Calculation tool
Which month does your cash run out?
Nakit Akışı Hesaplayıcı
Multi-currency cash flow forecasting — open method, open verification
Answer twelve questions and we show you which month cash gets tight, how much financing you need, and which of your assumptions is the most fragile. The calculation runs entirely in your browser — nothing is sent to a server and no data is collected.
Calculator
The tool is in Turkish. The calculation runs in your browser; your inputs disappear when you close the page.
Method
The model splits cash flow into five categories with a subtotal between each. This is the layout banks and investors are used to reading: it is clear where each question is answered.
- 01
Cash flow from operations
Cash and term collections, supplier payments, wages and payroll taxes, other operating costs, inventory investment and contingency. Inventory investment is its own line: in a growing business it is the largest cash absorber, and most models omit it entirely.
- 02
Cash flow before capex
VAT declaration, corporate and provisional tax, interest expense and interest income. Interest sits here; principal belongs to financing. Mixing the two breaks covenant calculations.
- 03
Free cash flow
What remains after maintenance capex. Maintenance and growth capex are separate lines; combining them hides whether the business funds itself.
- 04
Cash flow before dividends
After growth capex and other asset movements. This is the figure a distribution decision should actually be based on.
- 05
Closing balance and total liquidity
Closing balance after drawdowns, principal repayments, capital increases and FX conversions. Alongside it: available credit line and total liquidity. If cash goes negative but your line covers it the scenario is financeable; if not, the model says so explicitly.
Rules applied
Each currency is forecast separately
Foreign currency items are not collapsed into TRY. Each currency gets its own statement, then consolidates: flows at the period average rate, balances at the month-end rate. The difference is FX revaluation — not cash — and is reported on a separate reconciliation line.
Revenue is indexed too
Indexing costs to inflation while holding revenue flat sinks the company on paper. Volume and price are indexed separately, and price increases are an input independent of cost inflation. The lag before costs reach prices is modelled — this is where margin erosion comes from.
VAT carryforward is not lost
When the base turns negative the deduction right does not evaporate; it carries forward indefinitely. Input VAT arises in the invoice period, not the payment period, and capex VAT is included.
Tax is derived from the base
No fixed instalments. When profit falls, tax falls; losses offset against later years. Depreciation is not a cash line but reduces the taxable base — so the model keeps two separate ledgers.
Interest on the average balance
If revolver interest is computed only from the prior month’s closing balance, a month with a large mid-month outflow appears interest-free — precisely the month that should raise a flag. The model uses the period average. Where debt accrues interest, positive cash earns it too.
Timing shifts are not losses
When collections slip, amounts pushed beyond the horizon are not shown as lost; they are reported as the closing receivable balance. The balance fell and receivables rose — total wealth is unchanged.
How it was verified
- 881
- passing automated tests
- 3
- independent implementations (Python · JavaScript · Excel)
- 1e-6
- comparison tolerance — largest observed difference 4.8e-07
- 18/18
- forbidden-practice items audited; 17 backed by passing tests
The same calculation was written independently in three languages: a Python engine, the JavaScript in your browser, and Excel formulas. All three must produce identical results for identical inputs — every line, every period, within one part in a million. Two independent implementations are unlikely to make the same logical error at the same time, which is why all three exist. We also verified that the tests actually measure something: deliberate faults were injected into the code and all 18 of them were caught. These figures were measured on 25 August 2026; the test count grows as the model develops, while the tolerance and the verification method stay the same.
What it does not cover
- This is a planning tool, not investment, credit or tax advice. Make your decisions together with your accountant and your bank.
- The calculator is a funnel, not the full model: inventory investment, capex, dividends, doubtful receivables and depreciation are not modelled. The detailed model includes all of them.
- Interest rates and FX expectations are market assumptions, not regulation. Confirm them with your own bank.
- Inflation accounting (TAS 29) is not modelled. It does not directly affect cash flow but may affect the taxable base.
- The taxable base includes only term-loan interest; revolver interest and deposit income are excluded. This is a deliberate simplification that keeps the calculation from becoming circular.
Tax parameters
Tax rates and the calendar were checked against Turkish Revenue Administration and Social Security Institution sources on 25 August 2026: standard VAT 20% with monthly filing, corporate tax 25% (30% for banks and financial institutions), four provisional tax periods per year, BITT 5% on commercial loans, employer social security 23.75%, and 17.5% withholding on TRY deposits up to six months. Tax legislation changes; consult your accountant for your own situation.
This calculation tells you which month gets tight. If you want to discuss why — and what to do about it — let us build the detailed five-category model together.
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