Hi, is it possible to add in the stress test template extra forecasting periods per month
We opened an extra topic about this right here:
This request has already come up several times, but as you’ll see in the topic, we want to be sure to cover all scenarios (if possible ofc).
Care to share some insights in the topic mentioned above? I think it’s pretty clear why one would want this, but what kind of extra periods (months, weeks, how many, …)
Thanks so much already!
Could it be an option as user to predetermine the range of your forecast on top top of the template?
and somewhat like in the VAT comparison say, I want it months, quarterly, or weeks …??
I think this would indeed be the best solution. In this way, the template can be used for different scenarios.
Obviously, that surely can be built that way. Another thing that I come to think off: should there be any limitations here? How far does forecasting need to go?
I mean, the more forecasting periods, the more expanded the templates will look…
Agree with Robrecht, possibility to ‘select periodicity’, with regards to forecasting we get the feedback to discuss 3-6-9 months ahead with the client.
If you pick Monthly with 8 periods it ends on November.
Then I would suggest logically that you can forecast up until end of the calendar year (9 periods).
With Quarterly – it offers both client & accountant the opportunity to quickly compare / discuss Q1- Q2-Q3-Q4
All figures are then easily comparable to Q1 which is now being processed
(If calendar year = fiscal year, most of the accountancy files.)
Kind regards, Frederick
Next to that I believe that the user experience of completing the template would be improved if you allow monthly input. As a starting point for client discussion the accountant could derive figures from budget or 1/12 previous year or similar to Q1. Following it on a weekly basis could easily be the consequence of the client meeting.
(off course, according to the current cash position and need of a weekly budget)
It just comes to mind, that you would have 12m - 3m - 1m logic:
Some constructive examples of monthly input:
- repayment of loans 1/12 is easily reconciled
- expected turnover per month, discussed with the client (during corona measures, seasonality business, turnover during holiday period (july-august), … )
- costs on a monthly basis are easily corrected based on client discussion
And forecast further than the end of May would include and visualise:
- 60-90 days expected payment terms of clients/suppliers would be included and visualised
- turnover generated during corona-measures billed in April - received in June
- Repayment plan VAT, for example new deadline 20/06 would be included in the forecast
Our next update will allow the stress test template to do forecasting in weeks (current version as it is) OR in months (maximum of 9 months). We keep you updated as soon this is set live.