*Overview-Forecasting
Basic Forecasting
Create a forecast by duplicating an original budget
- Use the Manage Budgets module to identify a forecast (checkbox IsForecast) to gray-out the first part of the year
- The sub-total of that account will use actual for the first part of the year and budget for the remaining months
- When you close the remaining months, simply change the actual cutoff period from month 1 to month X every month until the last month of the fiscal year
More Complex Forecasting
When you want to have a single row of data available in each account as a point of reference using set parameters
- Use the forecast builder tool to specify which months will pull from actual and what source you will use for the remaining months (prior year, current budget, year to date, average run rate, etc.)
- Then use the import budget assumptions tool to insert 1 row of data per account into the single line-item detail