Savings Calculations – Annualised & Fiscal

The savings values are saved in two versions – ANNUALISED and FISCAL. ANNUALISED version show savings in 12-month blocks starting from the SAVINGS START DATE (Year 1,2,3,...). These are the recalculated into FISCAL values based on the SAVINGS START DATE and the FISCAL YEAR settings.

We support clients who have FISCAL YEARS different from Calendar years. It's as easy as changing a client setting.

For example:
  • A Savings Initiative starting on the 1st of JUNE 2019 with annualised value of 12.000 EUR for a typical client with fiscal year equal to calendar year would be calculated as 7.000 EUR for FY2019 and 5.000 EUR for FY2020.
  • A Savings Initiative starting in JUNE 2019 with annualised value of 12.000 EUR for a client who has FISCAL YEARS starting on the 1st October would be calculated as 4.000 EUR for FY2019 and 8.000 EUR for FY2020.
Sample calculation for clients with Fiscal Year = Calendar Year

Sample Savings entry screenshots showing automatic calculation from Annualised to Fiscal values

Multi-currency support

Savings are always calculated and kept in the currency they were entered and that's usually the original currency of the country where the savings were generated. Meercat by default shows the savings in their original currency and likewise exports such data to Excel. However, the system allows on-the-fly recalculation to any currency desired by the person who views the list. The graphical reports always recalculate the values to a common currency.

A daily exchange-rate register is kept in the system. The administrator can update the currencies on a daily basis, if so needed, though clients usually set the exchange rate per mont or quarter. The update can be made manually or through an Excel file upload. The Excel template includes a connection to the server and can be updated with the latest exchange rates at a mouse-click.

Users are able to determine which exchange rate is used for the given savings by "locking the rate". If the Exchange rate (X-RATE) date is not set, the savings are always recalculated with the NEWEST exchange rates available in the system. If the date is set, then the exchange rates from the given day are always used (or the latest available by this set date; e.g. if you upload exchange rates for 1 Jan 2019 and 1 March 2019 and the date is set to 1 Feb 2019, then the values from 1 Jan are used.)