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9:T6c39,{"id":"cG9zdDo1MDYz","title":"What is a Static Budget and Why is it Important?","content":"\n<p>Understanding the various budgeting methods is crucial for effective financial planning and management. One such method is the static budget, a tool that helps organizations set financial expectations and measure performance against fixed benchmarks. In this comprehensive guide, we&#8217;ll explore what it is, how it differs from a flexible budget, its advantages and limitations, and how to create one with relevant formulas.</p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What Is a Static Budget?</strong></h2>\n\n\n\n<p>A static budget is a financial plan that remains unchanged throughout a specific period, regardless of any changes in sales, production, or market conditions. It serves as a baseline to measure actual performance against predetermined revenue and cost expectations. Unlike flexible budgets, which adjust according to business activity, static budgets are fixed once established, making them a straightforward tool for monitoring financial performance.</p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Static Budget vs. Flexible Budget</strong></h2>\n\n\n\n<p>While static and flexible budgets are both tools for financial planning, they differ in their approach to adjusting to real-time business conditions.</p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Static Budget</strong></h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Fixed Timeframe</strong>: Once created, the budget remains the same for the entire period, usually for a fiscal year or a set quarter.</li>\n\n\n\n<li><strong>Unchanged Projections</strong>: Revenues, expenses, and other financial metrics remain consistent, regardless of actual business activity.</li>\n\n\n\n<li><strong>Performance Benchmark</strong>: It is used to compare actual performance with the financial plan at the end of the period.</li>\n\n\n\n<li><strong>Simpler to Implement</strong>: It is straightforward to create and doesn’t require constant adjustments.</li>\n\n\n\n<li><strong>Best For Stable Environments</strong>: Ideal for businesses or departments with predictable revenue and expenses.</li>\n</ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Flexible Budget</strong></h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Adjustable Forecast</strong>: The budget adapts to fluctuations in sales or production levels.</li>\n\n\n\n<li><strong>More Dynamic</strong>: It adjusts as business conditions evolve, making it better suited for businesses with variable costs or revenues.</li>\n\n\n\n<li><strong>Greater Accuracy</strong>: Since it adapts to actual performance, it offers a more precise evaluation of financial health.</li>\n</ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The Benefits</strong></h2>\n\n\n\n<p>While a static budget may not suit every business, it offers several key benefits:</p>\n\n\n\n<p><strong>Simplicity: </strong>It is relatively easy to create and implement. Since it remains unchanged, it simplifies financial reporting and helps organizations set clear expectations for revenue and expenses.</p>\n\n\n\n<p><strong>Clear Financial Goals: </strong>By providing a fixed benchmark, it helps businesses set specific financial targets and ensure they stay within their planned expenditures. It encourages financial discipline and resource management.</p>\n\n\n\n<p><strong>Effective Performance Evaluation: </strong>Since the static budget remains unchanged, it allows for clear comparisons between actual financial results and planned figures at the end of the period. This makes it easier to identify variances and evaluate overall business performance.</p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The Limitations</strong></h2>\n\n\n\n<p>While static budgets provide a solid framework, they also have limitations that businesses should consider:</p>\n\n\n\n<p><strong>Inflexibility: </strong>A static budget does not adjust to unexpected changes in the business environment, such as sudden market shifts, changes in demand, or unforeseen expenses. This inflexibility can make it difficult to pivot if business conditions change.</p>\n\n\n\n<p><strong>Limited Usefulness for Dynamic Businesses: </strong>For businesses that operate in fast-changing or seasonal markets, a static budget may not provide an accurate picture of financial health. In such cases, a flexible budget would allow for better adaptability and more accurate financial tracking.