Define the system-level account settings for Jirav to forecast your three-way financials (Income Statement, Balance Sheet, and Cash Flow Statement)
Company Settings is one of the first steps you'll take in configuring your Jirav account to forecast your financials. Customize system-wide settings across five categories from Settings ⚙️ > Company and switch between below sections:
General
Update your Company Logo and Company Name. Your Company Name will appear in the top right navigation bar as well as in reports.
Be Aware: The Short Name is a unique identifier used for your account by Jirav Support and cannot be changed.
Accounting
The settings within Accounting are preconfigured for you when your account is created, but some of these settings can be adjusted if needed.
- Fiscal Year Start and Currency cannot be edited.
- Accounting Method can optionally be adjusted from Accrual to Cash. Note, cash-based accounting only applies to Xero, QuickBooks Online, and Excel-based integrations.
- Close Month will update automatically per your accounting system as long as your Accounting Import is set to Automatic. You can also override this with a manually selected date.
- Accounting Import (shown above: "QuickBooks Import") can optionally be adjusted from Automatic to Manual to by-pass the automatic nightly import of Actuals.
Did you know?
The Close Month can be dynamically referenced throughout Jirav. For example, you can configure Dashboards and Reports to display data as of the Close Month.
Plans
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 included below.
Salary Expenses
Salary Expense is an Operating Expense 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 Allocation Drivers to allocate from the Salary Account to other Accounts.
Cash
Cash is an Assets Account used to forecast your cash balance. Cash is the 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.
Unmapped Accounts
Choose "On" to exclude or "Off" to include the Unmapped line in Reports & Plans when blank. Unmapped accounts can appear when the COA is managed manually.
Staffing
Optionally choose to include (choose On) or exclude (choose Off) an employee in the calculation for Headcount in the month of their termination. Defaults to On.
For employees with a mid-month hire and/or term date, optionally choose to prorate the calculated salary (choose On) or calculate the full month's salary (choose Off).
Defaults to On.
Enter the Average Hours per Week to be applied to annualize the wages for any employee who is imported with an hourly rate. For example, if an employee is paid $35/hr and the field is populated with 40, the wages will be annualized to $72,800 (40 Hrs per Week * 52 Weeks in Year * $35/hr).
Labels
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 reflected throughout your Jirav model.
You can always restore default Labels by clicking the RESTORE DEFAULT LABELS button.
