Revenue Forecast > Create a Net Revenue Forecast

The net revenue forecast is created from the finance & administration module > GL > net revenue forecast. The creation of a net revenue forecast is usually managed by finance or operations, depending on your agency process.

ON THIS PAGE YOU WILL FIND:

ON THIS PAGE YOU WILL FIND:
1 NRF CREATION 2 THE FURTHER OPTIONS MENU 3 ADDING A BUDGET 4 REMOVING A BUDGET 5 UPDATING/RECALCULATING THE NRF

NRF CREATION

In the finance & administration module > general ledger > revenue forecast
Click on the new revenue forecast icon

Complete the create new revenue forecast pop-up

FIELD	FUNCTION

FIELD	FUNCTION
Title	The name of the revenue forecast - we recommend something useful for example, the forecast period w/c DD/MM/YY
Method	Select the appropriate forecast method from the drop down - this will determine how the NRF is populated For more information: Revenue Forecast > Configuration
Per Date	This is the date the forecast will be run from. Actuals will populate all previous months within the financial year and forecast amount will populate in all future months (to job end date)
Only Actual	If this is checked it will populate the actualised revenue results only Useful when looking back at a financial year
Months	Allows you to extend the number of months you are forecasting revenue against
Companies	Allows you to select other companies within WorkBook in order to consolidate the forecast from multiple companies into one
Currency	Allows you to change the forecast currency
Copy manual edits from	Allows you to select a prior revenue forecast (with the same settings), to copy any manual edits across to the new revenue forecast

Click ok

Once created, WorkBook gives the forecast:

A unique ID number
Adds RF as a prefix to the title
Adds date created and creator as the suffix

THE FURTHER OPTIONS MENU

This menu gives you access to functionality such as adding a budget for comparison, publishing the revenue forecast to viewers and sending the revenue forecast to the responsible users to review, edit and approve.

Here is a brief synopsis of what each menu item can do.

MENU ITEM	FUNCTION

MENU ITEM	FUNCTION
Update entire revenue forecast	Recalculate values according to the RF settings, based upon the latest data available
Recalculate the forecast budgets
Recalculate the inter-company values
Publish/Unpublish	Publish an RF to viewers
Mark as active/inactive	Mark an RF as active or inactive Useful for filtering your NRF list
Delete current revenue forecast	Delete a forecast
Add a budget to the selected forecast	Manage budgets against a forecast for the purpose of comparing actuals and forecast revenue against the client targets
Remove a budget from the selected forecast
Review Actions	Send the RF records for review by the people responsible

ADDING A BUDGET

You can add a budget to the revenue forecast by:

Clicking on the revenue forecast options menu > and selecting add a budget to the selected forecast

Select your budget
Click ok

The budget will be displayed in the final column of the revenue forecast

To get more information about where the forecast numbers come from:

Hover over any client forecast cell

Colour Coding

Colour coding is a quick way to identify how the forecast is tracking against the budget

Green and yellow indicates whether the numbers are coming from jobs or pipeline records
Blue indicates the difference between budget and forecast

In this example, we’re looking at the total for this client:

Total yearly budget for this client is $77,000
The difference tells us at this point in time, we’re set to miss the budget by $21,050

REMOVING A BUDGET

You can remove a budget from the NRF by:

Clicking on the net revenue forecast options menu > and selecting remove a budget from the selected forecast

Select your budget
Click ok

UPDATING/RECALCULATING THE NRF

There are a few ways to recalculate your net revenue forecast to include the latest information.

Option 1: Update Entire NRF

Clicking on the net revenue forecast options menu > and selecting update entire net revenue forecast

You can then choose to:
- Update and recalculate everything on the NRF or…
- Keep any manually edited values that have been added to the NRF so far, and update everything else

Option 2: Recalculate the Forecast Budgets

Clicking on the net revenue forecast options menu > and selecting recalculate the forecast budgets

In the example below the previous budget was $60,000

Once the budget has been recalculated, the NRF budget has been updated to $70,000

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