Generate Forecast – A summary of the activity

Through this activity, you can generate the projected revenues/costs for a cost element for a specified period, based on a forecast.

Prior to this, you must define the forecast for the cost element in the “Maintain Forecasting Basis “ activity. You define a forecast for a specific cost center, cost element, financial year and financial period combination.

The system allots a unique number for identifying the forecast after it is processed, and sets the status of the forecast to “Partly Processed”.

Getting familiar with the pages inside

What you can do in this activity

Update the budget with the forecast

The forecasted revenues and costs for a cost element can be updated in the budget that you specified in the “Maintain Forecasting Bases” activity. In this activity, you specify the budget #, version # as well as the effective and expiry dates of the budget into which the system exports the forecasted revenues and costs on the completion of processing.  You can export the forecast to the budget any number of times.

However, you can update the budget only if it is not already confirmed.

This feature is optional and can be used when required.

Generate the forecast report

You can look at the details of the forecasted revenues and costs for cost elements in an Excel sheet in the following format,

4 The financial periods covered by the forecast are displayed as columns

4 The cost elements are displayed as row heads and the forecasted values under the row heads