The HISTORICAL DATA section is accessible through the CONFIGURATION MENU.
The best way to fully understand this menu is to really play around with it. But here are some rules about that menu:
Monthly or Annually
You can enter your data monthly or annually. If you enter them monthly, there cannot be any “holes” between the months. For example, you cannot enter January, February and April of a year without entering March. The tool will let you do it, but it will not be possible to use them in your FINANCIAL REPORTS.
Use in Your Financial Reports
To push the data of a month from your HISTORICAL to your FINANCIAL REPORTS, simply click the month you want to use than save your changes. A line name Last Month will appear and separate what is used from what is not.
For now, the only months that will be used in your FINANCIAL REPORTS are the one of the ongoing calendar year. For example, if your first year of budget is October 2017 till September 2018, you will be able to enter historical data and push the data in your FINANCIAL REPORTS starting in October 2017 till the ongoing calendar month.
There are two essential rules to follow to be able to use your historical data in your FINANCIAL REPORTS:
- The last month selected for your historical balance sheet must match the last month selected for your historical income statement. To view your financial reports, you must ensure that the last months selected are the same for your actual historical balance sheet and your historical income statement;
- The « Retained earnings (deficit) » for the last month selected in your historical balance sheet must match the « Retained Earnings (Deficit) at the end » of the last month selected in your historical income statement. To view your financial reports, you must ensure that the retained earnings are the same for your historical balance sheet and your historical income statement.
Because Budgeto cannot manage the past (it doesn’t know what were the assumptions), you have to manually manage the variations of your historical balance sheet using the grid provided for this purpose in the menu MANUAL VARIATIONS. For example, if you have $2,000 of accounts receivables in your last historical balance sheet, you must manually collect it. If you get paid $1,000 on the third month, then you should enter -$1,000 in the grid in the third column.
Forms in the Historical Balance Sheet
(to be posted soon)