Overview:
Revenue Forecasting provides a process for forecasting the spread of expected revenue for an unlimited number of periods into the future.
The forecast is a snapshot for a particular Revenue Forecasting Period, which can be updated as required until the period is closed (based on Control Parameters defined below).
The forecast can be at the header job level (which will display only the header jobs flagged for forecasting in Job Maintenance), which rolls all the related subjobs up into the header, or at the individual job level (which will display only jobs - of any level - flagged for forecasting in Job Maintenance).
The screen display allows for a window of 12 periods to be displayed at any one time. Forecast values before this 12-month window are displayed in Prior Period column.
The allowable forecast value, the To Bill value, is based on the revenue budget for a job and/or its subjobs less what has been invoiced for a job and/or its subjobs.
Screen Guide:
Setup
Criteria for Inclusion
First thing to do for a Job to be included when generating Revenue Forecast is to tick Revenue Forecast check box in Billing and GL tab on Job Maintenance.
the Job is not Finalised or it has a Finalised Date in the current forecast period or later.
The other criteria for jobs to display on the list depends on the value on Control Parameter 'Revenue Forecast Mode'
Where the Control Parameter 'Revenue Forecast Mode' is All, Both or Time:
This allows for a job to be included in the forecast where it has been invoiced and Finalised in the current reporting period.Where the Control Parameter 'Revenue Forecast Mode' is Header All, Header Both or Header Time, Jobs included are Level 1 Header Jobs. For these 'Header' options, by default all subjobs of the Level 1 Header job will be rolled up into the forecast for the job, regardless of whether the ' Forecast Revenue ' checkbox on Job Maintenance for the subjobs is ticked or not.
Parameter Name | Description | Valid Values |
Revenue Forecast Mode | This determines how revenue is forecasted per Job. The Both option provides for separate forecasts for Time (Activity Type) and Other costs. Time provides for forecasting time only. All provides for a single forecast of all revenue. The Header options are similarr but roll up the forecasts to the Header (Level 1) jobs. | All, Both, Time, Header All, Header Both, Header Time |
Revenue Forecast Year | Determines the depth of history used when calculating To Bill on the Revenue Forecast Management Screen. All will use all past periods when calculating the Revenue Budget and Billed to Date values used in the to Bill calculation. Current, will only look back to Period 1 of the current forecast year. | All, Current |
Revenue Forecast Closing | If set to This Period: For the Revenue Forecast Period displayed, if in Period Ends the AR flag for this Revenue Forecast Period is set to closed then the Generate, Rebuild and Refresh buttons in the Revenue Forecasting screen are greyed out to ensure no re-creation of previous forecast data. If set to Previous Period: For the Revenue Forecast Period displayed, if in Period Ends the AR flag for the period prior to this Revenue Forecast Period is set to closed then the Generate, If set to This Period: For the Revenue Forecast Period displayed, if in Period Ends the AR flag for this Revenue Forecast Period is set to closed then the Generate, Rebuild and Refresh buttons in the Revenue Forecasting screen are greyed out to ensure no re-creation of previous forecast data. If set to Previous Period: For the Revenue Forecast Period displayed, if in Period Ends the AR flag for the period prior to this Revenue Forecast Period is set to closed then the Generate, Rebuild and Refresh buttons in the Revenue Forecasting screen are greyed out to ensure no re-creation of previous forecast data. If set to None: The Generate, Rebuild and Refresh buttons in the Revenue Forecasting screen are always available | None, This Period, Prev Period |
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