Model & Plan Business Performance

Modify Plans

Once you have created your model and imported data, MYGIDE will extrapolate future performance.

Some numbers will look reasonable, others not.

Pick the one, which is utterly wrong.

Step 1 Check what formula is used. Some alternative ways how to do that:

  1. Click Account Management and drag the window to your second screen, so that you can see the main data grid on one screen and Account Management on the second screen.
    While moving the cursor in the main data grid, Account Management will automatically synchronize and show select account’s formula settings.
    This is also a perfect shortcut to skip Step 1 in Add Formula endeavours.
  2. In the main window click Account Properties and under Account Default Formulas you will find your answer.
  3. In the main toolbar click Coloured Cells and pick Cell-type View. Each account will reveal formula category’s colour. See Add Formula chapter.
  4. The formula used is always displayed in the footer of the application, on the right.

If it is Subtotal, Result, General, Special formula, Consolidation or custom formula (green, blue, purple, red colours) you need to look further because all these accounts are unlikely to be the cause of unreasonable number. Accounts with these formulas are typically frame / aggregate accounts that have precedent accounts driving their value.

What we are actually looking for is accounts that use modelling formulas, and accounts that have no formulas, i.e. Modelling Accounts and Input Accounts. Orange and Grey colours.

Step 2 If the accounts with the wrong number are neither Modelling Account nor Input Account click Parameters Account while keeping the cursor still on the account in the data grid. This will show you all parameter accounts that formula uses (in Excel it would be Precedents). Keep clicking until Modelling Account(s) and Input Account(s) is revealed.

Step 3 Change the number you do not like. Some alternative ways how to do that:

  1. Manually modify the number. Just click into the cell and change it.
  2. Manually modify the trend

Alternative 1 Click Auxiliary Rows while the cursor is still on the account in the data grid.  Modelling (Auxiliary) Row is displayed and you can alter the trend by applying your own assumption.

Alternative 2 Click Modelling Details .  A narrow modelling window opens at the bottom of the data grid. Move your cursor in the main data grid and the modelling window will synchronize and always display details for the selected account.

Repeat Steps 1-3 until happy with the results. In some instances you may want to reconsider formulas being used. Just change them at any time.

Resetting Formulas

Resetting Formulas clears any manual modifications you have made. It works on selection of cells, entire accounts or models. Triggers that do that are available in Context Menu only. If you wish to reset entire model call out the context menu in the Model navigation section, while hovering above the model you wish to reset.

Update Model

As you move on with your business, your model needs to be brought up-to-date.

Step 1 Import the latest historical data. See Add Historic Data

Step 2 Click Timeframe and change Current Year and Current Month. Your Model(s) will then be updated.

If you do not like how the new historical data affected your business plans modify them.

In order to see a combination of historical data and forecast data in the current year’s Year-End column, make sure you have checked the current year’s M box in the Timeframe’s Year Settings.

If you wish to make the Update Model endeavours for more models in one go, change Apply changes to from Current Model to Bundled Models in the Timeframe’s Bundled Models.

Budgeting

There are two alternative ways how to approach Budgeting

Alternative 1

Step 1 Check the next year’s M box in the Timeframe’s Year Settings to extend your forecasting by 12 months. See what results MYGIDE extrapolates and adjust as per your preference.

Step 2 Once happy with the numbers, copy them to next year budget. Go to Home>Model Properties and press Copy Forecast into Budget (current year plus one).

Alternative 2

Step1 Change Data version in Timeframe’s Year settings from Forecast to Budget. This changes the default overall calculation and kicks in the budget layer. See what results MYGIDE extrapolates and adjust as per your preference.

Step 2 Once happy with the numbers, uncheck B in the next year’s B box in the Timeframe’s Year Settings. This freezes budget for the given year.

If you want the follow up changes to be reflected in revised budget, make sure to check B in the given year’s B box in the Timeframe’s Year.

Scenarios

If you like what you see on the screen you can save it as Snapshot for information and comparison purposes. This is not available with Green Starter Kit Edition

Step 1 Select Account(s) that you wish to keep for a future reference.

Step 2 Call out the Context Menu and pick Make Snapshot.

Step 3 Complete wizard

If you wish to snapshot entire models, call out the context menu in the Model navigation section.

Check Row Snapshots to see options for the see & compare Insights.

Table of Contents

Leave a Reply

Your email address will not be published. Required fields are marked *