selected on the COA toolbar. The various views include: 1)All the time series(Current Year,Budget,Next Yr etc) 2)The management account views in Period,YTD,Full Year format against budget and last year 3)5Year Plan View 4)By Company,By CC,By Dept crosstab reports for Period, YTD or full year A New 'SheetbyDept' button allows you to see your current view with each department on a separate tab
DRILLDOWN ">" (See separate help topic) Level 1 On drilldown from the P&L Forecast (by clicking on an arrow to the left of an Account) you get to a form where you can directly enter your forecast data The METHOD (See separate help topic) of each account can be set at this level. The Default is ‘ENTER’ The alternatives are LINK, %SALES, %EMP, %ACCOUNT, %LASTYR, %PBT, EMPLOY, STOCK, STOCK2, STOCK%, PREPAY, ACCRUE, PROVISION, %PROVISION, QTYPRICE, PRODUCT Level 2 You can drilldown again from the summary account level view to the detailed account level view where you can again enter assumptions and forecast data depending on the TYPE/METHOD of the account.
Functions at the top of the window as follows: • “Download xls” – Enables you to export current view to an excel spreadsheet where you can reformat and print. • “Flex” Allows you to apply % changes by Account Group to Sales, COS, Employment, Other Overheads or populate the forecast based on % increases on previous year. You might want to do this by creating a separate version first based on your MAIN version • “Show Total” – shows a total of selected cells in cell A3 next to Company name • “Recalc” This is a routine that needs to be run before viewing any of the main reports It carries out the following checks: • Brings profit through onto balance sheet and makes cash (System 1CASH account) the balancing figure • Recalculates Trade Debtors and Creditors based on days • Recalculates Depreciation, VAT, PAYE/NIC creditor • Recalculates % of account calculations • Recalculates Accrual/Prepayment accounts • Ensures everything balances