The State Changers meeting focused on the challenges of breaking down and projecting the financials of contracts within a no-code system named "Xano". A primary scenario discussed was how to allocate payments from a deal that was presented in December but expected to be paid in three installments: 50% upfront in December, 25% three weeks later (either in late December or early January), and the final 25% installment three weeks after that (potentially in January or February).
The problem at hand involved both displaying the completed deal's full value in the initial month, while also breaking that value down into upcoming installments for financial projection and revenue recognition purposes. In the discussed scenario, upcoming referred to income that was guaranteed but not yet invoiced. The State Changers explored different methods to tackle this issue; one proposed approach involved creating a detailed list of upcoming events and dates, which could be summarized later. Another suggestion emphasized building it into the database, which would allow for the use of query calls for summary - during this process, an array of cash flows and dates would be created, with the use of epoch dates (convertible to months) being particularly crucial. The ultimate objective was to create an accurate projection of when and how future cashflows would be realized from closed deals, an essential component for planning and managing cash flow effectively. Consequently, it was suggested that any solution would need careful validation, potentially using hand calculations or tools like Excel or Sheets, to ensure the accuracy of the results derived from the no-code system.
(Source: Office Hours 2/27 )
