How can I manage other financial items?

This article explains how you can use the other financial items module.

This data enables our software to build your financial statements (balance sheet, P&L, cash flow statement), which can then be downloaded along with your business plan.

It’s fast and easy to do.

financial income and expense for a bakery business in The Business Plan Shop's financial forecasting software

What are other financial items?

Other financial items can either be a source of income or an expense.

For a small business you probably won't have to enter anything here.

What is financial income?

The financial income includes revenues from affiliated companies, interests on your company's saving accounts, FX gains.

What are financial expenses?

The financial expenses include interests and FX losses. 

Please note that the interests calculated on the loans added in the loans module don't appear here. They are added automatically to the relevant sections of your financial statements by our software.

How does the other financial items module work?

At the centre of the module, you will find a table which details each other financial item and its corresponding income or expense

You can view data for these financial items for up to 5 years from when you started the business plan

You can edit, copy and delete financial items by using the buttons in the table

You can reorganise financial items in the table using drag and drop

How does the manage other financial items module impact my financial forecast?

The Business Plan Shop’s software will use your financial income data to create your forecasted financial statements (P&L, balance sheet and cash flow statement). 

These statements also form part of the financial plan section of your business plan. 

As soon as you save a new financial income amount, the software will automatically recalculate everything to ensure that your financial forecast is up to date. It’s fast and simple, meaning that your plan will always be ready to export.

When building your forecasted financial statements for any:

Financial Income

  • We’ll use the amount entered to build the other financial income section in your P&L.
  • We’ll then use your payment terms and optional VAT/GST settings to build your balance sheet (amount owed by clients and tax collected)
  • We’ll then combine all this data to build your cash flow forecast.
  • If part of the income needs to be deferred to the next accounting period, you can use the optional deferred revenues module. In that case, we’ll also adjust the amount recognized on your P&L and balance sheet accordingly.

Financial Expenses

  • We’ll use the amount entered to build the financial expenses section in your P&L.
  • We will then use your payment terms and optional VAT/GST settings to build your balance sheet’s liabilities (amount owed to suppliers and tax owed to the government)
  • We’ll then combine all this data to build your cash flow forecast.
  • If part of the expense needs to be deferred to the next accounting period, you can use the optional deferred costs module. In that case, we’ll also adjust the amount recognized on your P&L and balance sheet accordingly.

Frequently Asked Questions

How do I add new other financial items to the table?
  • Simply, click on the add an other financial item button above the table how I can add a new other financial item

Notes:

  • In this example, we have used a screenshot from the business lines module which works the same as the other financial items module
  • When you click on "add an other financial items", a prompt box will appear listing the types of other financial items that can be added.
How do I edit existing other financial items in the table?

If you are on desktop:

  • Choose the row that you want to edit
  • Hover your cursor over that row. An edit button will now appear. editing other financial items on desktop
  • Click on the button
  • You should now be able to edit the other financial items

If you are on mobile:

  • Choose the row that you want to edit
  • Click on the settings button at the end of the row. An edit button will now appear. editing other financial items on mobile
  • Click on the edit button
  • You should now be able to edit the other financial items

Notes:

  • In this example, we have used a screenshot from the business lines module which works the same as the other financial items module
  • You can also click on the name of the other financial item in the table to edit it for both desktop and mobile.
How do I re-order other financial items in the table?

Notes:

  • You can re-order other financial items by dragging and dropping them inside the table
  • In this example, we have used a screenshot from the business lines module which works the same as the other financial items module

If you are on desktop:

  • Click on the drag handle at the beginning of the row reordering other financial items by dragging and dropping
  • Click and hold on the icon simultaneously, while dragging it to your chosen location in the table. 
  • The other financial items should now be placed in your desired position in the table
How do I export other financial items?

If you are on desktop:

  • Choose the row that you want to export
  • Hover your cursor over that row. An export button will now appear. exporting either a single other financial item or the entire table of other financial items on desktop
  • Click on the export button
  • The file will automatically download as a CSV

If you are on mobile:

  • Choose the row that you want to export
  • Click on the more options icon at the end of the row. An export button will now appear. exporting a single other financial item on mobile
  • Click on the export button
  • The file will automatically download as a CSV

Notes:

  • In this example, we have used a screenshot from the business lines module which works the same as the other financial items module
  • If you are on desktop, you can also click on the "export to CSV" button beneath the table. This exports the entire table, rather than a single other financial item. In this case, you'll also be given the choice to export either monthly or yearly data.
How do I copy other financial items?

If you are on desktop:

  • Choose the row that you want to duplicate
  • Hover your cursor over that row. A copy button will now appear. producing duplicates of specific other financial items on desktop
  • Click on the copy button
  • You’ll now have two rows that have the same settings and data

If you are on mobile:

  • Choose the row that you want to duplicate
  • Click on the more options icon at the end of the row. A copy button will now appear. producing duplicates of specific other financial items on mobile
  • Click on the copy button
  • You’ll now have two rows that have the same settings and data

Notes:

  • In this example, we have used a screenshot from the business lines module which works the same as the other financial items module
How do I delete other financial items?

If you are on desktop:

  • Choose the row that you want to delete from the table
  • Hover your cursor over that row. A delete button will now appear. removing outdated other financial items on desktop
  • Click on the delete button
  • That row will now be deleted from the table

If you are on mobile:

  • Choose the row that you want to delete from the table
  • Click on the more options icon at the end of the row. A delete button will now appear. removing outdated other financial items on mobile
  • Click on the delete button
  • That row will now be deleted from the table

Notes:

  • In this example, we have used a screenshot from the business lines module which works the same as the other financial items module
How do I restore other financial items?
  • Click on the name of any other financial items in the table
    • For other ways to edit an other financial items, check out our FAQ above
  • You'll now be taken to the edit view page
  • Scroll down and click on view version history, just beneath the table viewing previous versions of the other financial item table
  • Use the filters located above the table to find your deleted other financial items

The final step will depend on whether your on desktop or mobile:

If you are on desktop:

  • Click on the "activate" button in the table to restore the other financial items restoring accidently deleted other financial items on desktop

If you are on mobile:

  • Click on the "more" button at the end of the row
    • Click on the "restore" button that appears restoring accidently deleted other financial items on mobile

Notes:

  • In this example, we have used a screenshot from the business lines module which works the same as the other financial items module
  • Other financial items can only be restored from their edit view

Go further with The Business Plan Shop

Was this page helpful?