Forecasted and realized incomes

LiveSpace allows you to analyze incomes in two aspects: the forecast and realization. You can use only one of them, but if you want to compare forecasted incomes with their actual realization, it is worth completing both fields. Adding an expected income is possible immediately when you add a deal – we described it in Adding deals. Often, however, while adding a deal, you do not know yet what income you can expect from it. In this article, we will discuss adding incomes to the already created deals.

In this article we describe:

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Adding a forecasted income to an existing deal

To add an income to your existing deal:

  1. Open the deal profile to which you want to add a forecasted income.Wejście na profil sprzedaży w LiveSpace CRM
  2. If during deal adding, you did not define any forecasted incomes, the Incomes window on the right side will be empty. Puste okienko przychodów w LiveSpace CRM
  3. To add the first income, simply select Add in the Incomes section.Dodawanie w okienku przychodów w LiveSpace CRM
  4. In the adding income window, you can select the category, specify the amount, expected date of income, add a description and determine whether this is a one-time or recurring income. It should also be noted if it is an income forecast or the income realization. For the sake of this article, let’s choose the first scenario.Dodawanie nowego przychodu w LiveSpace CRM
  5. Finally, click on Add to save the new forecasted income.Przycisk dodaj przychód w LiveSpace CRM

A single sales process may relate to more than one sales category depending on how they are configured in LiveSpaceFor example, winning a deal called “Website creation for the ABC LLC. company could mean that there are the following incomes:

  • 10,000 USD in the category of “Disposable services, to be paid after the work is completed.
  • 500 USD / month for 12 months in “Continuous support” category, counted since the launch of the website.

The total value of such sales is 10,000 USD + 12 x 500 USD = 16,000 USD – an amount that is not paid at once. With a possibilty to add multiple elements to deal forecasts, not only will LiveSpace be able to give you the total value of the deal, but based on this, it will also calculate incomes spread over timeTo do this, simply add an additional income by pressing the Add button on a deal profile.Dodawanie kolejnego przychodu w LiveSpace CRM

 

Adding a realized income to an existing deal

In the similar way as you add an income, you can also add its realization. To do this:

  1. Choose Add income.Dodawanie w okienku przychodów w LiveSpace CRM
  2. Then select the option of adding income realization in the income addition form.Dodawanie zrealizowanego przychodu w LiveSpace CRM

While adding realization, you should enter actual and final amounts and dates. This way, you will know that although you assumed that the income would be equal to 30,000 USD in February, it eventually turned out to be 28,000 USD and was not accounted for until March. Decide on your own if the date of realization will be the date when your company’s account is credited with the payment, date of the contract signing, or the time when the invoice is created. However, it is important that you are consistent in the approach of your choice.

Income statement forecast and realization

For a sales process which include incomes of several different categories and have been marked not only as forecasted but also as realized incomes, the income area will contain a summary list of all previously reported values.Sumaryczne zestawienie przychodów w LiveSpace CRM

 

  1. To see a detailed list of the elements included in the forecasts and realizations and eventually edit the individual values, use the Show details button.Przycisk pokaż szczegóły w LiveSpace CRM
  2. This displays a window containing charts and an accurate list of all incomes.

Wykresy prognozowany i zrealizowanych przychodów w LiveSpace CRM

A detailed statement of incomes

A detailed income list gives you insight into all components of an income statement, including forecasted and realized incomes. The following columns of the statement shows, respectively, the income category, date, forecast or realization value (depending on the income type).Szczegółowe zestawienie przychodów w LiveSpace CRM

On the deal list you can:

  • Add an income or its realization using the Add forecast or Add realization buttons visible above the list.
  • Edit and delete individual forecasts and realizations by Edit and Delete options accessible after expanding the menu below the arrow at each income.
  • Quickly add realization on the basis of income by using the Mark as realized option accessible after expanding the menu below the arrow at each income.
  • Collectively mark forecasts as completed or delete them via the List operations.
  • Filter and sort the values on the list using the Filter and Sort options.

Worth knowing:

  • All the forecasted and realized incomes of all the deals can be easily viewed in the Finances tabFor more information see the Finanses section.
  • LiveSpace also allows you to analyze your costs and profits. You can learn more about it in the Costs and profit section.