</p>\n\n\n\n<p><strong>Potential for Variance: </strong>Since actual business results can deviate from the original forecast, static budgets can lead to significant variances between planned and actual outcomes. These variances must be monitored and analyzed regularly.</p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How to Create a Static Budget</strong></h2>\n\n\n\n<p>Here’s how you can prepare an effective static budget for your organization:</p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 1: Define Your Budget Period</strong></h3>\n\n\n\n<p>Decide the time period for which the budget will apply—this could be a fiscal year, a quarter, or another relevant timeframe.</p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 2: Estimate Revenues</strong></h3>\n\n\n\n<p>Use historical data and market projections to forecast your expected revenues. This includes all potential income streams such as product sales, services, or investments.</p>\n\n\n\n<p><strong>Estimated&nbsp;Revenue = Sales&nbsp;Volume × Average&nbsp;Selling&nbsp;Price</strong></p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 3: Estimate Costs</strong></h3>\n\n\n\n<p>Identify both fixed and variable costs for the budgeting period. Fixed costs, such as rent or salaries, remain constant, while variable costs fluctuate with production or sales.</p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 4: Calculate Net Income</strong></h3>\n\n\n\n<p>Once you’ve forecasted both revenues and costs, subtract total costs from total revenues to estimate your net income for the period.</p>\n\n\n\n<p><strong>Net&nbsp;Income = Total&nbsp;Revenue − Total&nbsp;Expenses</strong></p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 5: Finalize and Review</strong></h3>\n\n\n\n<p>After compiling the budget, review it with relevant stakeholders, such as department heads or senior management, to ensure alignment with overall business goals.</p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The Role of Static Budget Variance</strong></h2>\n\n\n\n<p>At the end of the budget period, organizations compare their actual performance to the static budget. The differences between the planned and actual figures are known as budget variances. These variances help identify areas of overperformance or underperformance.</p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Calculating Static Budget Variance</strong></h3>\n\n\n\n<p><strong>Static&nbsp;Budget&nbsp;Variance = Actual&nbsp;Results − Static&nbsp;Budget&nbsp;Amount</strong></p>\n\n\n\n<p>For example, if the planned revenue was $500,000 but the actual revenue amounted to $450,000, the variance would be:</p>\n\n\n\n<p>Variance = $450,000 − $500,000 = −$50,000</p>\n\n\n\n<p>A negative variance indicates lower-than-expected performance.</p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>When Should You Use a Static Budget?</strong></h2>\n\n\n\n<p>This type of budget can be highly effective in the following scenarios:</p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Stable Business Operations</strong>: When revenue and expenses are predictable and unlikely to change significantly.</li>\n\n\n\n<li><strong>Non-Profit Organizations</strong>: Often used by non-profits, government agencies, or educational institutions where funding is fixed and expenses must be managed within set limits.</li>\n\n\n\n<li><strong>Short-Term Projects</strong>: For projects with a defined timeline and fixed costs, a static budget provides a clear framework.</li>\n</ul>\n\n\n\n<p>A static budget is a powerful tool for organizations looking for simplicity and clear financial targets. While it may not offer the flexibility to respond to changes in business activity, it remains useful for businesses with stable operations and predictable costs. Understanding its limitations and strengths can help you determine if a static budget is the right approach for your organization.</p>\n\n\n\n<p><strong>Ready to enhance your budgeting process?</strong> Discover how <a href=\"https://www.modeliks.com/features/\" target=\"_blank\" rel=\"noreferrer noopener\">Modeliks tools and solutions</a> can help you optimize financial planning with both static and flexible budgeting approaches. Start your free trial today!</p>\n\n\n\n<p></p>\n","slug":"what-is-a-static-budget-and-why-is-it-important","date":"2024-10-15T08:32:21","categories":{"nodes":[{"id":"dGVybToxMQ==","name":"Business Plans"}]},"mainCategory":{"mainCategory":["business-plans"],"videoHeader":null},"tags":{"nodes":[{"name":"financial modeling"}]},"featuredImage":{"node":{"id":"cG9zdDo1MDcw","sourceUrl":"/images/cms/static-budget.jpg","altText":"A static budget explained: Learn how it helps businesses set fixed goals and measure financial performance against benchmarks."