Sometimes I get a circular reference in my EZQ file. What should I do?
A circular reference usually comes from the fact that you have a differential between your last fiscal year end and the start date of your project of more than 364 days. For example, if you wish to start your financial forecasts on January 1, 2018, your LAST fiscal year end is December 31, 2017 and not 2016.
I want to do my first forecast with EZQ. How do you suggest me to start with?
This means that your balance sheet does not balance. Of course, when you enter the data of your opening balance sheet, this “?” will appear as long as it does not balance. Later, if it is still the case, you can refer to the end of the user guide which explains why your balance sheet could be out of balance.
I would like to change or add formulas for my personal needs. How can I do?
EZQ deliberately blocks all color boxes so that you do not break important links between formulas and your file will be unusable. Also, financial stakeholders can trust the data because it is impossible to falsify software information’s. At the very end of the software, you have blank pages that can be used to build a presentation as you want by setting your own formulas. Some customers sometimes use them to build a dashboard in which they connect the forecast or actual data of the company.
Sometimes I get home financial statements from my clients and they are not very representative of their reality. Do I just have to trust their latest tax statements?
EZQ is designed to avoid trying to predict what has really happened in the past of the company. It would be more beneficial to work with your client to put his books in order and get on track. Also, your client will be able to obtain representative financial statements for each of the following months. If your client’s financial statements are not representative of reality, how will he or she be interested in following his finances? EZQ works in management accounting, it is essential to use the company’s house financial statements to extract the data when we want to compare the forecast with the reality.
How can I add balance sheet or earnings accounts?
EZQ was built in the principle where the customer had to follow up on 2 pages only. One for the results and one for the balance sheet. Our experience shows that if you use multi-page financial statements … Nobody will do monthly follow ups. Follow-ups will be too difficult and will not reflect an overall image of the company. You can group multiple similar accounts in one category. However, you can rename all accounts with white boxes in the opening financial statements.
Is it necessary to perform real follow-ups?
Actual tracking should be the main reason you buy EZQ. Many companies and organizations use it to obtain financing. Why get financing if you do not follow your forecasts and if you are unable to repay your creditors? The monthly follow-up will tell you 17 months in advance what’s coming next … Several companies look at their fiscal statements about six months after their fiscal year end and wonder what needs to be done to improve their situation. By carrying out the monthly financial follow-ups, you will have already put your game plan in motion.