It’s been an exciting month for Figured and our community as we’ve released several helpful updates to our planning tools! With each of these updates comes better efficiency, accuracy and value for your firm, so have a read below to ensure that you and your firm are across the key updates and are seeing the full potential of your planning toolkit on Figured.

Top-down planning: Allocate forecast transactions in the planning grid

You now have the ability to allocate forecasted transactions to your trackers, which can be done in two ways:

• Dynamically: Create rules to automatically allocate transactions to a tracker using a formula based on a metric. The calculation will dynamically change throughout the season as the metrics changes.
  
  
• Manually: Allocate transactions by percentage split to your trackers.

The ability to allocate forecast transactions in the Figured planning grid gives you an added level of granularity as you forecast the profitability of your clients’ operations. Save time by letting Figured automatically update your budget based on predetermined metrics instead of manually updating your forecasts on new assumptions.

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Notes in the planning grid

You can now add notes directly against values in the Figured planning grid! Add any message you want, from explaining a calculation to putting down your assumptions to appear on your Figured reports as a summary note. This offers clarity and transparency over your planning numbers, and will save time having to reach out every time you want to review the figures in a budget.

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Automatic interest on overdraft now variable

With this update, you can change your overdraft rate and limit throughout the season when automatically calculating interest on overdraft. This tool will look at your forecasted closing bank balance and your interest rate(s) for the period, and calculate the forecast interest as the planned interest rate changes. You have the ability to reflect reality based on changing interest rates and forecast how this will impact the closing cash position each month. This allows for more accurate forecasts on both the bottom line and the balance sheet.

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Easily create accurate cash forecasts

Using the Assets and Liabilities planning tool, you can map actual accounts in your accounting software to specific planning line items. This allows you to build out future cash forecasts in these accounts. An example of this is mapping a new loan account, where you can enter in the interest rate and repayment period, and Figured calculates the rest. Automatic cash forecasts will be created showing interest and principal repayments over the term of the loan throughout Figured. This tool saves time manually calculating repayments and having to enter these individually into the planning grid.

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