Your five first steps in Futrli

An easy-to-follow guide for those who have just started with Futrli and have created their own workspace.

Updated over a week ago

To help you understand what you're seeing in Futrli and what to do first, we run through the five first steps we advise you to take when starting with Futrli.

πŸ“ŒTIP: To follow along with the steps below, you can use any organisation you've integrated with Futrli. Alternatively, you can use one of the available demo organisations.

πŸ“ŽNOTE: If you've been invited into a Futrli workspace, our alternative introductory guide may be more relevant to you - I've been invited to join Futrli - what are my first steps?

Step 1 - Connect an organisation

When you create a Futrli workspace, this prompts you to connect an organisation, so you may already have an organisation ready to use.

If you started with a demo organisation so haven't connected to an organisation yet, or you have additional organisations to integrate, follow this step to connect to a new organisation.

  1. Click on the organisation name on the top right, then click Manage Organisations.
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  2. Click to Add new organisation then follow the on-screen instructions to choose with accounting software you want to integrate with.
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    Futrli currently integrates with Sage Accounting, Xero and QuickBooks Online. You can also use one of the demo organisations if you don't want to integrate with your accounting software yet.
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Step 2 - Housekeeping

There are two tasks you need to consider before using Futrli:

Unreconciled transactions

Futrli can only use the data it is fed from the data source. If that data isn't up to date, Futrli won't be up to date either.

  1. Click Performance then click the Overview tab.

  2. On this page is a widget that gives you a summary of any unreconciled transactions. If you need to do anything, there is a link to log into your data source.

  3. Make the changes required in your Sage Accounting, Xero, or QuickBooks Online account, then head back into Futrli and sync it again.
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Overdue invoices

Even though we look at forecasting in step three, we're just going to jump ahead for a moment.

The daily tracker forecast is created automatically as soon as you integrate your organisation with Futrli. Within the daily tracker forecast, there's a specific section for every unpaid invoice that exists against the organisation - both owed to you and that you're due to pay.

If the due date of an invoice has passed, by default the system assumes it is going to be paid today. However, you can change this.

  1. Click Forecasting section, then into the daily tracker forecast. The invoices section can be found on the first page you land on.
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  2. Here you will find the full list of unpaid invoices, both overdue and not yet due.
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    You can make the following changes:

    • Override the expected due date. Click on the calendar icon and change the payment schedule, there can be multiple payment dates if needed

    • Exclude the invoice

    • Use the bulk option to exclude in bulk, include in bulk or change the expected payment day in bulk

Tidying both the unreconciled transactions and the overdue invoices means that the data you're working with in Futrli is up to date and, most importantly, trustworthy.


Step 3 - Forecasting setup

This is where you start getting into the main features in Futrli, starting with forecasting.

There are three types of forecast in Futrli. Below is a summary of each one.

Daily tracker forecast

As previously mentioned in step two, the daily tracker forecast is created automatically when an organisation is first integrated with Futrli.

The daily tracker runs for the next 3 years from the current month. Actual data is shown for any historical periods, forecasted data is shown on any future date.

Two features in the daily tracker forecast set it apart.

The first is that all unpaid invoices for an organisation will be shown in the daily tracker. You can then override the expected payment date, or even exclude invoices. This builds an even more accurate cash flow forecast as you determine when those unpaid invoices will impact.

The second feature is that each account in the organisation will have a prediction created automatically. Those predictions are created with the use of algorithms that analyse historical data and trends.

Those predictions can be switched off, new predictions can also be created.


Budget

The first of your options when building your own forecast.

A budget is 12 months in duration. The same automated predictions as in the daily tracker can be used, or new predictions can be created.

Forecasted data can be pulled into Futrli via Google Sheets.

You can create a new budget by using last year's actual data, or by starting from scratch.


Scenario

The second option when creating your own forecast is a scenario.

A scenario is the same as the daily tracker in that it will run from the current month for the next full 3 financial years.

You can again use those automated predictions, or you can create your own, or you can again use Google Sheets to pull in data.

Once you have a better understanding of the different types of forecasts listed above, you're ready to build a new forecast. You can then use it in a report.

  1. In your Futrli account, click Forecasting.
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  2. You see the options to create a new budget or a new scenario.
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    In this example, we're going to use the option From Last Year's actuals to create a new budget.
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  3. Give it a name, then set the start date to be from the start of next month.

    The budget has now been created with no further action is required,
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    β€‹πŸ“ŒTIP: You can add new predictions.
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What can I do with this budget?

Export to Google Sheets

You can export your budget via Budget controls. You can find this in the top left corner of the window.

Publish

Any new forecast or report you create starts life as a draft. The creator of the draft is the only person with access to it. Nobody else can see it until it is published.

To publish, head back to the main forecasting homepage where you'see the budget sat in the drafts on the left-hand side. Click the dropdown and you see the option to publish.

Once published, you can close the budget - this locks the budget and prevents others from making changes.

After you publish a forecast you can reference it in a report, which we cover in the next step.


Step 4 - Create a report

You have full control with reporting in Futrli. For example, what you want to report on? What date range you want to report on? If you want to compare multiple forecasts with your actual data, etc.

With the drag and drop functionality, the design of the report you create is completely up to you.

πŸ“ŒTIP: If you don't want to start from scratch, there are plenty of templates options to choose from, including the option to create your own templates.

Below we run through how to create a new report and use the newly created budget to reference data from.

  1. Click Reporting, then locate the Create from section.
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    In this example we going to use the Portrait option in the Scratch tab.
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  2. In your new report, you see a menu bar on the right-hand side. In the Builder section of that menu is various display options. For example, do you want a pie chart? A Line graph? Just a table? In our example, we'll use a bar chart.
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  3. Drag and drop the icon onto your report, you can then reposition and resize.
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  4. You then have four tasks to complete.

1 - Set a title/sub-title

Give it whatever name you want. If you don't want a title or sub-title, just leave it blank, it exports with a blank space.

2 - Select the dataset(s)

Even if you haven't yet created a forecast, there are still three options to choose from:

  • Actual data

  • Prior year actuals

    Tthe daily tracker forecast.

πŸ“ŽNOTE: If you created the budget in Step 3, that budget is also available.
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In this example, let's use the daily tracker forecast and the budget you created.

You can add datasets can either by dragging and dropping into the Datasets box, or by double clicking them

3 - What do you want to report on?

You see two Y-axis boxes. This is for if the data type is different. Drag and drop whatever you want to report on into a box.

For this example, let's use both Y-axis options. Add Gross Profit into Y-Axis 1 and Gross Profit % into Y-Axis 2.

4 - Date range

The final job is to set the date range you'd like to look at.

Drag and drop the options you'd like. For this example let's look at months.

As this is the last step, once that last box has data you'll see the widget update in the report.
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Step 5 - Invite others

The final step in our five first steps is to invite others to join your Futrli workspace.

  1. Head into the users section. Click the dropdown adjacent to the organisation name.
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  2. Click Add user.
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  3. You now need to know:

    • The invitee's full name

    • The invitee's email address

    • Which organisations they'll have access to

  4. Finally - select the role you want them to have in Futrli. This decides their permissions.

Those are the five first steps completed!

πŸ“ŒTIP: If you ever have any questions and can't find the answer in our knowledgebase, our Support Team are always happy to help! You can reach them at any time in-app by clicking on the bubble in the bottom corner of the screen, or by emailing futrli-help@sage.com.

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