I sometimes get a circular reference in my EZQ file. What should I do?
A circular reference typically arises when there is a difference of more than 364 days between your last fiscal year-end and the start date of your project. If you wish to begin your financial projections on January 1, 2018, your LAST fiscal year-end is December 31, 2017, not 2016.
I would like to create my first file with EZQ. What do you suggest I do to get my file off to a good start?
First, I recommend that you print the user guide which explains how each section of EZQ works. You can complete them one by one by reading this guide. https://www.ezq.ca/logiciel/manuel/EZQ-Manuel-utilisation-V4.08FR.pdf. Furthermore, when you see a red triangle in the corner of a cell, it means there's a comment guiding you on what to do with that cell. If you're more visual, you can also check out the EZQ section tutorials. https://ezq.ca/en/services-et-support/formation/. For consultants, economic developers or business managers, it is highly recommended to take a training course with an advisor so that you can ask all your questions relating to your special projects. https://ezq.ca/en/abonnements/ . You can be several people to follow this training at the same time via a web conference.
Why do I see a "?" in cell A1 in my file?
This means your balance sheet is not balanced. Naturally, when you enter your opening balance sheet data, this "?" will appear until it balances. If it is still unbalanced afterward, you can refer to the end of the user guide, which explains why your balance sheet might be unbalanced.
I would like to change some of the formulas or add some for my personal needs. How can I do this?
EZQ intentionally blocks all colored boxes to prevent you from breaking important links between formulas and ruining your file. Furthermore, financial stakeholders can rely on the data because it's impossible to falsify the information within the software. At the very end of the software, you'll find blank pages that you can use to create a presentation of your choice by building your own formulas. Some clients occasionally use these pages to create a dashboard where they link the company's forecast or actual data.
Sometimes I receive in-house financial statements from my clients that don't accurately reflect their reality. Should I rely solely on their latest tax statements?
EZQ is designed to avoid trying to predict what actually happened in the company's past. It would be more beneficial to work with your client to get their accounting in order and start off on the right track. Furthermore, your client will be able to obtain representative financial statements for each subsequent month. If your client's financial statements don't reflect reality, how will they be motivated to monitor their finances? Since EZQ operates using management accounting principles, it's essential to use the company's own financial statements to extract the data when comparing forecasts to actual results.
How can I add accounts to the balance sheet or profit and loss statement?
EZQ was built on the principle that clients would only need to perform financial tracking on two pages: one for the results and one for the balance sheet. Our experience shows that if you use multi-page financial statements, no one will do monthly tracking. The tracking will be too cumbersome and won't provide a comprehensive view of the business. You can group several accounts into the same category. However, you can rename all accounts with blank cells in the opening financial statements.
Is it really necessary to carry out actual follow-ups?
Actual tracking should be the primary reason you acquire EZQ. Many businesses and organizations use it to secure financing. Why get financing if you don't track your projections and are unable to repay your creditors? Monthly tracking allows you to know what's coming up 17 months in advance. Many businesses look at their financial statements about six months after the end of the fiscal year and wonder what to do to improve their situation. By performing monthly financial tracking, you'll have already set your game plan in motion.
