How LivePlan Uses AI to Help Forecast Your Revenue and Expenses

How is your business bringing in money? What are your operating expenses?

These are not easy questions—especially when first starting. You may have some ideas, but have you accounted for everything? 

Now you can with the AI-powered LivePlan Assistant. Its latest update brings customized recommendations for revenue streams and expenses. 

Skip the guesswork. Jump right into building a useful financial forecast. 

Interested in seeing what else the LivePlan Assistant can do? Click here.

How it works

1. Head over to the Forecast tab. Select either the Revenue or Expenses financial table where you’ll see a dialogue box.

2. If prompted, enter a short description of your business. (You may have already added a description when setting up your LivePlan account).

3. The LivePlan Assistant will then suggest revenue streams or expense categories based on your description. 

4. If you see an option that you like, click on it to bring it into your forecast.

It’s that simple.

Just start selecting and editing your revenue streams or expenses. And if you ever need to adjust your company description, go to the company options menu.

How this helps with your planning

You probably have ideas for how your business makes money and what your basic expenses are.

But do you know how to represent them in your financial forecast? The LivePlan Assistant helps you:

• Translate your ideas into a forecast that makes sense.
• Get additional ideas for revenue streams and expenses, and help you make sure you don’t miss anything important.
• Ensure that you’re creating a forecast that lenders and investors will understand.

Build a better forecast with LivePlan Assistant

Suggested Revenue and Expense Streams features are now available for all Standard and Premium users. 

Don’t forget, the LivePlan Assistant can also help you write and rewrite sections of your plan. Based on your feedback, we recently added an option that fixes typos and grammatical mistakes—so be sure to check it out!

And if you’re unsure of why we’re adding AI features, you can read about our approach and mission behind these additions.

As always, if you have any questions about the AI Assistant or other LivePlan features, reach out to our Customer Advocacy Team for assistance.

Kody Wirth

Kody currently works as the Inbound and Content Marketing Specialist at Palo Alto Software and runs editorial for both LivePlan and Bplans, working with various freelance specialists and in-house writers. A graduate of the University of Oregon, he specializes in SEO research, content writing, and branding.

Posted in LivePlan Updates