In any Futrli forecast, you can create manual predictions. This guide covers the four methods you can use to create a prediction manually.
📌TIP: You can import predictions via a Google Sheets template.
How to create a new manual prediction
📌 TIP: You can create multiple predictions against any account, then simply toggle it off to hide any impact of the prediction.
Click Forecasting, then click View/edit in the relevant forecast.
Click New prediction in the top right of the window, then click Manual prediction.
On the Prediction method drop-down, select which method you'd like to use to create a new prediction. We cover these methods in the next section.
Prediction method options
There are four methods to create your prediction.
Formula
Formula
You can use formulas if you have business events such as:
Marketing spend increases with revenue
You get a better deal on product costs if you sell more
Sales commissions depend on your team’s sales thresholds
Corporation (Income) tax needs to be calculated to ensure enough cash in the bank
Freestyle
Freestyle
Freestyle is useful for those less predictable accounts.
Set certain totals against certain months, or use the 'Quick Actions' option to increase/decrease results by certain amounts.
Repeating
Repeating
Use this for the more predictable accounts.
Set the repeating amount, choose how often it repeats (daily, weekly, monthly, quarterly or annually), and then specify the end date for the repetition. You can also add percentage or amounts increases and decreases if required.
Unit
Unit
This is perfect for the selling of items.
Set the selling price, then how many you'll be looking to sell and in what time range. Confirm when the selling will commence, and when it might end (if it does). You can then even add a growth percentage or a refund percentage, as well as a future price change.
What is the accounts impacted tool?
Whichever method of predicting suits you, the Accounts impacted tool gives you a live view of exactly what numbers your prediction is producing.
As you update your prediction, numbers populate each impacted account.
When you use the freestyle, repeating, or unit-based methods, you see figures updating for:
The account your prediction is set against
The bank account being credit/debited
The VAT/GST account (if the prediction has VAT/GST)
The accounts payable/receivable line (depending on the cash flow payment treatment)
The chosen balancing account (if a non-cash transfer has been selected)
What is the Formula values tool?
When you use the formula method to create a prediction, a second tab displays alongside Accounts impacted called Formula values used.
This tab displays anything referenced in your formula. This allows you to sense-check what you're creating as you create it.