What is the rolling plan?
We’ve done away with manual opening balances that came with building out your budget, and the first thing you’ll do is set how much of your Xero data you’ll use as your base for the "budget", or annual plan. This is your Actuals To point - like Actuals to Last Month.
You’ll have a single forecast for every farm. It flows through to each year - so something that’s accrued at the end of the year will automatically be in the next year’s cashflow.
Because you can choose how much data you want from Xero, you can build your budget to be as long or as short as you’d like.
For example, if you're an accountant and you’ve gained a client halfway through their FY. Go ahead and build out a budget for the rest of this year, and then a budget for next year that builds on top of that.
Revise your forecast endlessly - you’ll always be able to take a snapshot of what it looks like, and refer to that later.
Why did we build the rolling plan?
The main reason we built the rolling plan is for you to get useful reports out of Figured faster. It needed to be simpler & more flexible.
It also needed to be easier to understand for a variety of different people on the farming team. We want Figured to enable great conversations between the team, and get everyone more involved with the financial planning of the business.
Not everyone works on a 12 month cycle plan - the old budgets & forecasts were restrictive, especially if you were coming into Figured during the middle of your financial year.
With rolling plan, you can get started straightaway without the need to spend time that you may not have, on the initial budget.