Mago.net - Forecast Accounting

Forecast entries look like accounting entries, but they refer to future transactions, like for example the monthly rate of quotas that are usually posted at the end of the year.

Documents to be received

Forecast entries can also be used to post documents to be issued and to be received, in order to create the payment schedule in advance or only to get a simulation of the VAT settlement.

When forecast entries are no longer temporary entries, proper procedures transform them into actual accounting entries, releasing the accountant from repeating the posting of all data in the actual accounting.
 

The main function of forecast entries is to update forecast account balances, that together with actual balances can show a preview of how accounting balances will appear when forecast entries become definitive entries.

Simulated balance

You can get a simulation simply by printing either a balance or a ledger card, including only or also forecast entries.

Documents to be issued and to be received allow to get a tax simulation, moreover forecast entries can be grouped in order to print accounting simulations.

If the Analysis and Controlling module is present, forecast analytical entries can be generated in order to update forecast balances on cost centers, jobs and product lines and to get simulations in analytical balances too.

Forecast analytical entry linked

The integration with the Fixed Assets module is reached with the posting in forecast accounting of depreciation quotas due at a certain date in the financial year.

Depreciation forecast ledger posting

As they have a great influence in the profit or loss calculation at the end of the year, posting quotas in forecast accounting helps the management to check at any time the real balance trend.