Forecast based on existing assumptions and relationships in your models using The Clockwork Balance Sheet
The new Balance Sheet tool is a way for companies to make accurate predictions about their finances, leading to better decisions and outcomes. It makes these predictions using information and assumptions already in your account, and it can be used to see how the company’s finances have changed over time, as well as how they’re expected to change in the future. This allows for better decision-making in real time, without relying on spreadsheets.
How does is work?
The balance sheet will automatically forecast each account based on existing assumptions and relationships in your models, giving you unprecedented visibility into your past, present, and future all in one place. Now you can prepare insanely accurate 3-way forecasts in minutes, without touching a spreadsheet.
Benefits & use cases
- Forecast purchases & COGS: Manufacturers and retailers can now forecast inventory purchases and link COGS assumptions to the balance sheet, helping them to streamline inventory planning and make better decisions in real time
- Deferred revenue & prepaid expenses: Companies with deferred revenues and prepaid expenses can now link their assumptions to the balance sheet to automatically forecast and track the accounts as they fluctuate
- Loans & fixed assets: Build accurate forecasts and tracking around loans and fixed assets, so you can stay on top of the financing and investing activities driving growth
To learn more about how Clockwork helps small businesses realize and work towards a better financial future, create your account to start a free 14-day trial (no credit card required). Connect your QuickBooks Online or Xero account to create your first financial model in minutes.
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