I need a projected income for the rest of the year to show to a mortgage provider. How can I do this using my quick file?
I’d use the profit and loss report to get the turnover figure for this year. Then divide that by 237 (days in the year so far, including 25th August) then multiply by 365. That would give forecast turnover for the year or multiply by 128 to forecast income for the rest of the year.
Unless you have an accurate pipeline of forward sashes I can’t think of another way to do it. It does assume though that your sales over the year are relatively consistent, E.g. if you sold ice cream then this would be a poor forecast method!