Castaway is logically designed to follow accounting principles when projecting your 3-way model.

The concept of Elements and In-built Elements created is further explored in Element Types

As you review your Cashflow Report, you may want to understand how certain accounts such as the Opening & Actuals General Trade Debtors and General Trade Creditors are being calculated in the projected months, and perhaps even change any assumptions.

Introducing the Balance Sheet element

The Balance Sheet element is designed to allow you to set when your forecast of certain Balance Sheet receivables and payables Actual balances are due.

This allows you to control your projected cash flow so that your model reflects your latest values. 

Accounts that the Balance Sheet will allow you to influence include:

  • Trade Debtors
  • Trade Creditors
  • Payroll Withholding
  • Pension
  • Employer Taxes

Navigating to the Balance Sheet element

Navigating to the Balance sheet element.gif

To access the Balance Sheet element to begin adjusting the settings, navigate to Forecast > Element Settings and scroll to the bottom of the Chart of Accounts section OR minimize all the section headings until you locate the System heading.

Click on the Balance Sheet element to begin adjusting your cashflow settings.

Balance Sheet settings

Expand on the account you'd like to adjust the cashflow setting for. The cashflow settings available are either:

  • Enter Receipts/Payments: To manually enter your collection amount for each period
  • % Spread: To set the collection or payment based on a percentage of the balance

The cashflow terms you select here can affect the cash balance of your forecast and improve or worsen the cash position, so take care to select the right input to get the most accurate outcome for your cash collection/ payment.