}},"seo":{"metaDesc":"Learn how a static budget helps businesses set fixed financial goals and measure performance. Discover its benefits and limitations."},"modified":"2024-10-15T08:32:22","related":[{"id":"cG9zdDoxMTU0MQ==","title":"How Accountants Can Offer High-Margin Advisory Services","content":"\n<h2 class=\"wp-block-heading\">Why Advisory Services Matter for Accounting Firms</h2>\n\n\n\n<p>The accounting profession is shifting. Compliance and bookkeeping remain essential, but today’s clients expect more. They want guidance on <strong>how to run their business smarter, manage cash flow, and plan for the future</strong>.</p>\n\n\n\n<p>According to a <strong>CPA.com survey</strong>:</p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Clients pay <strong>~50% more</strong> for advisory services compared to traditional compliance.</li>\n\n\n\n<li><strong>65% of clients</strong> need advisory support.</li>\n\n\n\n<li><strong>45% expect their accounting firm</strong> to provide it.</li>\n</ul>\n\n\n\n<p>This means the demand is already there. The opportunity for accounting firms is clear: <strong>move beyond bookkeeping into high-margin advisory services</strong>.</p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"/>\n\n\n\n<h2 class=\"wp-block-heading\">The Challenge: Scaling Advisory Without Burning Out</h2>\n\n\n\n<p>For most small and mid-sized firms, the hesitation is simple:<br>❌ Limited staff time<br>❌ No standardized tools for forecasting &amp; reporting<br>❌ Concern about overcomplicating workflows</p>\n\n\n\n<p>The good news? Advisory can be delivered at scale, without adding headcount or creating inefficiencies — if you have the right system.</p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"/>\n\n\n\n<h2 class=\"wp-block-heading\">The Solution: Modeliks for Advisory Services</h2>\n\n\n\n<p><strong>Modeliks</strong> helps accountants transform their existing relationships into advisory partnerships by automating the heavy lifting.</p>\n\n\n\n<p>Here’s how it works in practice:</p>\n\n\n\n<p>1️⃣ <strong>Connect QuickBooks in Minutes</strong><br>Sync client actuals directly — no messy spreadsheets or manual imports.</p>\n\n\n\n<p>2️⃣ <strong>Build Budgets &amp; Automated Financials</strong><br>Instantly generate a forward-looking <strong>P&amp;L, Balance Sheet, and Cash Flow statement</strong>, tailored to each client.</p>\n\n\n\n<p>3️⃣ <strong>Deliver Dashboards &amp; Variance Analysis</strong><br>Clients see Actual vs. Plan vs. Previous Periods. You provide insight into <em>why</em> numbers moved — without building reports from scratch each month.</p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"/>\n\n\n\n<h2 class=\"wp-block-heading\">The Impact for Accounting Firms</h2>\n\n\n\n<p>Firms using Modeliks see:<br>✅ <strong>New revenue streams</strong> by offering planning &amp; reporting as premium packages<br>✅ <strong>Higher client retention</strong> thanks to consistent value beyond compliance<br>✅ <strong>No extra headcount required</strong>, since processes are automated<br>✅ <strong>Improved positioning</strong> as trusted advisors, not just bookkeepers</p>\n\n\n\n<p>As one accountant put it:</p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>“Our clients can now make confident decisions. For us it’s a game-changer — we finally sell insight, not just compliance.”</em></p>\n</blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"/>\n\n\n\n<h2 class=\"wp-block-heading\">Why Now Is the Time</h2>\n\n\n\n<p>Client expectations are rising. Competitors are moving into advisory. Technology makes it easier than ever to scale.</p>\n\n\n\n<p>If you’re an accountant or firm owner, now is the time to position your practice for the next decade. Advisory services are not just an add-on — they’re the future of accounting.</p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"/>\n\n\n\n<h2 class=\"wp-block-heading\">Next Steps</h2>\n\n\n\n<p>📽️ Watch the full video playbook here: <a href=\"https://www.youtube.com/watch?v=UlQEwnWOdKQ\">https://www.youtube.com/watch?v=UlQEwnWOdKQ</a>.<br>🌐 Explore how Modeliks can help you launch advisory services in under an hour -> <strong><a href=\"https://www.modeliks.com/solutions/accountants\">HERE</a></strong>.</p>\n\n\n\n<p>📩 Or <a href=\"https://www.modeliks.com/?utm_source=chatgpt.com\">reach out to</a><a href=\"https://www.modeliks.com/\"> </a><a href=\"https://www.modeliks.com/?utm_source=chatgpt.com\">us directly</a> to explore how Modeliks can be tailored for your firm.