FAQs/FINANCIALS

How do I change the accounts receivable and payable periods?
Click on the Interview icon, then on the Navigate button.
Double-click on Receivables or Payables in the outline.

How do I set my fiscal year to begin in a month other than January?
The Interview section includes questions relating to the beginning year and beginning month of the plan. After you have answered these two questions all financial statements and worktables will reflect these dates. You can return to these questions at any point and change the answers. The financial statements will be updated appropriately.

How do I set a unit price for a service?
Because a service does not involve a physical unit with which you can associate a cost, it is less obvious how to make sales projections. We would recommend that you determine what the average value of your service will be and enter that as the unit price. For example, if you offer a yard service that might range from a simple yard mowing to tree trimming and landscaping, you must estimate what your income will be from a typical customer. Similarly, if you are a consultant, you would estimate the average you would bill a customer and enter that as the unit price.

How do I change the label of a row in a worksheet?

1. Choose Unfreeze Titles from the Options menu.
2. Select the label you want to edit.
3. Choose the Cell Protection command from the Format menu. A dialog box will be displayed with the Locked indicator checked on. Click on the Locked indicator to turn it off and click the OK button.
4. Make the appropriate changes.
5. Click in cell B2 and choose Freeze Titles from the Options menu.

Be sure to change all the worksheets that have the same category titles.

How do I add more expenses to my Income Statement?
Use the Create Detail command in the View menu to add as many expense categories as you need.

How can I create detail in a worksheet?

1. Display a worksheet, and select the range of cells (within a single row) for which you wish to create detail.
2. Choose the Create Detail command from the View menu. A new worksheet will be displayed with a labeled column for each of the selected range of cells.
3. Enter as much detail as desired for each labeled column and sum the detail on the bottom line.
4. Choose the Save As command from the File menu.
5. A dialog box will be displayed specifying a range of cells to be exported into your primary worksheet. If these are not the cells desired, correct the cell range. Click the OK button.

Anytime you wish to change the data for this cell range, double click on the cell and the detail worksheet will be displayed.
At the time you create the detail worksheet, an entry will be placed in the outline just below the entry for the primary worksheet. It will be included in the printed plan unless you choose to remove it from the outline.

How do I remove a detail I created?
This requires that you remove the link between the primary worksheet and the detailed worksheet using the following steps.

1. Select the cells in the row for which detail has been created. (Be sure that you do not include the Total column at the end of the row.)
2. Choose the Cell Protection command from the Format menu. A dialog box will be displayed with the Locked indicator checked on. Click on the Locked indicator to turn it off and click the OK button.
3. Select the cells in the row for which detail has been created. (Again, be sure that you do not include the Total column at the end of the row.)
4. Choose the Clear command from the Edit menu. Choose the Clear Only Content option, and click the OK button.
5. Finally, when you created the detail, an entry for the detailed worksheet was placed in the Plan Layout outline as a sub topic of the primary worksheet. You should remove this entry. See Editing the Plan in the Help file for details on removing a topic.

How do I change the currency symbol?
For both text and worksheets, the currency symbol is set in the Regional Settings of your Control Panel. Click the Start button, then select Settings, then Control Panel, and double click on the Regional Settings icon. Click on the Currency tab and select the desired currency symbol. Click the OK button. You may have to restart your computer to enable application programs to use the new currency symbol.
For charts, the currency symbol can be changed by:
Click on the Charts icon. Display the chart you wish to modify.
Click on the Worksheet icon in the toolbar. Change the $ sign to the appropriate currency symbol. Click on the Save button. Click on the Worksheet button again.
Follow these same steps for each chart you want to change.
If a cell in a chart is generated by data from a financial worksheet, it will use the currency symbol set for the worksheet.

How can I use my own format for the Cash Flow statement?
The Cash Flow Statement is generated using information from the Income Statement as well as your answers to the financial projections questions. To insure the integrity of the projection, the format of the Cash Flow statement cannot be modified.
If you want a different format, you can create your own topic. See Editing the Plan (in the Help file) for details on creating a topic. However, if you create your own Cash Flow statement you will also have to create a Balance Sheet statement since much of its information is drawn from the Cash Flow statement.

How do I change the color of a cell in a worksheet?
Highlight the particular cell(s), choose Cell Color from the Format menu, and then choose the desired color.

How do I export a worksheet to an EXCEL worksheet?

1. Display the worksheet and select the data cells to be copied.
2. Choose Extract from the File menu. Select the file name and path where you want the extracted data to be written. The file will be written in WK1 format.

You have the option of extracting just numeric values for each cell or formulas as well as numeric values for each cell.
You may also import data into the worksheet that has been extracted from an EXCEL worksheet. The file to be imported must be in WKS, WK1 or WK3 format. To import the data:

1. Position the pointer on the cell where you want the imported data to start.
2. Choose Import from the File menu. Select the path and file name of the data to be imported. The program will import the numeric cell values (not the formulas) into the worksheet. Any cells that were previously populated in the range of the data being imported will be overwritten.

