Entering fixed amount revenue

When forecasting revenue for a business, especially one that has predictable income streams, choosing the "Fixed Amount" option within the Finance Forecasting module can be incredibly effective. This method is ideal for revenues that remain constant over a period, such as lease payments or contracted services.

This revenue type allows you to enter earnings that remain constant over a set period, making it perfect for incomes that do not fluctuate, such as rent from property leases or interest from investments.

Adding a Fixed Amount Revenue:

1

In your financial forecasting tool, navigate to the Revenue tab and click on the Add Revenue Stream option:

2

A pop-up will appear. Enter the Revenue Stream group title, then click on Save & Next.

3

After saving the group, click on the Add Revenue Item button to begin entering individual revenue sources within that group.

4

A forecast form will open. Here, add the name of the revenue stream.

Here are 5 ways to forecast revenue streams. Select the Fixed Amount option.

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You can add your revenue on a monthly, quarterly, or yearly basis.

Constant Amount: Use this if your revenue does not change over time.
Varying Amounts Over Time: Choose this if your revenue will increase or decrease. Specify the percentage variation and the frequency of these changes.

Here, in this case, you may select the Constant Amount as revenue is fixed.

6

Enable settings for sales tax and refunds as needed based on your business requirements.

Sales Tax Collection: Enable this if you are required to collect sales tax on this revenue stream.
Refunds Tracking: Activate this if there's a possibility of issuing refunds, such as for unused rent.

7

Set the start and end dates for when this revenue will be applicable.

Once all information is entered, click Save to finalize the settings.

8

After saving, a forecasted Excel sheet will open where you can review and make any necessary adjustments to your forecast.

Editing or Deleting a Revenue Stream:

To Edit an Existing Revenue Stream:

1

Within a Revenue group, near the finance item, click on the pencil icon to edit:

2

A forecast sheet will display, allowing direct edits, or click on the edit button to enter the forecast form for detailed modifications.

In the form that will appear, you can click on any input fields that you wish to edit:

3

After making the necessary changes, click save in the form to finalize them.

To Delete a Revenue Stream:

1

Go to the Revenue Group section and click on the delete option for the stream you need to delete.

2

A forecast sheet will appear. To start editing the revenue stream item, click on the Edit option:

3

To delete an individual revenue item within a group, go to the respective revenue group, click the three-dot menu next to the item, and choose Delete Item.

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