</p>\n\n\n\n<p>Enjoy <a href=\"https://modeliks.com/\">Modeliks</a>! We know we are!</p>\n\n\n\n<p>Author: <br><a href=\"https://www.modeliks.com/about-us\">Modeliks Team</a></p>\n","slug":"high-margin-advisory-services-accountants","date":"2025-09-02T08:30:06","categories":{"nodes":[{"id":"dGVybToxMQ==","name":"Business Plans"},{"id":"dGVybToxNA==","name":"Financial Forecast"},{"id":"dGVybTozNQ==","name":"News"},{"id":"dGVybTozNA==","name":"Partners"},{"id":"dGVybToxMg==","name":"Pitch Decks"},{"id":"dGVybToxMw==","name":"Reports & Dashboards"}]},"mainCategory":{"mainCategory":["financial-forecast"],"videoHeader":"https://www.youtube.com/watch?v=UlQEwnWOdKQ"},"tags":{"nodes":[{"name":"accounting advisory services growth"},{"name":"budgeting and forecasting"},{"name":"business planning"},{"name":"consulting firm profitability strategies"},{"name":"Financial analysis"},{"name":"financial forecasting"},{"name":"financial modeling"},{"name":"financial planning"},{"name":"financial planning for professional services firms"},{"name":"financial reporting"}]},"featuredImage":{"node":{"id":"cG9zdDoxMTU0Mg==","sourceUrl":"/images/cms/Screenshot-2025-09-02-at-10.27.59.png","altText":"How to offer Advisory Services at High Margin?"}},"seo":{"metaDesc":"Learn how accounting firms can add high-margin advisory services without extra headcount. Discover how Modeliks helps accountants deliver financial planning, reporting, and dashboards that clients will pay more for."},"modified":"2025-09-02T08:30:10","related":null},{"id":"cG9zdDoxMTQ4Mw==","title":"How to Manage & Grow Your Professional Services Business: A Strategic Playbook","content":"\n<p>Running a professional services business is demanding. Whether you’re a <strong>founder, consultant, accountant, or finance leader</strong>, the challenges are similar:</p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Managing multiple clients</li>\n\n\n\n<li>Tracking projects and timesheets</li>\n\n\n\n<li>Ensuring profitability while scaling</li>\n\n\n\n<li>Moving beyond basic bookkeeping into strategic financial insights</li>\n</ul>\n\n\n\n<p>The truth? Many services firms outgrow spreadsheets faster than they realize. A project-based business requires a planning and reporting framework that adapts as you grow &#8211; not one that breaks every time a new client, project, or team member comes onboard.</p>\n\n\n\n<p>That’s where having a structured <strong>financial planning and reporting system</strong> becomes a game-changer.</p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"/>\n\n\n\n<h2 class=\"wp-block-heading\">Who is This Playbook For?</h2>\n\n\n\n<p>This strategic framework is designed for:</p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Founders &amp; Owners of Service Firms</strong> — who need clarity on profitability and growth drivers.</li>\n\n\n\n<li><strong>Consultants</strong> — who want to optimize billable hours and scale without burning out.</li>\n\n\n\n<li><strong>Accountants &amp; Accounting Firm Owners</strong> — who want to expand beyond bookkeeping and offer high-value advisory services like forecasting, management reporting, and fractional CFO solutions.</li>\n\n\n\n<li><strong>Finance Leaders (CFOs, Finance Managers, Controllers)</strong> — who require accurate reporting, scenario planning, and board-ready insights without wasting hours in spreadsheets.</li>\n</ul>\n\n\n\n<p>If you run a <strong>project-based business, use timesheets, or manage multiple clients</strong>, this playbook is for you.</p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"/>\n\n\n\n<h2 class=\"wp-block-heading\">How to Grow Profitability in Professional Services</h2>\n\n\n\n<p>Professional services firms often face profitability challenges because margins are tied to <strong>capacity, efficiency, and client mix</strong>. Here’s where the right planning approach makes a difference:</p>\n\n\n\n<h3 class=\"wp-block-heading\">1. Plan by Project (Not Just Company-Level)</h3>\n\n\n\n<p>Each project has its own revenue, costs, and resources. Without project-level visibility, it’s impossible to know which work is actually profitable.</p>\n\n\n\n<h3 class=\"wp-block-heading\">2. Track Actuals vs. Plan</h3>\n\n\n\n<p>It’s not enough to create a yearly budget. Monthly actuals vs. plan reporting helps you quickly see where projects are off track and adjust before problems snowball.