How do I get rid of the word "ERR" in the cells in my financial statements?
The word "ERR" indicates a formula failed. This is usually caused by entering zero in the depreciation period for Building and Equipment. We would suggest revising the depreciation to the default of 39 and 7, which are the standard rates.

How do I insert a row in a worksheet?
We recommend using the Create Detail feature rather than inserting rows. Inserting rows could cause problems with the built-in formulas, such as the totals. To read more about the Create Detail option, go to Help, Spreadsheet Commands on the Contents tab, and then the entry on Adding Detail to your Spreadsheet.

How do I delete a row in a worksheet?
Removing rows could cause problems with the built-in formulas. We recommend you hide the rows rather than delete them.
Select the row, choose the Row Height command from the Format menu, and check the Hide Row(s) option. This will hide it from the printout.

How can I modify the worksheets?
A new worksheet that you have created can be modified any way you like.
The original worksheets we have provided for you are interlinked and are protected from modifications that could harm. You can, however, hide portions that you do not need and add detail that is unique to your business.
Where do the numbers come from listed on the balance sheet as Other Assets and Other Short Term Liabilities?
The definition of a balance sheet is that the assets must equal (or be in balance with) the liabilities. If the information you have entered results in an imbalance, the difference between the two will show up in one of these cells. This may be because you have entered an asset with no associated expense, or you may have entered expenses with no resulting asset.

How can I change the values in the protected cells of the financial statements?
Some cells are automatically generated for you. These cells hold interrelated formulas. You cannot enter data directly into these cells.
If you feel there is something incorrect or missing in one of these formulas, you should email the details of your request to the support desk.

What does a circular reference error message mean?
This error message occurs when you have created a formula that uses the contents of the cell for which you are creating the formula, in the formula.
For example, if a formula, created for cell B20, was stated as +B10-B30 and you got a circular reference error, then cell B20 is either being used in the calculation of the value of B10 or of B30.

How can I get a more detailed breakdown of salaries in the Income Statement?
You have up to 4 rows to list categories. You can change the labels on these rows if you would like by using the unfreeze/freeze title options.
If you need more than 4 categories, use the Create Detail feature. This will allow for you to list as many specific titles as needed. The detailed worksheet information will tie into the original, as well as print out after the specific outline entry. To learn more about this feature, go to Help, the Index tab, Spreadsheet Commands, and the 'Adding Detail to your Spreadsheet'.

How should I enter the expense for a lease of equipment or software?
This expense would normally fall under the Operating Expenses category. If you would like to show the detail for this item you may use the Create Detail command.

How do I insert a row in a general worksheet?
To insert a single row, select a cell in the row just below where you wish to insert the additional row. To insert multiple rows, begin with a cell in the row just below where you wish to insert the additional rows, and select downward the number of rows you wish to insert.
Then, choose the Insert Rows/Columns from the Edit menu. A dialog will allow you to choose from the option of Shift Cells Down or Shift Cells Right. Click on the OK button.

How do I insert a column in a general worksheet?
To insert a single column, select a cell in the column just to the right of where you wish to insert the additional column.
To insert multiple columns, begin with a cell in the row just to the right of where you wish to insert the additional columns, and select to the right the number of columns you wish to insert.
Choose the Insert Rows/Columns from the Edit menu. A dialog will allow you to choose from the option of Shift cells Down or Shift Cells Right. Click on the OK button.
Why does some portion of accounts receivable show up as income in the first month?
There is an average of 30.41 days in a month. If you specify a 30-day receivable period, the portion from the first day of the month can be collected as income in the same month. You can avoid this by entering a receivables period of 30.5 (which will be displayed as 31) and the income for one month (in the Income Statement) will appear as cash for the following month (in the Cash Flow Statement).

How can I have a loan starting late in one year with payments not due until sometime in the next year?
You must specify payments beginning in the same year as the loan.

How do I change depreciation rates?
You can change the depreciation rates, however, you should check with your accountant. The 39 and 7 are standard rates recognized by the IRS.
To change one of the rates, click on the Interview icon and click on the Navigate button. The outline will include a major topic labeled Depreciation. Subordinate topics will be Buildings and Equipment. Double click on the one desired, modify the depreciation period and press the Enter key.
Can I have more than two depreciation rates?
While the IRS currently allows three rates, 5, 7 and 39 years, the distinction between what falls in the 5 year rate and what falls in the 7 year rate is often confusing. We recommend that for your projection you take the conservative approach and include all of your equipment under the 7 year rate. Remember this is a five-year projection and it is unlikely you can be exact enough on equipment purchase projections for your depreciation schedule to have a big impact on your profit expectations.
However, you can add a row under depreciation that you can title Other Depreciation and then use the Create Detail feature.

How do I use the Customer Deposits feature?
The Customer Deposits (in the Financials section) should be used if a customer is giving you an advanced payment for a product or service that you have not yet provided.
Specify the cash income in the time period that you expect to receive it.
Make sure that you are not entering the figure(s) twice. Look at Row 11 of the Year 1 Income Statement. (Don't enter figures directly into these cells, as they are carried over from previous input.) You do not want to include the advanced customer deposits/payments into Product/Service Sales - row 5, as this would account for the monies twice.

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