Training Hub
Training Hub
Forecasting

Forecasting

What is Forecasting?

We like to say that a budget is a living document, and forecasting is how we update it throughout the year.

Monthly, you should evaluate your current financial performance and economic conditions (typically through variance reporting) to estimate and project future revenue and expenses.

Please keep your original budgeting principles in mind while forecasting and try to maintain as close as is possible to your original net for your program/department/branch (i.e., don’t add a lot of expenses without also adding revenue as a way to pay for them!).

If you have questions, please contact your supervisor and/or accounting.

Where to Find Forecasts:

Top Menu -> Budgets -> Actuals/Budget Entry (F6) or Actuals/Budget Multi-Account Entry

image

Actuals/Budget Entry:

image

Either type in or use the search icon to put in the account (GL String) you’d like to forecast.

If you can’t find it with the search icon, make sure your filters are off!

Set your view to Next Year Budget.

You can change anything in the yellow boxes. Your forecast will automatically populate with your budgeted numbers unless you change it.

You can double click to use the components screen or just change the number in the yellow box.

And make sure to save when you’re done!

Actuals/Budgets Multi-Account Entry:

You will first get this pop up:

image

Choose which accounts you want to view using the pick list or display all account you have budgeting access to with the button at the top. You will then get a screen that looks like this:

image

Set your view to CY Actual/Forecast and NY Budget.

You can change anything in the yellow boxes. Your forecast will automatically populate with your budgeted numbers unless you change it.

You can double click to use the components screen or just change the number in the yellow box.

Make sure to save a lot!! You have to save both from a component screen (if you use one) and from the  main grid pictured here. Even if you though you’ve saved, save again before you leave the page. You could potentially lose a lot of work if you don’t.

← Previous

Budget