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Defining and Entering Income and Expenses in Ultimate Business Planner

Posted by Brandy on November 24, 2010

The first step in preparing your financial statements is to list your projected income and expenses. Our business planning software Ultimate Business Planner is so flexible that it lets you define your income and expense categories, so they are specific to your company and your needs. When defining your income categories, make sure to enter information for Cost of Goods Sold (COGS), such as material, labor, or other expense involved in making your product or providing your service. You’ll also be able to enter a description of your income and expense categories.


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To enter your income and expenses into our business planning software, you can type it in manually for each month, import historical data from QuickBooks, or use an Annual Growth Factor calculation function to increase the amount each month by a particular percentage that you choose. For example, if you enter the amount of income in January and wish to automatically calculate a three percent increase every month for the next 12 months, you could select the cells for the remaining 11 months, choose the Annual Growth Factor function, and enter “3” as the value in the Percentage text box.

You’ll be able to view reports and graphs for your income and expense projections, plus this information will be used to produce your other financial statements, including profit and loss, balance sheet, and cash plans.


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