The Experiments®️ functionality allows you to stress test financial statements and enter management accounts or forecasts and is included in Silver and Gold subscriptions.
To enter experiment mode, click the Experiment button from any screen.
You will then be taken to the Summary Accounts screen which is in edit mode.
Stress Test
Click into an editable cell and change the figures as required. Press Enter to save your changes.
Add Blank Period
Click the plus button to add a new period – follow the instructions in the pop-up to set the length of the period.
Duplicate Period
Use the options button above each period-end to add a duplicate period.
Delete Period
Use the options button above each period-end to delete a period.
Quick Forecast
Use this 1-click option if you want to see how the company would look if it reported the same Retained Profits/New Income in the next period. The effect in the Balance Sheet is to add the new period’s retained profits to Shareholders’ Funds and Cash.
- Edit Exchange Rates - use the options button above each period-end to change the exchange rate
- Currency - use the currency options button on the top right-hand corner to switch between Reported Currency, EUR, GBP, USD
- K’s Thousands - use this option button on the top right-hand corner to present the figures in Units, Thousands or Millions
- Exit Experiment - click to leave the current experiment
- Change Name - by default the name is ‘Experiment’, click to change
- Share - use the blue Share button to allow others within your organisation to access this experiment. View shared experiments by clicking on the My Data tab at the top of the screen.
- View previously saved experiments - click the My Data tab to navigate to the list of all available experiments in the system or use the User Data option on the navigator to find experiments related only to the current company.
- Full Excel - click to export all the figures/data to Excel
- Custom Excel - use the drop-down arrow next to ‘Full Excel’ to customise your data selection of the data fields you would like to export to Excel
Tips on Experiments
- Press Enter when you have finished editing a value – the impact of the change is immediately calculated and the H-Score® graph updated.
- There is currently no ‘undo’ function – all changes overwrite previous entries.
- Use the ‘Switch to Reference’ button to view the original data.
- If you are entering a new set of accounts, start by inputting the P&L/Income Statement.
- When editing the P&L/Income Statement, decide if you want changes in the Retained Profits to flow into the Balance Sheet. If you DO want these changes to have a further impact on the Balance Sheet, tick the box that appears underneath the H-Score graph. The change in Retained Profits in the P&L/Income Statement is added to Shareholders Funds and Cash.
- Interims: if you want to remove an interim/quarterly period and just look at the next full year, simply follow the instructions to delete a period and then add a new period.
- Use the arrow next to the Profit & Loss/Balance Sheet/Cash Flow headings to hide these sections if required
Have you seen our Video Tutorial on how to create a Experiment?
