Using Balance Sheet Projections
For more about the Balance Sheet and how it affects you read our blog post Balance Sheet Projections and You.
Creating the Baseline Projection:
ProfitSee uses historical data and statistical analysis to calculate your estimated balance sheet in seconds.
Step 1: Log in to your ProfitSee account and click the "Forecasting" Tab
Step 2: Select the "Balance Sheet Projections" Tab
Step 3: You will then be prompted with this message
If you have sufficient historical AR/AP data
Step 4: ProfitSee will prompt you to hit the "Start Button".
If you do not have sufficient historical AR/AP data
Step 4a: ProfitSee will notify you of this and prompt you to upload a spreadsheet with your historical data. (Note: if you do not have access to historical AR/AP data we suggest making your best guess.)
Step 4b: Upload the completed template and press "Start"
Step 5: After clicking "Start", ProfitSee will automatically create a baseline Balance Sheet Projection for your company.
Building & Comparing Strategies
Adding Loans:
Want to show how a future loan will affect your balance sheet and ultimately your Cash on Hand?
- Click the "Build a Strategy" button
- Select "Add a Loan"
- Enter in the terms of the loan
- Click Save
- The loan will appear in the "Strategies" line item in the lower data table.
Additional Monthly Expenses:
Occasionally loans may require additional monthly expenses. Use the "Add Additional Monthly Expenses" Strategy to record these adjustments and see how it will affect your Cash on Hand
- Click the "Build a Strategy" button
- Select "Add Additional Monthly Expenses"
- Enter in the terms of the expenses
- Click Save
- The additional monthly expenses will appear in the "Strategies" line item in the lower data table.
ProfitSee's baseline balance sheet projections look historically at the percentage of bills and invoices that are collected within the listed time frames (0-30 days, 31-60 days, etc.). You can adjust these percetages and see how this affects the balance sheet and cash on hand.
- Click the "Build a Strategy" button
- Select "AR/AP Assumptions"
- Manually adjust the receivables and payables collection assumptions
- Click Save
- The accounts receiveable and accounts payable values will automatically adjust in the strategy data table to reflect the collection percentages you have entered.
Compare, Download, and Print Reports
Compare different strategies by activating or deactivating any of your created loans, expenses, and AR/AP Assumptions. At any point you may download an excel file of both the baseline projections and strategies you currently have active. Easily provide options to your clients and determine the best action to take by printing reports directly from the Balance Sheet Projections screen.
- Click the "Print" Icon in the upper right hand corner of the screen
- Download the Excel report
- Print the report to your printer