</p>\n\n\n\n<h3 class=\"wp-block-heading\">3. Build Scenarios</h3>\n\n\n\n<p>What happens if a big client leaves? Or if you add two more consultants next quarter? Scenario planning gives you the confidence to make tough decisions with numbers to back them up.</p>\n\n\n\n<h3 class=\"wp-block-heading\">4. Monitor Utilization &amp; Capacity</h3>\n\n\n\n<p>Employee utilization is the heartbeat of a services firm. By linking financial forecasts to <strong>billable hours, staffing, and client demand</strong>, you can identify bottlenecks and prevent costly underutilization.</p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"/>\n\n\n\n<h2 class=\"wp-block-heading\">How Modeliks Helps</h2>\n\n\n\n<p>At Modeliks, we’ve built a platform that turns these best practices into a structured, repeatable process.</p>\n\n\n\n<p>With <strong>Modeliks</strong>, you can:</p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Plan by Project, Department, or Client</strong><br>Build forecasts by any dimension of your business — project, geography, store, or team.</li>\n\n\n\n<li><strong>Automate Actual vs. Plan Reporting</strong><br>Sync with QuickBooks or upload trial balances from Excel. No more rebuilding reports every month.</li>\n\n\n\n<li><strong>Get Dashboards &amp; KPIs That Matter</strong><br>Variance analysis, profitability by client/project, utilization, and other insights are ready in minutes.</li>\n\n\n\n<li><strong>Run What-If Scenarios</strong><br>Test different client acquisition strategies, pricing models, or staffing plans.</li>\n\n\n\n<li><strong>Scale Without Adding Headcount</strong><br>Accountants and consultants can serve more clients in less time, while founders and finance leaders gain clarity without extra hires.</li>\n</ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"/>\n\n\n\n<h2 class=\"wp-block-heading\">Why This Matters Now</h2>\n\n\n\n<p>Most firms wait until they have 100+ employees to rethink planning. But the truth is, <strong>dimensional planning and reporting matters at 20 employees, as much as at 200.</strong></p>\n\n\n\n<p>The earlier you set up a scalable framework, the faster you can:</p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Increase profitability per client</li>\n\n\n\n<li>Retain clients longer by delivering insight, not just compliance</li>\n\n\n\n<li>Attract investors, lenders, or partners with investor-ready plans</li>\n\n\n\n<li>Free up time to focus on strategic growth instead of fixing spreadsheets</li>\n</ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"/>\n\n\n\n<h2 class=\"wp-block-heading\">Key Takeaway</h2>\n\n\n\n<p>Growing a professional services business isn’t just about winning more clients — it’s about <strong>building a system that lets you manage projects, measure performance, and grow profitably.</strong></p>\n\n\n\n<p>That’s what this playbook is about — and why we built <strong>Modeliks</strong>.</p>\n\n\n\n<p>👉 If you want to see how Modeliks can help you manage and grow your services firm, <a href=\"https://www.youtube.com/watch?v=E87pBDPZzPc&amp;utm_source=chatgpt.com\">watch the full video walkthrough here</a>.</p>\n\n\n\n<p>📩 Or <a href=\"https://www.modeliks.com/?utm_source=chatgpt.com\">reach out to us directly</a> to explore how Modeliks can be tailored for your firm.</p>\n\n\n\n<p>Enjoy <a href=\"https://modeliks.com/\">Modeliks</a>! We know we are!</p>\n\n\n\n<p>Author: <br><a href=\"https://www.modeliks.com/about-us\">Modeliks Team</a></p>\n","slug":"financial-planning-for-professional-services","date":"2025-09-01T11:47:08","categories":{"nodes":[{"id":"dGVybToxMQ==","name":"Business Plans"},{"id":"dGVybToxNA==","name":"Financial Forecast"},{"id":"dGVybTozNQ==","name":"News"},{"id":"dGVybTozNA==","name":"Partners"},{"id":"dGVybToxMg==","name":"Pitch Decks"},{"id":"dGVybToxMw==","name":"Reports & Dashboards"}]},"mainCategory":{"mainCategory":["financial-forecast"],"videoHeader":"https://www.youtube.com/watch?v=E87pBDPZzPc"},"tags":{"nodes":[{"name":"accounting advisory services growth"},{"name":"budgeting and forecasting"},{"name":"business planning"},{"name":"consulting firm profitability strategies"},{"name":"Financial analysis"},{"name":"financial forecasting"},{"name":"financial modeling"},{"name":"financial planning"},{"name":"financial planning for professional services firms"},{"name":"financial reporting"}]},"featuredImage":{"node":{"id":"cG9zdDoxMTQ4NA==","sourceUrl":"/images/cms/Screenshot-2025-09-01-at-13.39.02.png","altText":"Financial planning for professional services"}},"seo":{"metaDesc":"Discover how to manage and grow your professional services firm with project-based financial planning, reporting, and forecasting strategies."