To ensure the continuity of the calculations in your FINANCIAL FORECASTS, you must detail the balance entered for 5 rows of the historical balance sheet:
- Short term portion of LT debt & long-term debt (these two lines go together);
- Share capital.
Here are 3 things to keep in mind:
1- These lines have blue hyperlinks that open forms.
2- The forms must be completed for the last month of the Historical Balance Sheet reported in your FINANCIAL REPORTS. In the following example, the last month reported is March 2017.
3- When a form does not balance with the amount entered in the column, the cells are highlighted in red. Again, it is important to note that this validation is done only in the last month of Historical Balance reported in your financial reports.
Here is an example of a form from the Capital Asset's line. In our example, the balance of the Capital Assets is $ 115,688. You must enter the detail of this $ 115,688 in the Capital Asset's form. To do this, click on the blue hyperlink Capital Assets and enter the detail of the balance of your Capital list:
In this form:
- The total of Amount is 75 000$ + 15 000$ + 25 000$ + 4 500$ = 119 500$
- The total of Accumulated Amortization is 1 251$ + 189$ + 2 081$ + 291$ = 3 812$
So, the balance for this form is 119 500$ - 3 812$ = 115 688$, which is also the balance entered in the balance sheet.
Note: do NOT enter amortization in negative!
When you have entered the detail of a form properly, the cell for that line turns white, which means that your form balances with the amount entered in the cell.
To view the other forms, you can always access the DEMO BUDGET available from the DASHBOARD and consult the menu HISTORICAL DATA / Balance Sheet / Balance Sheet.
Until all forms have not been entered properly, it will be impossible to see your historical balance sheet data in your financial reports. You can still save what you have entered, but your months will be automatically "unchecked" (the green check box at the top of each column will be disabled). Here is the warning message that will appear:
If you choose CANCEL, you can continue filling in your forms. If you choose SAVE, your data will be saved but "unchecked":
Once all your forms have been entered appropriately for your last month of Historical Balance Sheet and there is no red cell in the Historical Balance Sheet, you can then use your historical data in your financial reports. In our example, this means that you will have actual historical data from January 2017 to March 2017 and then budget data (forecasts) from April 2017 to December 2021.