Default Scenario Types

Introduction to Forwardly's Default Scenarios

Forwardly offers several preconfigured scenarios for the convenience of business users doing cash flow forecasting. These scenarios can be accessed by clicking on Plan a Scenario in the Cash Flow area.

Different Default Scenarios

You can select a number of pre-built default scenarios where you can enter the parameters related to your specific situation. 

Let's understand how the preconfigured scenarios work: in each of Fowardly's scenarios, either select from the available options or enter the details to each of the field names.

Plan a Loan

• Lender Name: Select the name of the third party / business / institution that is extending the loan to you. At the drop-down menu, you may either:
  • Pick from an existing contact or vendor; or
  • Enter a new name.
• Chart of Account. This should be the Chart of Account that this particular loan would fall under. In our example, we have selected Loan Payable short term.
• Loan Amount. You may either use the slider to specify the loan value or enter it directly by clicking on the displayed loan value in figures. In our example, we have entered $150,000.
• Annual Percentage Rate. You may either use the slider or enter this value manually by clicking on the displayed rate to the far right of this field. In our example, we have entered this value as 10%.
• You can also select the rate type, which could be either be one of the following two values:
  • Flat
  • Reducing
• Number of Installments. You may either use the slider or enter this value manually. In our illustration above, we have set this value to 10.
• Additional Charges. Add a value for this field only if there are any additional charges associated with this loan, such as an advisor fee.  Otherwise, you can leave it blank. The value can be based on the following:
  • Value. The number you enter here will be taken as a flat monetary value.
  • Percentage. The number you enter here will be taken as the percentage value of the total loan amount.
• Installment Start Date. The date when the first installment of this loan is expected to be paid. Use the date picker control to select the start date for the loan's repayment.
• Installment Frequency. This specifies whether the installments will be paid:
  • Daily
  • Weekly
  • Bi Weekly
  • Monthly
  • Semi Monthly

Financial Modeling

First, select the base by clicking on the Choose the Base drop-down menu. Select either of the two following options:

• Sales to Expenses
  • Adjust Sales
• Expenses to Sales
  • Adjust Expenses

You can then adjust either the Sales or Expense projections by sliding the bar on the right-hand side as a percentage value of growth in those two specific areas.  At the bottom, you will be able to hand select which months the financial modelling will affect.

Plan a Project

• Contact Name. Select the name of the third party / business / institution that is associated with the project. You will be able to either:
  • Pick from an existing contact or vendor; or
  • Enter a new name.
• Project Revenue. You may either use the slider to specify this project's expected revenue or enter it directly by clicking on the displayed project revenue value in figures. For example, we have entered $25,000.
• Chart of Account. This should be the chart of account that the project revenue would fall under. In our example, we have selected Sales of Product Income.
• Project Cost. This will be based on the projected costs of the project. You can enter the value via the following: 
  • Value. The number you enter here will be taken as a flat monetary value.
  • Percentage. The number you enter here will be taken as the percentage value of the total project revenue.
• Chart of Account. This should be the Chart of Account that the project cost would fall under. In our example, we have selected Material Cost.
• Repeat Every <value>. Enter a numeric value for the repetition frequency. In the same field, select the frequency period from any of the following values from the dropdown control. (When you select the frequency period as Weekly or Bi Weekly, the system will pop-up another control that lets you select the specific day(s) of the week when the repetition will occur).
  • Daily
  • Weekly
  • Bi Weekly
  • Monthly
  • Semi Monthly
• End Date. Enter the end date for the project if it is not open-ended, else retain the default value of None. Possible values for this field are: 
  • None (open-ended -- nothing to select)
  • After <numeric value> (number of occurrences)
  • By (select date from date picker)

Hire/Release an Employee

Hire

• Employee Name. Enter the employee's name.
• Start Date. Pick a start date for the candidate's employment.
• On-boarding Cost. This value could be any one-time cost that incurs during the onboarding of this employee. You may either use the slider to specify this cost or enter it directly by clicking on the displayed onboarding cost section. In our example, we have entered $2,500.
• Chart of Account. This should be the Chart of Account that the onboarding cost would fall under. In our example, we have selected Other Business Expenses.
• Employee Wages. You may either use the slider to specify this employee's salary or enter it directly by clicking on the displayed salary value section. We have entered $4,500 as this value in our example.
• Chart of Account. This should be the Chart of Account that the employee's salary would fall under. In our example, we have selected Wages & Salaries.
• Benefits. You may either use the slider to specify this employee's benefits or enter it directly by clicking on the benefits section. A couple of points to keep in mind here: i) this value is always expressed as a percentage of Employee Wages; and ii) the maximum possible value for this field is 30%. In our example, we have entered 15% as the value.
• Chart of Account. This should be the chart of account that the benefits would fall under. In our example, we have selected Employee Benefits.
• Repeat Every <value>. Enter a numeric value for the repetition frequency. In the same field, select the frequency period from any of the following values from the dropdown control. (When you select the frequency period as Weekly or Bi Weekly, the system pops up another control that lets you select the specific day/s of the week when the repetition will occur.)
  
