Short term receivables and payables that are included in the base Trial Balance need to be manually unwound over the forecast periods. Unwound amounts are entered in corresponding periods in the Unwind TB Section.
Asset categories that are manually unwound include Trade Receivables, Accrued Income & Prepayments.
Liability categories include Trade Payables, Deferred Income, Accrued overheads & Other short term creditors.
Latest trial balance figures are imported into the Base column in this Section. As we can see, receivables from Sales A at the end of April were in the amount of £337,000. We have entered £300,000 of this amount in the yellow cells according to our cash receipt projections. £37,000 of the receivables has not been unwound yet.
Please, note that Assets are reported as positive and liabilities as negative figures in this Section.
To review in details what balances remain to be unwound on each accounts and how unwound amounts have impacted the financial statements in each period, users can review TB Unwound Section from Opening Trial Balance Group. This section is for information purposes only and no user input is required.
