Hey all
I have created a new Financial Model using the Wizard and imported a client's Xero account into this.
It looks like it has loaded in the opening balances, but there doesn't appear to be any historical transaction data at all through the model?
All the information looks pretty spot on in Xero classified between sales, overheads, assets and liabilities, it just doesn't seem to be picked up by Modano...
I've attached it to this post, please can someone help? I'm a fairly inexperienced novice with the system and am well and truly stuck!
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Hi Neil,
The Financial Model Wizard is very handy but we'd recommend following the steps in the Getting Started section of our resources - i.e. starting with the New Dynamic Template tool instead - as this approach supports all our content libraries and is closer to the traditional Excel approach to building a model so a little more intuitive.
Having said this, it looks like your issue here is simply that you've chosen a Monthly (forecast-only) time series instead of a Monthly, Historical & Forecast time series for your model, which means the only historical data in your model is the opening balance sheet.
To understand this, I'd recommend reading the Generic Financial Model user guide. The different time series structure available in these libraries are discussed in the Time Series section of this user guide.
If you're really serious about using Modano properly, you really need to work through the practical training and assessment exercises, which you can access via the Training section of your Modano account. Our team do all of these exercises in order - which takes around 20 - 30 hours - but if you're impatient or in a hurry you could start by doing only the Automation and Financial Modeling areas, which will make the key concepts very clear. And I can assure you that you'll save time on a net basis doing this training at the start rather than trying to work things out as you go without doing the training.
You can also purchase support credits and request a training/Q&A session with one of our team if you've got more money than time...
Hope this helps. M.
Hi Neil,
Quick follow up. I just checked that you've already completed the Automation training exercises, so it's just the Financial Modeling exercises you need to do to understand the issue you've raised here.
Hang in there!
M.