Brixx Update | Improved UI and More Powerful Planning Tools
Better Financial Forecasts
We have been hard at work with the App. Our goals have been to provide a better experience and more functionality for building your financial plan. This is just the start of many planned updates we want to introduce.
- Improved navigation
- Revamped component form layouts
- Automated default mode for data entry
- Improved calculations for more control over cash flow
- New Group Cost of Sales component
- New Inventory and Group Inventory components (subscription)
- New tour of the software through an example bike shop
I’ll touch on a few of these features in this blog post.
We have moved the main views onto a unified top menu bar so that you can access them no matter which panel you have open. It should save some clicks!
Group Cost of Sales
We have introduced a new component called Group Cost of Sales. It allows you to setup one cost component that looks at all the income sources in one Group and calculates the direct costs for them.
In this plan I have 3 products setup in one Group. Jeans is forecasting 5k per month, Dressesat 10k per month and Coats have a forecast of 15k per month.
The Group Cost of Sales component allows you to automatically calculate the direct costs in different ways. The default is percentage. In the example below I have set the percentage cost of sales to be 75%. This will be 75% of the total income from the group ‘Products’.
Now looking at the cash flow statement, you can see the forecast of the individual products and then the total below of the Cost of Sales. This is a great time saver as it means you don’t have to worry about creating multiple Cost of Sales for every source of income in the plan.
Another new component is for modelling a businesses inventory. It allows you to manage an initial purchase of stock, the cost of repurchasing stock and how much stock you will hold in advance of sales. Like the Cost of Sales components it’s calculations are based upon income. You can also write off some of your inventory every period.
Here we have the same products setup in the previous Cost of Sales example. This time the direct costs are being handled by the Group Inventory component. It has a Percentage of Sales option which has been set to 70% here.
The main difference here is that you have the option for purchasing a number of periods of inventory in advance. Here I have chosen to buy 3 months worth of products (based on the forecasts coming from Jeans, Dresses and Coats) at the start of the plan.
You will see the large cost coming in on your Cash Flow and Income Statements as well as the balance sheet value. This should give you a better idea of the value of your business and your initial stock requirements. As you can see here, the first month has a large purchase of stock:
Expanding Your Plan
We have improved the appearance of the Add Component Panel. It should now be clearer which group you are adding components to and what each component actually does.
Click the ‘Components’ button at the bottom of any group to reveal this panel.
This is just a taste of the improvements, a lot more has occurred under the hood. Make sure you sign in at www.brixx.com and check out the changes.