Modeloptic Product Update: November 20, 2023

Luke Harris
Co-Founder, Modeloptic

We're excited to tell you about several significant new product updates that we've just rolled out:

1) Additional Tiers to All Three Financial Statements

Modeloptic now supports up the three tiers of hierarchy on the Income Statement and two tiers on the Balance Sheet and Statement of Cash Flows. This give you great flexibility in organizing your chart of accounts, and lets you easily switch between high level and low level views of your financials.

You can take advantage of the additional tiers by using the "Add Child" buttons on the Configuration page:

After hitting the “Add Child” button under the “Personnel” line in this example, you can see that we've now added a third tier to this account:

2) Flexible Hierarchy for Interest Income & Expense

Any account within the "Other Income / Expenses" section of the income statement can now be flagged as an Interest Income or Interest Expense line, including nested accounts:

Once you've flagged a line as Interest Expense, it will then be available for selection as the Interest Expense target for any Debt items that you've defined on the Balance Sheet:

3) Flexible Forecasting for Interest Income & Tax Expense

Interest Income and Tax Expense line items can now be forecast from a full suite of options:

This gives you the power and flexibility to forecast these line items in whatever manner makes most sense for your company.

We hope you enjoy the added functionality! As always, if you ever have questions, please don't hesitate to contact us!

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