Starting a new financial planning

In this article

Banana Accounting integrates Financial Planning directly in the accounting.

Add planning to an existing accounting file

If you already have an accounting file and you wish to enable it for planning you must Add the Budget table.

Likewise, if you wish to manage your accounting and planning jointly, create the accounting file first and then add the Budget table.

Create a new file for the budget planning

The process is the same whether you only manage an accounting, a planning or both:

  1. Create an accounting file
  2. Define the file properties
  3. Set up the chart of accounts
  4. Enter the opening balances (if available)
  5. Enter the forecast values in the Budget table.

The Transactions table, however, remains preset; if you don't want to see it, you can make it invisible: Data menu -> Tables setup and indicate the Transactions table as not visible.

Documentation with Basic example files

The best way to start planning is to use one of the tutorial templates, where alphabetical accounts are used, to make it easy to understand the concepts.
If you need a more structured chart of accounts to enter the planning data, edit the file, or use another template, adding the Budget Table.

You have several Budget possibilities:

Documentation and Advanced example files

The explanations and related sample files listed below will explain how to use more advanced features, such as the use of formulas and quantities.

Annual planning

As a rule, the planning is prepared for the accounting period defined in the File Properties, which generally corresponds to the calendar year.

  • In the Opening column of the Accounts table, enter the opening balance at the beginning of the period.
  • In the Transactions table, enter the planning data for the current year.

When you need reports, if you do not enter a specific period, the program uses the accounting period.

To prepare the next year's planning, you must create a file for the new year. The program contains the budget records, which can be edited (see End of Year and New Year).

Planning over several years

With Banana Accounting you can plan over several years. The planning period is free, when you request the report you set the Period for the forecast.

To plan over several years, you generally need to set the planning for the first year and then extend it to the following years.

Technically, proceed as if you were doing an annual planning, extending it to the following years:

  • In the File Properties, indicate as start and end dates, the dates of the first year (which is generally the calendar year).
  • Enter the opening balances in the chart of accounts.
  • In the Budget table, enter the forecasted movements
    • Operations that are specific only to the first year, indicate them without repetition.
    • All other operations, which you assume will be repeated in the following years, must be indicated with the repetition code.
    • Operations that occur only once a year must be indicated with the annual "Y" repetition (for example, the calculation of depreciation is made at the end of the year).
    • The specific operations in subsequent years must be indicated with the respective date on which they take place.
    • For repetitive transactions that are limited to a single year or a specific period (for example, leasing transactions with a fixed duration), indicate the End date. Beyond this date no more repetitions will be made.
    • You can use the formulas to make the amount of repetition lines adjust automatically.
      • The calculation of depreciations can be based on the balance of the fixed assets account.
      • The calculation of interest can be made directly on the variation of the bank account.
      • You can specify a sales progression.
      • Purchases can be defined in percentages.
  • To obtain the planning (Enhanced Balance Sheet Report with or without Groups, Account Card), indicate the start and end date of the required forecast.

Create New Year

The Banana Accounting function to Create a New Year also carries over the planning records.

  • At the level of each line you have the possibility to indicate whether the operation should be carried over or not, and whether the original date should be kept or replaced with the new year's date.
  • Creating the budget for the new year is therefore very simple, because it is only a matter of changing the items of expenses and revenue that are expected to change.

 

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