Navita

Budgeting can be started by copying current year actual data and the rest of the year forecast as the latest outlook, which can be used as a baseline for the next year's budget. It is possible to add growth from the baseline to the next budget.

You can take advantage of automatic value breakdown while entering a budget. For example an entered annual high level value can be split to months, to sub-accounts and to cost centers in the organisation according to a predefined rule.

Some items in a budget can be calculated automatically based on pre-defined rules such as social costs as percentage of salaries and wages or costs of goods sold as percentage of revenues. Navita calculation can be also utilized to eliminate internal group items to consolidate group total.

With support of calculation rules a budget can be generated based on non-monetary drivers: for example, given values represent amounts, unit prices, size of personnel, utilisation ratio etc.

The simplest forecast which Navita provides is an outlook of the current year combining actual data and rest of the year budget data. However, users can contribute to the forecast if outlook needs an update. And when one version is not enough, then many forecast scenarios can be created.

Forecast process can be initiated by copying existing budget or past actual data which works as a starting point before users start to contribute. The same calculation rules from budgeting can be applied in forecasting, too.

In addition to profit & loss forecasting Navita supports balance forecasts based on investment plan, depreciation time, loan payments, turnover days of working capital etc. Together these two forecasts provide a long-term cash forecast.

Results of each forecast scenario can be saved as a different data set which can be compared to each other. In reporting, forecasts can be compared to actual and budget data.

Following reports are provided by default: profit & loss, balance sheet, cash flow statement, working capital statement and financial KPI report. Additional custom reports can be generated for management reporting purposes and for a board of directors.

Drill-through to transactions from reports. Voucher attachments can be opened from transaction details when a web link is available.

All data sets, for example Actual, Budget, Forecast etc., can be compared in reports with differences. Data can be viewed in months, quarters and years.

For the management reporting Navita is able to allocate revenues and expenses to other departments and cost centers within (for example from organisation's support functions). Same allocation rules can be applied to all data sets.

Generate consolidated financial statements in Navita every month. Eliminations can be imported or entered. Navita can calculate eliminations of group sales and purchases by custom calculation rules.