Define the system level account settings for Jirav to forecast your three way financials (Balance Sheet, Income Statement, and Cashflow).
Company Setup can be found from ⚙️-> Company and is where you can define system wide settings which are broken out between 5 categories: General, Accounting, Plans, Staffing & Manage Standard Account Categories. Configuring the settings under Plans is one of the key initial steps in configuring your Jirav model.
Update your COMPANY LOGO & COMPANY NAME. Your logo will appear in he top right navigation bar. Your company name will also appear in the top right navigation bar as well as in reports.
Be Aware: The SHORTNAME is a unique identifier used for your account by the Jirav team and it cannot be changed.
The settings within Accounting are preconfigured for you when your account is created, but some of the settings can be optionally adjusted as needed.
- FISCAL YEAR START and CURRENCY cannot be edited.
- ACCOUNTING METHOD can optionally be adjusted from Accrual to Cash.
- CLOSE MONTH will update automatically per your accounting system as long as your ACCOUNTING IMPORT is set to Automatic.
- ACCOUNTING IMPORT can optionally be adjusted from Automatic to Manual.
Did you know?
The CLOSE MONTH can be dynamically referenced throughout Jirav. For example, you can configure Dashboards & Reports to display data as of the Close Month.
There are several accounts in this section that should be configured to create the basis of your forecasted plan periods. An outline of the purpose, source, and extent of each of the system lines is below.
Account used to forecast the monthly base wages of employees. Salary is calculated as 1/12th of the annual wages of employees who are active for the period per the staffing table.
Helpful Hint: If you need to use multiple Salary expense accounts for the plan, you can utilize plan drivers to allocate from this account to others.
Account used to forecast your cash balance. Cash is result of all of the assumptions used to build your financial forecast. For example, a decrease in your Accounts Receivable balance is indicative of a customer paying an invoice, so you will see a resulting increase in Cash.
*Bookings module required
Account used to forecast the Accrued Revenue balance when revenue for a product is recognized before the billing occurs per the terms of the contract.
Working in conjunction with the A/R DELAY setting, this system account accrues and collects the forecasted revenue based on the delay selected.
If your company is pre-revenue and therefore there is not an accounts receivable forecast, this field can be left blank.
*Bookings module required
Account used to forecast the Deferred Revenue balance when the billing for a product occurs before the revenue is recognized per the terms of the contract.
This system account accrues period expenses as identified by the A/P ACCRUAL ACCOUNTS and relieves the AP balance as defined by the A/P DELAY selected.
The A/P ACCRUAL ACCOUNTS are typically all COGS & Operating Expense accounts less salaries & wages and non-cash accounts such as depreciation or bad debt expense.
Optionally choose to include (choose Yes) or exclude (choose No) an employee in the calculation for Headcount in the month of their termination. Defaults to Yes.
For employees with a mid-month hire and/or term date, optionally choose to prorate the calculated salary (choose Yes) or calculate the full month salary (choose No). Defaults to Yes.
Manage Standard Accounting Categories
Optionally rename the names of account groupings as seen in dashboards, reporting & planning tables. For example, Gross Margin is a system calculation that calculates Revenue less COGS. You could rename this to Gross Profit here and see the updated name reflect throughout your Jirav model.