Creating & Managing Forecasts in Aorabook
This guide provides step-by-step instructions on how to create and configure financial forecasts using the Forecasts module. The Forecast module allows you to project future financial performance based on historical data, trends, and custom rules. This helps your organization anticipate future revenue, expenses, and cash flow, enabling more informed decision-making.
Accessing the Forecast Module:
Navigate to: Sidebar Menu > Account > Financial planning > Forecast
Creating a New Forecast:
To start a new forecast, click the +Add Forecast button located at the top left of the dashboard. You will be presented with the Create Forecast form. Fill in the following fields:
Forecast Name: Enter a descriptive name for your forecast.
Forecast For: Select the timeframe the forecast should cover. Options typically include "Rest of current year", "up to 2 or three years".
Forecast Using: Choose the method used to calculate the forecast. You can select options such as "Average of actuals", "Actuals from last fiscal year", or "Budget-based".
Use Actuals From: Select the historical period you want the system to use as a baseline for calculations (e.g., "Last 3 months", "Last 6 months", or "Last 12 months").
Optional rules setup:
This feature allows you to apply percentage-based adjustments to specific account categories to refine your forecast.
For each of the following account categories, you can set a rule:
Income Accounts
Cost of Sales Accounts
Expense Accounts
Other Income Accounts
Other Expense Accounts
To apply a rule:
Rule Direction: Use the dropdown menu to select whether you want to increase or decrease the projected amounts.
Rule Percentage: Enter the percentage value by which you want to adjust the accounts.
Note: If you do not wish to apply any rules, you can simply leave all Rule Percentage fields empty and click Next.
Reviewing and Editing the Forecast Grid:
Once you click Next from the Rules page, you will be redirected to the EDIT FORECAST page. This is the main workspace where the system generates the forecast figures based on your rules, and where you can make final manual adjustments.
Here is how to read and use this page:
Header Section Details
At the top of the page, you will see the settings you previously configured:
Forecast Name: The name you entered. You can click the Pencil icon to rename it if needed.
Period: Shows the start and end dates for this forecast.
Forecast Using: Displays the method used.
Batch Action: Users clear multiple forecast entries by selecting the row at once with a single click, instead of clearing each account individually.
Last Saved: Shows the exact time the forecast was last saved.
Settings: Click the green Settings button on the right to go back and adjust the Optional Rules if you want to reapply a different percentage.
Export/Print: Use the icons next to the Settings button to export the data to Excel or print the page.
Manual Adjustments: Although the system auto-calculated the forecast based on your rules, you can manually override any specific cell. Click directly on the number in a Forecast Column and type a new value if you need to adjust a specific account.
Copy to Right: Allows users to copy the entered forecast amount from the selected month to all the following months on the right with a single click. This helps quickly apply the same forecast amount across multiple periods.
The Data Grid Overview
The grid displays your Chart of Accounts along with the projected figures.
Actual Columns: The columns labeled "Actual" show your real historical data. These are locked and cannot be changed.
Forecast Columns: These columns show the projected amounts. They can be changed.
Total Column: Shows the sum of the forecasted months on the far right.
Understanding the Net Profit: At the very bottom of the grid, the Net Profit row shows your total income minus total expenses for each period. It is the "bottom line" of your forecast.
Actual Columns: Show your real historical profit or loss for past months.
Forecast Columns: Show projected profit (positive number) or loss (negative number) for upcoming months.
Total Column: Shows the cumulative net profit for the entire forecast period.
Expand and Collapse Accounts: The grid groups accounts by category. Click the small arrow next to a category to expand and see the individual ledger accounts underneath it. This allows you to see both the high-level totals and the detailed line items.
Saving the Forecast:
Once you are satisfied with the forecast figures and any manual adjustments you have made, choose one of the following options at the bottom of the screen:
Save: Click the orange Save button to save your progress and remain on the current page.
Save & Close: Click the green Save & Close button to save the final forecast and return to the main Forecasts dashboard.
Cancel: Clicking the green Cancel button will discard any unsaved changes and return you to the main dashboard.
Managing Existing Forecasts:
Once a forecast has been saved, it will appear in the main Forecasts dashboard table.
The table displays:
SL: The serial number.
Forecast Name: The name you assigned.
Forecast Type: The method used.
Period: The timeframe covered.
Last Modified: When it was last updated.
Action: Options to edit/view or delete the forecast.
To Edit/View a Saved Forecast: Locate the forecast in the list. Click the Action button (or Edit/view icon) on the right side. You will be taken back to the Edit Forecast Grid, where you can make further manual adjustments or click Settings to change the rules.
Delete: Click the Delete button to delete the forecast.
