Journal Forecasting
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Journal Forecasting allows you to project future financial transactions on your Asset, Liability and Equity Accounts. This feature enables you to predict cash flows, expenses, and revenue more accurately, providing deeper insights into your business's financial health.
Go to the one of the Asset, Liability or Equity tabs on the left hand side under the financials section.
Click on the Account Name
Select "create a value rule"
Select "One Time Payment" to enter a single journal forecast.
Use the "add movement" button to select the accounts you would like to decrease & increase.
You can also select type : "recurring" in order to enter a recurring journal entry forecast.
Accurate Cash Flow Projections: Plan for future cash needs by forecasting inflows and outflows.
Expense Management: Anticipate upcoming expenses and manage your budget effectively.
Revenue Predictions: Estimate future sales and income to make informed business decisions.
Customizable Scenarios: Create various scenarios to understand potential outcomes under different conditions.
If your business experiences seasonal fluctuations, use Journal Forecasting to anticipate peak and low periods. For instance, if you know that Q4 usually brings higher sales, you can forecast increased cash inflows and prepare for it by planning inventory purchases and staffing needs accordingly.
