Pro Forma financials report (balance, income, cash flow)?

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Generating a business pro forma financials for the Mac is a significant requirement. I purchased Quicken having this expectation as it is a rudimentary thing. However, it is not available. When will it be available?

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  • 2bStealthy
    2bStealthy Member
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    Anyone have an idea how to generate a pro forma with ebitda from the Mac version?

  • 2bStealthy
    2bStealthy Member
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    I am using the v7.7.1 version for MacOS 14.5.

    There is no way to generate a pro forma financial statement!

    This is a significant miss.

    When will it be available?

  • jacobs
    jacobs SuperUser, Mac Beta Beta
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    Are you talking about this for your personal finances or for business finances?

    Quicken can't produce an Income Statement (if you're using the Business & Personal version) or Category Report (basically an income statement) for projecting future revenues and expenses. Instead, Quicken has a Budget, which does much of the same thing as a pro forma income statement would show: projection of future income and expenses. Quicken can generate a budget based on your prior year actuals, but it's up to you to manually adjust/enter income and expense categories to reflect your expectations/projections/guesses for what lies ahead.

    I don't know of any way to do a pro forma balance sheet; a balance sheet is mostly the same as Quicken's Net Work report, but there's no way to project future account balances.

    You can set your account register to show future balances if you have future income/expenses entered, but that's not the same as a pro forma income statement. You can set your sidebar to show projected future account balances, but it's nowhere near being able to produce a pro forma balance sheet for a specific date.

    When you ask about EBITDA, that's strictly a business term that wouldn't be typically used for personal finances. So again the question: are you trying to use this for managing a business' financials? I think you could construct a category report (income statement) and have it omit the categories for interest, taxes, depreciation, and amortization to get a reasonable EBITDA report. But since things like depreciation and amortization need to be manually set up and entered in Quicken, it just sounds to me like you may be looking to use Quicken beyond its core competency.  Quicken is designed as personal finance software; it can be successfully used by individuals with part-time or full-time small businesses, but it is not designed to offer full-fledged, double-entry-type business accounting features.

    P.S. When any future feature may become available is never disclosed by the powers that be at Quicken. This is a Community website, with mostly fellow Quicken users and a handful of Quicken moderators, but we never get any projection of when a planned feature will become available.

    Quicken Mac Subscription • Quicken user since 1993
  • 2bStealthy
    2bStealthy Member
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    they shouldn’t call it Personal & Business.

    Generating pro forma is a typical business reporting task.

    Make it one or the other.

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    edited June 18
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    they shouldn’t call it Personal & Business.

    It used to be called "Home & Business". The marketing folks changed it last year to "Business & Personal". No one here has any insight into how or why they do these things. 😉

    But the bottom line is that Quicken is personal finance software, which can be stretched to handle bookkeeping for a user's small business. It's designed for people who own rental properties, or do consulting or other service businesses. It isn't business accounting software. It can't track inventory. It doesn't have tools for depreciation, although you can track it manually.

    I'm not sure how much you researched Quicken before purchasing it, but if you look at the web page for Quicken Business & Personal, you'll see that it doesn't suggest it's really full business accounting software.

    So it sounds like what you expected Quicken's Business & Personal level of subscription to be just doesn't mesh with what the product is/aims to be. The Mac version of Business & Personal just launched late last year, so they are still working to add key pieces of functionality, particularly invoicing, but I don't think you'll ever see it expand into full-fledged business accounting software. If that's what you need, you may be best finding a different tool rather than banging your head on the business functionality Quicken will likely never have.

    Quicken Mac Subscription • Quicken user since 1993
  • IDCPublishing
    IDCPublishing Member ✭✭
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    Just spoke to a customer support agent on the phone and they informed me that the MacOS version cannot create invoices, historical financial statements including Income Statement, Cash Flow Statement, Balance Sheet. Really?! Obvious the business side needs some help/work IMO. If Quicken Business and Personal was really THAT, it would include those features AND account for business asset. depreciation. Really enjoy the offline ability Quicken products have (i.e. not needing an internet action to use) while integrating online integration as needed for account. updates, etc. Now, not to get greedy, but if you could enable invoicing of customers/clients with way to pay their invoice using Braintree, Stripe, PayPal, et. al. THAT would be HUGE draw to continue using Quicken Business and Personal.

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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    QMac, truly, can't currently create invoices. But whoever told you that it can't create "historical financial statements including Income Statement, Cash Flow Statement, Balance Sheet" was just plain wrong.

    I kinda suspect that you contacted a scam Q support site instead to Q Support.

    If QMac couldn't create those reports, it would be useless and wouldn't sell.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • IDCPublishing
    IDCPublishing Member ✭✭
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    NotACPA, I sincerely appreciate your update. Always good to get an actual user's take. Saw you are a Quicken Windows Subscription, Business & Personal user. Are you sure the MacOS version can create historical financial statements, including Income Statements, Cash Flow Statements, and Balance Sheets? FYI: The number called was 650-250-1900 from the Quicken Support web page. Another example of how confusing the feature set is from Windows to MacOS perhaps? Especially and specifically with regards to Quicken for Business and Personal on MacOS. I didn't even mention the lack of Ratio Analysis support (although, perhaps you know if that's a customizable report users can create?) Again, our favorite part of Quicken products is the "what if you don't have internet access" part that enables you to still make it work offline.