The following are some of the most frequently asked questions and steps needed to perform various functions .
Each results shown on the Result Display Window is fully supported for its computations.
To display these details just tap at the amount (or its caption).
Build the initial scenario with applicable data.
Select Options followed by Compare. Choose the comparison option. Each input made after this is analyzed and its cumulative impact is shown at the bottom of result display window in
If the alternate scenario is a modification of current scenario
Make data additions or modifications as needed. PlanMode will compute and compare the results with the previous scenario.
If the alternate scenario is going to be built from scratch
Options then Plan then New Case
Build the new scenario. PlanMode will compute and compare the results with the previous scenario.
If the alternate scenario is already saved in a file
Tap Options then File then Open Existing Case
Select the file of the case you want to compare. Upon loading PlanMode will show the details and the bottom-line difference.
You can make such input in the Expanded Input section where you can control the amount enter for each year, or, for more flexibility, use an Expression Input to make this entry.
Expression Inputs can be made in the main input section by a long-click on the input box. The format of input to enter a 75,000 income growing by 8% in the second year, 7% in the third and later years will be-
=75000,%8,%7
Note that Expression Input is a premium item available when premium features are active in your app.
An option on the customization panel lets you toggle between 3 or 5 years displayed on the screen. In either case you can scroll back and forth from year to year by navigation keys at the bottom.
No. PlanMode is fully self-contained app. All computations and scenario generation takes place within your device. No data is transmitted or shared.
Let’s assume the following options are available-
Lease it for $500 per month for 84 months with $1,000 upfront payment or purchase it for $40,000 in total. If purchased we assume that the asset will depreciate about 18% per year.
For the sake of this example we assume you are Single and have $100,000 annual income in total and get 4% return on your savings where you have $75,000 currently available. The purchase will be made from these savings.
Enter the profile data first. Then enter the first choice and activate Compare (static) feature. Now zero out the first choice and enter the second choice. At this point a red or green display line will represent the cumulative difference of the second choice versus the first over the life of the lease-
Here are the entries from scratch if your profile data does not exist-
Options, Settings, Planning Span, ENTER 7 ----- indicates 7 year planning span
Customize Results, Result Display, 2nd column, ENTER 7 ------ to show 7th year in the result window (optional)
Data, Projection Defaults, Bank Interest Rate, ENTER 4 ------ indicates 4% interest on savings
Additional Items, Purchased Assets, ENTER -18 ------ indicates 18% annual depreciation
Data, Cash Accounts tab, Savings Account box, ENTER 75000 ------ Savings account balance
Data, Income tab, Wage, Salary box, ENTER 100000 ------ annual income
Advanced, Non Recurring Data, Expense, Major Purchase, 1st Purchase Year, ENTER 2014 ------ purchase year – option 1
Purchase Amount 1, ENTER 40000 ------ purchase amount if purchased – option 1
Advanced, Customize Results, Plan Title, ENTER Purchase Option ------ optional title for this computation
The result window should display cumulative financial comparison at the end of the 7th year under each choice. At the bottom of this screen a red or green value is displayed to highlight the difference.
Note - The results you get will largely depend on the details and accuracy in depicting your default financial profile. The closer your profile is to reality the better the quality of the results are.