The Reset to No Actuals feature is designed to make the next year budget easier. This works by saving your actuals as the budget figures to then allow to you extend the budget into next year using these figures as the basis for extend and amend.
1. Copy the actual forecast and save as a new forecast:
2. Open the copied forecast and select Reset to No Actuals
3. Select Yes to reset:
4. Then select Yes to keep your actuals:
5. Your forecast will revert back to budget mode, replacing your original budget figures with your actuals.
Once Actuals are reset:
All records will need to be checked depending on the methods e.g. % of records should be fine but memo drivers may change values.
All the forecast system records are going to change (e.g. GST, Debtors, Creditors, Bank, interest, tax etc) as the new figures will be factored in to the calculations.
Calculated Loans (Taken and Received) and Financed Assets will need the terms changed for 12 months less.
Manual loans, for example, will need to be reviewed carefully as the entries could differ.
The opening balance sheet is unchanged from the original so this will need to be updated.
To import the last actual balance sheet and paste into the new opening balance:
1. Go to the original budget and enter actuals.
2. Export the year end last balance sheet to clipboard then paste to excel.
3. Open the new forecast, go to Enter Opening Balances.
4. Reset the balance sheet so there are no values.
5. From excel in step 2, copy the balance sheet and select Import from Clipboard.
The retained earnings are going to change.
Income Tax needs to be checked as the Reset to No Actuals causes a recalculation of tax as well the tax payments.
Also for dividends which are manually entered.
To make a recalculation, change a sales record value, select a month and note the values. Enter 0 then tab off the cell, now enter the old value. This will force a recalculation.
From the Utilities Tab, run budget record recalculation
Now go to reports and the system records recalculation will run