Using Exl-Plan > Model-Building Procedure > Detailed Guidance on Generating Projections > Entering Prior-Year Income Statement & Opening Balance Sheet
The next step is to enter opening data into the prior-year income statement and opening balance sheet as follows:
| 1. | If desired, enter a summary of the prior year's income statement. Use the *Output > Income Statements menu command to access the Income Statements, go to column F which is reserved for last/latest year's actual or anticipated income statement results and enter values in the unlocked (cream, boxed-in) cells. |
| 2. | Enter the values in unlocked (cream, boxed-in) cells for the opening balance sheet (*Output > Balance Sheets). |
| 3. | After entering all the necessary opening values, press F9 function key (or the “C x” button) and make sure the opening balance sheet is balanced by viewing the row for CHECK balance sheets balance immediately below the opening balance sheet. If this does not show a zero opening balance, review values entered for the opening balance sheet. |
Once the opening balance sheet balances, use the *Tools/Setup > Calculate All & Check menu command to calculate and ensure that no calculation errors arise - see Avoiding Calculation Errors.
See Also:
Gathering & Entering Assumptions
Summary of Procedure for Generating Projections
Guidance on Entering Assumptions
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