Entering your Organisation settings before creating your first Forecast

Before you can build a forecast for an Organisation in FUTRLI, you’ll first need to enter the Organisation’s Settings. These allow FUTRLI to automatically calculate your Sales Tax obligations and map your Accounts Receivable, Payable and Bank Account movements.

Written by Ross MacLeod

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Before you can build a Forecast for an Organisation in FUTRLI, you’ll first need to enter the Organisation’s Settings. These allow FUTRLI to automatically calculate your Sales Tax obligations and map your Accounts Receivable, Payable and Bank Account movements.

Step One

Navigate to the Scenarios section of FUTRLI. Here you’ll find each of the Organisations which you have access to listed, as well as any Scenarios which have been created for them. This is also where you can create new Scenarios. Before you can create a Scenario for an Organisation for the first time, you’ll need to complete the¬†Organisation Settings. To do so click the Settings button adjacent to the Organisation:

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Step Two

This will load the Organisation Settings window. On the left hand side of the Settings window you’ll find your Tax options. If you pay tax, enter your tax period frequency here. Then select the last day of your current VAT period and the number of days after the end of that period that your tax will be paid. In the example below, our Sales Tax is being paid Quarterly, 30 days after the end of each Quarter. We’ve also entered our default GST/VAT rate as 20 percent. This isn’t a mandatory field but is designed to save you time when forecasting by pre-populating the VAT rate field for you when entering Forecast Items. This isn’t binding and can be edited on an item by item basis:

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Step Three

After entering your VAT settings, map your Account defaults on the right hand side of the window. Here you can select your default Accounts Receivable, Accounts Payable, Bank Account and VAT lines. These will be applied by default to items which contain Sales Tax, Credit Terms or which are not entered as No Cash items. You can use FUTRLI’s Advanced Options to override your default Accounts Receivable, Accounts Payable and Bank Accounts lines on an item by item basis. Once happy, press Save. You will now be able to create a Scenario for the Organisation in question.