Entering and Editing Actuals

In the following situations, historical financial information (actuals) will typically need to be entered or imported into the system:

  • Financial plans are prepared for an already operating entity and it is necessary to ensure continuity of financial reporting;

  • Prospective financial reports will include some initial periods for which historical results are already available;

  • BizController will be used to prepare controlling reports where historical results are compared against planned figures and variances are calculated on a regular basis.

Historical information can be entered and edited directly in the module or it can be imported from a text file (.csv) or Excel worksheet using one of the Import Wizards.

Click Historical Info to open the Historical Information Module. Click Module on, if necessary, to turn on this functionality.

Historical data are entered on an account level (full mode) or a financial statement item level (simplified mode) using one of the views available in the module.

Periods View

This view compares historical data across periods. If cost centres are used, it is possible to display data for the selected centre or the whole entity (a sum of all cost centres).

·         If cost centres are used and aggregates are shown for the whole entity, this view operates in the read-only mode. Select an individual cost centre if you want to edit the data.

·         The view only shows periods which are available as historical information in the current project setup. To change the planning horizon, including the Plan Start Period, go to Project Settings. These settings will affect the range of periods available in the Historical Info module.

Cost Centres View

This view compares historical financial data across cost centres for the selected single period.

If cost centres functionality is not used, this view is not available.

You can filter the accounts list to show only data for a selected FSI or to show accounts of a specific type.

It is important to remember that account balances for assets and liabilities should be entered as they show at the end of each accounting period and not as the so called ‘differential balance sheet’ (i.e. changes from the previous period).

On the other hand, income or cash flow accounts should show performance for the given period only (i.e. not as year to date figures).

Regardless of the view, if the data have been entered correctly, the total balance for all accounts displayed at the top of the window should read ‘0’ (i.e. the sum of all debits and all credits should be equal to 0)