  • Daily
  • Weekly
  • Bi Weekly
  • Monthly
  • Semi Monthly.
• End Date. Enter the date for termination of the employment if it is not deemed as continuous employment, else retain the default value of None. Possible values for this field are: 
  • None (open-ended -- nothing to select)
  • After <numeric value> (number of occurrences)
  • By (select date from date picker)

Release

The Release Employee functionality is available as a separate tab on the same screen as that for Hire Employee. The only two options that you need to select are:

• Employee Name. Select the current employee's name from the drop-down menu.
• Predicted Salaries. The salaries considered for this projection. This defaults to the next twelve months. Use the checkbox against each month to deselect the salaries from the projection.

Plan an Asset Purchase/Rent/Sale

Buy

• Name. Select the name of the third party / business / institution that wants to buy the asset. You may either:
  • Pick from an existing contact or vendor; or
  • Enter a new name.
• Payment Mode. The payment method may fall in either of the two following options:
  • Installment. The payment will be laid out across multiple installments.
  • Full Payment. The payment will be done in one lump-sum.
• Asset Cost. You may either use the slider to specify this asset's cost or enter it directly by clicking on the displayed asset cost section. In this example, we have entered $2,150.
• Chart of Account. This should be the Chart of Account that the asset purchase would fall under. In our example, we have selected Furniture & Fixtures.
• Number of Installments. You may either use the slider to specify the number of installments for this asset's payment or enter it directly by clicking on the displayed number of installments value section. We have entered 5 as this value in our example.
• Annual Percentage Rate. You may either use the slider for this or enter this value via the keyboard by clicking on the displayed rate to the far right of this field. In our example, we have entered this value as 1%.
  • Also select the rate type, which could be either of the following two values:
    • Flat
    • Reducing
• Installment Start Date. The date when the first installment for the purchase is expected to be paid. Use the date picker control to select the start date for this payment.
• Installment Frequency. This specifies whether the installments are paid:

• • Daily
  • Weekly
  • Bi Weekly
  • Monthly
  • Semi Monthly
• Freight & Instl. Cost. This is based on any projected freight and installation costs. You can insert this by entering the:
  • Value. The number you enter will be taken as a flat monetary value.
  • Percentage. The number you enter will be taken as the percentage value of the total project revenue.
• Chart of Account. This should be the Chart of Account that the freight & installation cost would fall under. In our example, we have selected Postage & Courier.

Rent

• Name. Select the name of the third party / business / institution that wants to rent this asset to. You may either:
  • Pick from an existing contact or vendor; or
  • Enter a new name.
• Rent Amount. You may either use the slider to specify the rent amount or enter it directly by clicking on the displayed rent section. In this example, we have entered $1,550.
• Chart of Account. This should be the Chart of Account that the rent amount would fall under. In our example, we have selected Buildings.
• Freight & Instl. Cost. This is based on any projected freight and installation costs. You can insert this by entering the:
  • Value. The number you enter will be taken as a flat monetary value.
  • Percentage. The number you enter will be taken as the percentage value of the total project revenue
• Chart of Account. This should be the Chart of Account that the freight & installation cost would fall under. In our example, we have selected Fixed Asset Furniture.
• Repeat Every <value>. Enter a numeric value for the repetition frequency. In the same field, select the frequency period from any of the following values from the dropdown control. (When you select the frequency period as Weekly or Bi Weekly, the system pops up another control that lets you select the specific day/s of the week when the repetition will occur.)
  
  • Daily
  • Weekly
  • Bi Weekly
  • Monthly
  • Semi Monthly
• End Date. Enter the end date of the rental agreement if it is not a continuous lease, else retain the default value of None. Possible values for this field are: 
  • None (open-ended -- nothing to select)
  • After <numeric value> (number of occurrences)
  • By (select date from date picker)

Sell

• Contact. Select the name of the third party / business / institution that wants to buy this asset. You may either:
  • Pick from an existing contact or vendor; or
  • Enter a new name.
• Asset Amount. You may either use the slider to specify this asset's sale amount or enter it directly by clicking on the displayed asset section. For this example, we have entered $6,160.
• Chart of Account. This should be the Chart of Account that the asset sale would fall under. In our example, we have selected Furniture & Fixtures.