When you manually create a prediction, one of your prediction option methods is Repeating. This method allows you to add a set amount to a certain period (daily, weekly, monthly, quarterly or annually) in a forecast. However, there's then the option to add a percentage or fixed amount over time.
This method is ideal for straightforward recurring amounts such as rent for an office, or for recurring amounts that may increase or decrease over time such as a new monthly revenue stream.
Create prediction using the Repeating method
In a forecast, click New prediction in the top right of the window.
Click Manual prediction, then on the Prediction method drop-down, select Repeating.
Build a new prediction with the repeating method
The numbers you add to the prediction are up to you, but there are several steps to tick off. Let's run through what you need to do.
Enter your prediction name
Enter your prediction name
Give the prediction a name. This is how the prediction will display within the forecast, or any reports you build referencing it.
Account
Account
Select which account you'll be creating a prediction for.
VAT/GST/sales tax rate
VAT/GST/sales tax rate
If you don't enter a VAT/GST/sales tax rate, it will use your default rate set in your settings.
If you want the amount to be different for this prediction, enter a different VAT/GST/sales tax rate.
Start date
Start date
Determine when the prediction is going to start.
Amount
Amount
Enter the amount of the prediction exclusive of VAT/GST/sales tax.
Repeat
Repeat
Now decide the pattern of repetition. This can be:
Daily
Weekly
Monthly
Quarterly
Annually
End
End
If applicable, set an end date. This can be after a certain number of repetitions, on a certain date, or it could have no ending.
Monthly increase/decrease
Monthly increase/decrease
Depending on the repetition pattern you've set (for example, weekly), you can add either a percentage or amount decrease or increase. The original amount you enter is your starting point, with increases or decreases calculated for future periods.
Cash filter payment treatment
Cash filter payment treatment
Set the cash flow payment treatment. The following options are available:
Same day payment
Single payment - Set the date for the payment
Multi: in days - Set various dates from different percentages on payment
Non-cash transfer - To remove any cash flow impact, just select the balancing account
📌TIP: For more details on non-cash transfers, use your guide, Create a no-cash transfer.
'Accounts impacted' tab
The Accounts impacted tab shows you all accounts that will see movements. This ranges from the initial P&L or Balance Sheet account created against the prediction, to the VAT/GST/sales tax, bank, and accounts receivable/payable.
📎NOTE: The Accounts impacted tab will not show until you enter a Prediction Name, an Account category and the Amount.