},"modified":"2025-09-01T11:47:11","related":null},{"id":"cG9zdDoxMDQyMA==","title":"Modeliks 2.0 is Live!","content":"\n<p>Today we released a massive new update of Modeliks.  A multidimensional Modeliks 2.0. I am both happy and sad to see Modeliks grow up. I liked baby Modeliks. He was cute and a little clumsy. Now, we created a beast.  </p>\n\n\n\n<p>We listened to your feedback and made Modeliks by far the best financial planning and reporting tool for SMEs. Alright, I might be a bit subjective, but here is what’s new:</p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Multi dimensional planning and reporting</strong>. This means that you can plan and track performance by organizational unit, whether that is business units, departments, geography, stores, projects. However your company is structured, you can have clear targets and track performance across your whole organization.</li>\n\n\n\n<li><strong>Consolidation</strong>: if you plan on a business unit level, Modeliks will consolidate your financial plans upwords.</li>\n\n\n\n<li><strong>Allocations</strong>: allocate costs from the head office down to the operating units. Why? Some costs are incurred in the head office, or regional offices, but should be allocated down to the operating units, in order to get a correct picture of profitability across the organization.</li>\n\n\n\n<li><strong>Quickbooks integration</strong>. Connect Modeliks to your Quickbooks and have your planning and monthly reporting automated, error free and done in minutes.</li>\n\n\n\n<li><strong>Account grouping</strong>. Group several accounts into one group account. For example, you can create a Utilities group account and make your Energy, heating, phone, internet, water accounts part of the utilities group. Why? Because when you plan, you don’t want to plan on every single small account that you have in your accounting system. It is too tedious and messy. So, group them logically, plan on groups, and make planning and reporting easy and useful.</li>\n\n\n\n<li><strong>Initiative planning and evaluation</strong>. You have a new initiative in mind for your business? Create a business case and see how it will impact your business. If the numbers say it’s good, keep it. If not, drop it.  </li>\n\n\n\n<li><strong>Monthly forecasting</strong>. Now you can forecast up to 3 years on monthly basis.</li>\n\n\n\n<li>Lastly. <strong>Speed</strong>. Modeliks is now 10 times faster than before.   </li>\n</ol>\n\n\n\n<p>And there is a lot more to come in the next few months. Stay tuned for new features, and in the mean-time, plan, manage and grow your business with Modeliks 2.0.</p>\n\n\n\n<p>Let’s recap. Now you can:</p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Build driver based financial models for any business</li>\n\n\n\n<li>Do it by department, business unit, geography, stores, projects</li>\n\n\n\n<li>Run scenarios and evaluate new initiatives</li>\n\n\n\n<li>Track actual performance vs budget, on every level in your organization. Especially easy with the Quickbooks integration</li>\n\n\n\n<li>Automate monthly investor and management reporting</li>\n\n\n\n<li>And write professional and detailed business plans with the help of our AI assistant.</li>\n</ol>\n\n\n\n<p>Enjoy <a href=\"https://modeliks.com/\">Modeliks</a> 2.0! We know we are!</p>\n\n\n\n<p>Author: <br><a href=\"https://www.modeliks.com/about-us\">Modeliks Team</a></p>\n","slug":"modeliks-2-0-a-live","date":"2025-04-01T08:59:31","categories":{"nodes":[{"id":"dGVybToxMQ==","name":"Business Plans"},{"id":"dGVybToxNA==","name":"Financial Forecast"},{"id":"dGVybTozNQ==","name":"News"},{"id":"dGVybTozNA==","name":"Partners"},{"id":"dGVybToxMg==","name":"Pitch Decks"},{"id":"dGVybToxMw==","name":"Reports & Dashboards"}]},"mainCategory":{"mainCategory":["financial-forecast"],"videoHeader":"https://www.youtube.com/watch?v=-61deO4BkFg"},"tags":{"nodes":[{"name":"budgeting and forecasting"},{"name":"business planning"},{"name":"Financial analysis"},{"name":"financial forecasting"},{"name":"financial modeling"},{"name":"financial planning"},{"name":"financial reporting"},{"name":"market analysis"},{"name":"modeliks"},{"name":"quickbooks"}]},"featuredImage":{"node":{"id":"cG9zdDoxMDQyMg==","sourceUrl":"/images/cms/Modeliks-2.0-Post-image.png","altText":"Modeliks 2.0."}},"seo":{"metaDesc":"A massive new update of Modeliks is here. A multidimensional, Quickbooks integrated, faster than ever Modeliks 2.0. 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