Balance sheet difference

SMALL BUSINESS SOFTWARE SOLUTIONS › Support Forum › Cash Forecaster Support › Cash Forecaster – General Software Support and Help › Balance sheet difference

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  • 1st October 2018 at 1:19 pm #2895
    jenna
    Participant

      Hi again,

      Thank to your software i now have 5 years of projections done… amazing.

      Just working out how to reconcile a difference of the balance sheet of £3.96. I had the same issue on my own spreadsheets, down to wages or a cost of sales line rounding, as each months amount had an extra 33p. I’ve tried adding an extra £4 onto the cost of sales to see if this helped it balance, but it doesn’t change. What am i doing wrong?

      Also, could you provide a link for where to leave you a review 🙂

      Thanks

      1st October 2018 at 1:51 pm #2896
      jenna
      Participant

        Can i also ask about where the numbers come from in the P&L reserves. In my own i had:

        Year one
        *Share capital – the amount invested by myself or investors in the business
        *Profit after tax for the year

        in yours i see:

        *share capital
        *Profit and loss brought forward
        *Profit and loss for the year

        I don’t really understand the brought forward part, since this is my first year of trading. I should note that since these are new business forcasts, there were no opening balances entered.

        Thanks, i just want to understand where the numbers have come from, so i know that my profit figures are correct in my business plan.

        2nd October 2018 at 4:40 am #2897
        Russell Bowyer
        Keymaster

          Hello Jenna, thank you for your questions.

          Regarding the difference on the balance sheet for your first question, can I firstly confirm that you’ve not entered anything on the opening balances tab.

          If you have, this must be in balance otherwise any differences on this will be carried through to each subsequent balance sheet.

          Aside from this, the Data entry tab only allows for whole numbers and should not allow for any difference. There is an error warning to prevent you from entering anything others than a whole number.

          You may have to send your sheet over to me and I can check it for you. But please fist check your opening entry tab, as for your business where it has no opening figures this should be nil as you say.

          2nd October 2018 at 4:49 am #2898
          Russell Bowyer
          Keymaster

            Hi Jenna, regarding your second question. The profit and loss brought forward will be the amount brought forward from each of the years as your forecast progresses, for example:

            Year 1: Profit and loss should be one line of profit or loss in the year, unless you’ve entered an amount in the opening data sheet (see above reply).
            Year 2: Profit brought forward will be year 1 above; then you’ll have the profit for year 2 in the current year’s profit and loss.
            Year 3: Profit brought forward will be years 1 and 2 combined; then you’ll have the profit for year 3 in the current year’s profit and loss.
            Etc.

            I hope all this makes sense, but if not please asked more questions.

            Finally, regarding a review, please follow this link here: http://www.bowraven.com/product/cash-forecaster-software/#reviews

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