Smarter forecasting for Australian accountants.
Combine the flexibility of spreadsheets with the structure of automated forecasting to create accurate, easy-to-review reports.
The Problem
Accurate forecasts are time consuming
- Junior team members lack the experience or knowledge to easily build forecasts- Senior team members end up building them which isn't scalable- You end up reverting back to a spreadsheet for flexibility which is time consuming- Sometimes you have to turn down the work because you don't have capacity
Existing tools are not flexible
Do you get frustrated when your current options:- Don't deal with the correct cash timing of GST, PAYG and superannuation?- Still require workpapers to be prepared in spreadsheets?- Lack version control and only allow for one live forecast?
Spreadsheets lack control
With the existing problems, you end up reverting back to spreadsheets. They provide you with the flexibility to create whatever you want, but you find that they are:- Too easy to break- Hard to review what someone else has done (crazy complex formula anyone?)- Require too much effort to get actuals in from Xero- It takes a long time to get them looking nice for clients
The Solution
Flexible forecasting
We know that some accountants want to build a forecast using Xero data as a starting point, others want to use drivers to forecast. Formulr allows you to do both.Build on top of prior period Xero data and add a % or $ increase for a quick and simple output. You can still make manual overrides on cells as well as setting timing rules for added flexibility.
Prefer to build out a complex driver based forecast?Create complex calculations using simple, easy to review formulas that are consistent across all account lines.Edit the cash timing of each account line to allow for different payment scenarios while still keeping the correct accrual reports.
Accurate payroll timing
Existing tools don't accurately deal with payroll information like the cash timing of BAS, IAS and superannuation. You also need to put in an estimate of employee PAYG which constantly changes when employees come and go.Formulr has a built in PAYG calculation which mirrors the ATO calculation as well as setting options depending on whether you have quarterly or monthly super (including paying the June payment early), tax agent extension v client lodgment and specific cash timing for weekly and fortnightly payroll compared to monthly.
Review with ease
Empower your team to build the first draft while still making it easy to review before presenting to clients.Using a consistent method to build the forecasts means no clunky (or broken) formulas to review.Any manual overrides are automatically highlighted and comment threads on cells allow for context to remain within the sheet.View driver assumptions in a single click to get a quick overview of complex calculations.
Interested?
If these problems resonate with you, we welcome you to join our waitlist for access to the beta along with a small group of other accounting firms around Australia.
Join our waitlist
Thankyou!
We will contact you when a beta spot opens up