Hi everyone, I am new in Modano, trying to figure it out, I like it but all that involves free form is kinda challenging. I really haven't be able to connect a free form module (Historical) to work with the forecast from the library. is still inconsistent and not working. I already went through all the resources in the training but I havent figure it out. Any other resource or advice to built models from scratch?
Thanks!
Natalia
Hi Natalia,
Freeform content in your modular workbooks is really something that should be used as a last resort - i.e. when there is no way to do what you're trying to do using modules and proper scalable content... Many people inadvertently create freeform content (e.g. freeform formulas) when first using Modano because they haven't yet figured out how it all works - i.e. modules, module components, category blocks, cell blocks, etc. It's all a bit overwhelming at first but makes a lot of sense once it 'clicks' if you hang in there...
I would strongly recommend that you work through the practical training exercises (which you can access via the Training section of your Modano account: www.modano.com/account/training), completing and passing each theoretical and practical assessment exercise before moving onto the next learning exercise.
If you're impatient, you can probably skip the Standardization, Review and Excel training exercises, but the Automation and Financial Modeling exercises are required if you really want to understand how to use, customize and create modular, scalable financial models - i.e. the Holy Grail of financial modeling. This may take you up to 20 hours to complete, which sounds like a lot, but you will quickly make up this time investment when you build your first few integrated financial models in record time. New recruits to our team do all the training, although they space it out over a couple of weeks to give each section time to sink in.
If you'd rather learn via osmosis, you can always purchase support credits and do a screen sharing session with one of our team. There's also a range of videos in the videos section of our website that you can check out.
Hope this helps. M.
Hi Natalia,
Further to Michael's comment. If you're trying to migrate into the modular system, it might be an opportunity to import the freeform historical content into the Historical Income Statement / Historical Balance Sheet to start your new modular model. It's a good place to get to a starting point and you'll be able to see the historical three-way cashflows and aim to reconcile back to your existing freeform model.
It's particularly useful investing the time upfront if you are using an accounting package like Xero or Quickbooks and want to leverage off of the automation.
Hope that helps!