Monthly averages are meh! - use forecasting rules to precision time known cash inflows and outflows
Step 1. Open 'Forecasting Rules'
For Quick Adjustments to dates and amounts:
- Date adjustments click on the date and edit the date section (for example - to change the event to say the 15th of the month vs. the end of the month)
- Amount adjustments edit the amount field (for example - ie: if a revenue has increased recently - so the 12 month average calculated is too low)
For Creating a New Rule or Adjusting the Forecasting Rule all together:
- Click 'Create Rule' for new Rule OR
- Select the three dots to open the Update Forecasting Rule
Step 1. Name the Rule
Pro Tip: Use a Name* that helps you identify the rule (like "bi-monthly payroll "or "annual insurance")
Step 2. Associate the Account
Select the Account from the drop down list
Step 3. Set the Date* including when, and how often the transaction repeats:
Date* - The date indicates the day the transaction starts, which can either be a future or past date.
To set up recurring transactions - Use Repeat* (ie: never, daily, weekly, monthly, or yearly) combined with Interval* (ie: Interval of 1 and Repeat Monthly means recurring every 1 month; interval of 3 means recurring every three months - or quarterly) and Days for specific Day(s) of the month (for example the 15 and 30th would repeat on the 15th and 30th at the interval set).
Note: Repeats frequency options are never, daily, weekly, monthly or yearly.
Note: Intervals of 1 is every 1 unit; 2 every 2 units (eg: months)...
Press 'Save' to exit the calendar function.
Step 4. Set the Amount (use minus for outflows) of each transaction
Step 5. Growth Rate is optional
Step 6. Press 'Save & Close'
Forecasting Rules are static. While Helm will auto-adjust the forecast - Review your rules whenever you know there are changes (like winning a new contract!)