A freestyle prediction is perfect when you want to predict a one-off amount or a series of irregular amounts. For example, you may be planning to pay for an upcoming event, there may be a bid for upcoming work you’re hoping to win, or you think a new product will have seasonal amounts.
In each of the financial tabs, you'll see a button to Add manual prediction. Give that a click, then in the Prediction Method dropdown, select Freestyle.
You'll then be able to set up your prediction:
Give the prediction a name, this is how it will be shown in Futrli.
Select which account you'll be creating a prediction for.
Set the VAT/GST rate, if it differs from your default.
Select which date for the prediction to be stored on.
You can now add figures for each month (excluding VAT/GST). You can use the checkbox against the financial year, or against different months, which can then be used alongside the Quick Actions.
The Quick Actions option allows you to save yourself some time with helpful shortcuts:
Set selected to (each month selected can have the same figure entered, no need to add individually)
Increase/decrease by percentage (update the figures by a percentage increase or decrease)
Increase/decrease by amount (update the figures by an amount increase or decrease)
Split between selected (set the number to split, then select which months will have an even amount split between them)
To keep things tidy, the default will be that only the current financial year displays. Add further years with this option.
Set the impact on cash flow.
Single day payment
Single payment (set the date for payment)
Multi: in days (set varies dates from different percentages on payment)
Non cash transfer (remove any cash flow impact, just select the balancing account)
Get a live view of how your new prediction is impacting various accounts.
Save your prediction when ready and you'll find it showing in multiple places within your forecast. You’ll see a corresponding prediction line with the same name on the P&L, Cashflow Statement, Cash Impact and a possibly a number of areas on the Balance Sheet (bank account, accounts payable, accounts receivable, VAT/ GST, current year earnings etc.).
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