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 or there may be a bid for upcoming work you’re hoping to win, or you think a new product will have seasonal amounts.
Click Add against any account, then select Freestyle.
Give the prediction a name, you’ll then see a new row has been created.
Fill in the monthly amounts (ex VAT/ GST).
When you click the green tick a window will appear, giving you the option to set the day of the month these activities are stored on.
Then don't forget to do 2 checks:
VAT/ GST % - it will reference your default (as above) (this is found in settings), but you can override.
The Cash Impact (top right) - when this activity is going to be paid, will it be same day or will it be split? If it is non-cash then this can also be selected.
Save any changes and you’ll be able to see the impact of your new prediction in the Activity tab, the Cash Impact tab.
Note: A prediction will show up in multiple places once it’s created. 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.).