Looking at the tax payable and paid section of the Calculations sheet of your file - in row 331 there is the following formula
=-IF(J$9-$I327<0,0,OFFSET(J330,0,-$I327)) = (40)
in my file (copied and pasted) the formula is:
=-IF(J$9-$I327<0,0,OFFSET(J330,0,-$I327)) = 0
I must be missing something as I can't see how the formula in your file can equal (40) when it refers to row 330 and only moves the column reference by the Payment delay?
The cashflow in my model - which balances - is 40k better than yours
Cash Flow Statement (J21) = 0 my model
Cash Flow Statement (J21) = (40) in your model
Also in Calculations row 388 there is a different formula in columns K:N than in column J is there a reason for this?
Thanks for your query Alison.
I think with regard to your first question, you are comparing your "work in progress" (WIP) result with the final value - and your WIP model does not include opening balances and other calculations which will have an affect on the result. Having zero at this stage is fine, if you are working through.
Regarding row 388, this is a good spot and we have had to look into this - hence the slight delay in replying. For some reason, the Final Model in the course is an earlier draft and the issue you have identified is a mistake (I am not going to beat around the bush!). We did identify this and this was corrected in a later version, but for some reason, this version of the file was uploaded. To be clear the formula in column J is the correct one and should be copied into columns K:N.
We are going to put the correct version of the Final Model up as soon as we are able. We are unclear how this happened, and apologise for any inconvenience caused. We know the Final Model very well, as it has been tried and tested for some time without any issues reported and will rectify this administration error shortly.
Thanks but I can’t see how yours can be (40) with the formulae when copied across looks at one row only for which (40) doesn’t seem to be an option?
where else should I be looking if you think I’ve missed something out? - my model balances
When you complete the model and put the opening balances back in, the results should cascade through and provide (40) - at that point. If your model is balancing at this stage, you should be fine.
The opening balances are in and still no (40)
how can your formula be working when you don’t have (40) on row 330?
I am sorry, but I don't have your model to compare against.
as far as I can see its the same as yours ….. apart from row 330
see attached
Now I see. Take a look at cell I330 in the two models. In the Final Model, it has the formula =I332, whereas yours is understandably blank. Put this formula in and it will work. This is a common modelling trick used to simplify formulae (otherwise another IF statement would be required for the first period). The "Empty Cell" style highlights that something is going on in this cell (but I can understand why you would think that is blank).
Love the smiley faces by the way! 🙂
Thank you
