If you entered any kind of data in ThinkOut, either by bank connection or manual input, the app will build an automatic budget for you. However, you can edit the values to match your actual plans. Start adding income and expenses estimates for the coming months and monitor the percentage achieved month by month. Change your budget as many times as you need to reflect the reality of your business.
Change automatic estimates
ThinkOut calculates a series of estimates based on past transactions, which you can easily change. Go to the category you want to change and click on the cells to make edits.
Add new estimates
To add new estimates, click Add Forecast and fill in the fields from the form.
Tick the Use value for forecasting box only if you want your forecast to be taken into account for the next few months as well. If it is a one time value (e.g. a loan, an investment, an equipment purchase), then uncheck that box.
To make it easier to track, ThinkOut helps you to easily spot the edits you've made.
The flag marks an edit. The colored flag is an estimate that is also used for the following months. The blank flag is a one time estimation, which applies only to the month for which it is assigned.
If you only want to delete an estimate for a specific month, then click on that cell and enter the value 0 (zero) in the Amount field from the form.
If you want to delete all manually edited estimates, click Clear forecasts and confirm the action. This will replace your manually added forecasts with the initial forecasts, automatically calculated by ThinkOut.
Keep in mind that the Budget section is structured on two levels: estimated and realized.
Estimated = automatically calculated values, modified or not by you;
Realized = bank and cash transactions. You can also choose to include cash flow forecasts here.
If you activate the Include forecasts button, then ThinkOut will also include your cash flow forecasts in your budget, if any.
You can choose to set up your budget for a period of up to one year.
If you need, you can download the budget in Excel format. Click SHOW MORE, then the Export button, and confirm the action.