IMPORTANT If you haven't filled out your historical Balance Sheet, now is the time to do it. Get started with this article from our Knowledge Base:

-How to enter your Balance Sheet

There are 4 forms to fill out in the historical Balance Sheet. These forms are highlighted BLUE in the left column. You can access these forms by clicking on the blue text hyperlink to be sent to each corresponding form menu. These 4 forms are:

  • Capital Assets
  • Investments
  • Debts
  • Share Capital


NOTE When you enter an amount in one of these corresponding cells, you MUST create an entry using the SAME amount and SAME date in the corresponding forms. If not, your cell will be highlighted in RED and you will have an error in your balance sheet.
 


REMEMBER When you have entered the details of a form properly, the cell for that line turns white, which means that your form balances with the amount entered in the cell.


PRO-TIP If the amount you entered for your last month selected in your historical Balance Sheet is wrong, you will see a red warning in the relating form showing you the differential between the amount entered in the form, and the amount entered in the Historical Balance Sheet. 
See below for an example:


To see all your Capital Assets, or Investments, or Debts, or Share capital you entered, select "All months" in the pull down menu under "List".


CAPITAL ASSETS

To add one or more Capital Asset, click on the blue hyperlink "Capital assets" in the left column.

   

Click on "Add Capital" to begin adding your capital assets by choosing the category of the capital asset, entering the amount ($), the accumulated amortization, and the month of purchase.
Remember to click on the SAVE button on the bottom left to add your capital asset into the "Capital List.


Click on "Category Capital" to change the amortization method and rate (%).

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$

Therefore, 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 as a negative amount!


INVESTMENTS 


To add one or more investments, click on the blue hyperlink "Investments" in the left column.
 

Click on "Add Investment" to add your investment(s).

MONTH: The date should be the last month selected in your Historical Balance Sheet when importing your historical financial data (1).

  

In this example, we have a stock investment being added in the month of May 2020 for $10,000.00 carrying a 7% interest rate.

Remember to click on the SAVE button on the bottom left to add your investment into the "Investment List".


DEBTS


To add one or more long-term debt, click on the blue hyperlink "Current portion of the long-term debt" or "Long-term debt" in the left column. 


Click on "Add Long-term Debt" to add all your debts. You can change the interest rate calculation of your debt to Variable principal or fixed principal.

BALANCE FOR MONTH OF: Details for all debts should be included here (ESPECIALLY if you have entered an amount in your Historical Balance Sheet for "Current portion of the long-term debt"). 
This should be the last month selected in your Historical Balance Sheet (1).

   

In this example, a low-interest rate loan from Bank XYZ of $25,000, with a 36 month payment duration is being added, carrying a 5% interest rate (variable principal).

Remember to click on the SAVE button on the bottom left to add your long-term debt into the "Long-term Debt List".


SHARE CAPITAL


To add your share capital, click on the blue hyperlink "Share capital" in the left column. 

   

Click on "Add Share Capital" to add your share capital. You can change the type of share to "Participating only" or "Voting only" or "Voting and participating".
MONTH: The date should be the last month selected in your Historical Balance Sheet when importing your historical financial data (1).
    
In this example, we have an investor (Bob Smith) investing $15,000 on May 2020 for voting and participating rights in our company.

Remember to click on the SAVE button on the bottom left to add your share capital into the "Share Capital List".


REMEMBER to click on the SAVE Button located in the top left of your screen to save your current Balance Sheet and completed 4 forms (Capital Assets, Investments, Debts, Share Capital). If you leave the current page without saving, your progress will be lost.


PRO-TIP: What happens if you encounter an error? It can happen that an error message appears while trying to fill out the forms. Fix these possible errors by reading this article from our Knowledge Base (See Error 3):

-Possible Errors in the HISTORICAL DATA Menu


--------------------------------------WHAT'S NEXT---------------------------------- 


Now that you have finished entering your historical data with Budeto, it's time to fill out your budget.
It's important to focus on your company's FUTURE and what's to come so you can be better prepared and have everything laid out for you. This is why at this stage we are asking you to fill up forms rather than extrapolate the past. We want you to think differently, we want you to plan for what you have never done.

That's why it is critical to have a solid understanding of your financial projections. Get started with these articles from our Knowledge Base:

-I'm new to Budgeto, where to start?

-How to enter sales


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Related Articles (Please refer to the links below)


-How to enter your HISTORICAL DATA Manually

-How to use the Manual Variations menu

-Possible Errors in the Historical Data Menu