Generating forecast
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Select the “Generate Forecast” link under the “Management Accounting” business component.
The "Generate Forecast" page appears.
Enter the following in the “Forecast Details” group box.
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Forecast # |
The identification number of the forecast. Do not input any value, if you are generating the forecast for the first time. Help facility available |
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Note: The system allots the forecast # after the forecast is processed for the first time. An amendment # is allotted to the forecast every time it is modified. The amendment # is incremented sequentially with every change, though the forecast # remains the same throughout. |
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Amendment # |
Use the drop-down list box to select the amendment of the forecast. The system lists the amendments available for the forecast. |
Note: If you have not modified the forecast till now, its amendment # will be 0.
The system displays the following.
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Status |
The status of the forecast. |
Enter the following in the “Forecast Details” group box.
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CC Structure ID |
Use the drop-down list box to select the cost center structure want to generate the forecast. The system displays the cost center structures defined in the Cost Setup component with an Active status. |
The system displays the following.
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CC Structure Description |
The name / description of the cost center structure. |
Enter the following in the “Forecast Details” group box.
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CE Structure ID |
The cost element structure want to generate the forecast. The system displays the cost element structures associated with the cost center structure that you select in the “CC Structure ID” field. Help facility available |
The system displays the following.
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CE Structure Description |
The name/description of the cost element structure. |
Enter the following in the “Forecast Details” group box to generate the projected revenues/costs.
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Financial Year |
The financial year of the forecast. The system defaults the current financial year in this field. |
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Financial Period From |
The financial period in the selected financial year. The system displays the financial periods defined for the selected financial year. |
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No of Periods |
The number of periods beginning from the date specified in the “Financial Period From” field. |
Note: The period that you specify for generating the forecast must span the effective period defined for the forecast.
Enter the following in the “Budget Details” group box to update the budget with the forecast details.
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Budget # |
The identification number of the budget. Help facility available |
The system displays the following.
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Version # |
The current version number of the budget. |
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Effective Date |
The date till which the budget is valid. |
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Expiry Date |
The date after which the budget becomes invalid. |
Select the “Process” pushbutton.
The system generates a unique # for identifying the forecast. The system creates the forecast beginning from the financial period selected in the “Financial Period From” for the number of financial periods specified in the “No of Periods”. For example, if you have selected January as the starting financial period, the financial period being 2006 and 6 as the number of periods, the period of forecast will be January -June, 2006.
Note: The status of the forecast is set to “Partly Processed”.
Select the “Update Forecast To Budget” pushbutton.
The system updates the budget identified by the specified budget #.
Select the “Export To Excel” pushbutton.
An Excel sheet filled with the forecast details opens up.
The “Generate Forecast” page computes the projected revenues/costs for a cost element for a specified period. This is carried out using the forecast logic previously defined in the “Maintain Forecasting Base” activity.