Revenue Forecasting Basics

This topic describes the following:

Custom Objects Used in Revenue Forecasting

The following custom objects in PSA are used to support Revenue Forecasting.

Custom Objects
Object Description Related Information
Permission Control Stores the permission controls created on the Permission Controls tab granting individual resources cascading view or adjust access to regions, practices, groups, projects and opportunities. Permission Control Fields
Revenue Forecast Stores the revenue forecast for a project or an opportunity. Revenue Forecast Fields
Revenue Forecast Batch Lock Indicates whether the revenue forecast batch job is currently running.
This object is for internal use only.		 Revenue Forecast Batch Lock Fields
Revenue Forecast Batch Log Stores details of any errors that occurred when a revenue forecast was run.
 Revenue Forecast Batch Log Fields
Revenue Forecast Batch Status Stores the status of Revenue Forecasting batch Apex jobs. Revenue Forecast Batch Status Fields
Revenue Forecast Setup Stores the settings for running a revenue forecast. Revenue Forecast Setup Fields
Revenue Forecast Type Stores the revenue forecast for a relevant object, for example Milestone or Est Vs Actuals. Revenue Forecast Type Fields
Revenue Forecast Version Stores the records used in different versions of a revenue forecast. Revenue Forecast Version Fields
Revenue Forecast Version Adjustment Stores adjustments to values on revenue forecast version detail records. Revenue Forecast Version Adjustment Fields
Revenue Forecast Version Batch Log Stores details of any errors that occurred when a revenue forecast version was created. Revenue Forecast Version Batch Log Fields
Revenue Forecast Version Detail Stores the detail records used by different versions of a revenue forecast. Revenue Forecast Version Detail Fields

Revenue Forecasting Permissions

Permission Controls

Optional permission controls manage which data is visible or adjustable on the Review Forecast Version page.

Permission controls only apply when the Respect Permission Controls field is selected on the active forecast setup record. Permission controls apply to the region, practice, or group by which the revenue forecast is grouped. For example, when a revenue forecast is grouped by a region, permission controls for regions are applied.

When Revenue Forecast Version View is selected, this field controls the records displayed to users. This field always cascades, even when Cascading Permission is deselected.

When Revenue Forecast Version Adjust is selected, this field controls the records that users can create adjustments against. This field always respects Cascading Permission.

The view and adjust permission controls can be applied at the region, practice, group, project, or opportunity level. Opportunity hierarchies are not supported in PSA and therefore cascading permission controls are not applied.

When a user does not have access to the parent RPG for a project or opportunity, the project or opportunity is displayed in the Ungrouped section.

View or adjust permission controls for milestones are inherited from the project they belong to. For example, if a user has a permission control to adjust the revenue forecasting on a project, they can also edit any milestones on the project.

You can select the following fields to set up PSA to respect cascading permission controls when users view or adjust revenue forecast versions on the Review Forecast Version page.

Fields for Respecting Cascading Permission Controls
Field Object Description Related Information
Respect Permission Controls Revenue Forecast Setup

Indicates whether permission controls are respected when viewing or adjusting revenue forecast versions on the Review Forecast Version page. View or adjust permission controls provide access to regions, practices, groups, projects and opportunities. For example, when a revenue forecast is grouped by a region, permission controls for regions are applied.

 

When false, permission controls are not applied on the Review Forecast Version page.

 

Regardless of this field, PSA permission sets are still always required to view and review revenue forecasts and revenue forecast versions. For more information, see Permission Sets.

 Setting up Forecasting
Revenue Forecast Version Adjust Permission Control

Indicates whether the user has permissions to adjust revenue forecast version details for specific regions, practices, groups, projects, and opportunities.

This permission control respects Cascading Permission.

Note:

If you are using this permission control, you also need to select Respect Permission Controls.
Revenue Forecast Version View Permission Control

Indicates whether the user has permissions to review revenue forecast version details for specific regions, practices, groups, projects, and opportunities.

This permission control always cascades even when Cascading Permission is deselected.

Note:

If you are using this permission control, you also need to select Respect Permission Controls.

Permission Sets

You can assign the following permission sets to users for access to Revenue Forecasting:

Permission Sets
Permission Set Name Description
PSA - Adjust Forecast Version Perform management adjustments to revenue forecast versions.
PSA - Close Time Period for Forecasting Mark time periods as closed for forecasting.
PSA - Configure Recognition Methods for Forecasting Set the recognition method on records used in revenue forecast calculations.
PSA - Configure Forecast Setup Configure the setup for revenue forecasts and revenue forecast versions, and schedule revenue forecast versions.
PSA - Delete Forecasts Delete records for the following: revenue forecasts, revenue forecast batch status, revenue forecast versions, and revenue forecast version adjustments.
PSA - Lock Forecast Version Lock revenue forecast versions, so that adjustments can no longer be made.
PSA - Run Forecast Run revenue forecasts.
PSA - View Forecast View revenue forecasts and revenue forecast versions for relevant projects and opportunities. This permission set is suitable for users who need to view forecasts for their own projects and opportunities, for example, project managers.
PSA - View All Forecasts View revenue forecasts and revenue forecast versions for projects and opportunities. This permission set is suitable for users who need to view forecasts for the regions, practices, and groups they cover and for all projects and opportunities, for example, regional managers and services leaders.
Tip:

The PSA - Revenue Forecast - Run custom permission is included in the relevant permission sets above and is required for you to run a revenue forecast. You can use this custom permission in other permission sets, if required.

Permission Set Groups

The following permission set groups include Revenue Forecasting permissions:

  • Certinia - PSA - Ops Team Member
  • Certinia - PSA - Project Manager
  • Certinia - PSA - Services Leader
  • Certinia - PSA - System Administrator

For more information, see PSA Functional Permissions Overview.

Revenue Forecast Record Ownership

When a revenue forecast is first run, the following rules apply:

  • Forecasts for an opportunity are owned by the user in the Opportunity Owner field.
  • Forecasts for a project are owned by the user in the Project Manager field. If blank, the forecasts are owned by the project owner.
  • If the above are blank, the forecasts are owned by the user generating the revenue forecasts.

If you change the project manager or opportunity owner after PSA has generated revenue forecasts for the related project or opportunity, ownership of the associated revenue forecast records moves to the new project manager or opportunity owner, provided they are active and have Read permission for the following objects:

  • Revenue Forecast
  • Revenue Forecast Type

If the new owner does not have the required permissions or is inactive, ownership of the records remains with the user who originally generated the forecasts.

Revenue Forecasting Exchange Rates

For maximum accuracy, Revenue Forecasting calculations use the currency exchange rate that was active on a record's actual date, such as the timecard end date or expense date. For scheduled records or unscheduled revenue, today's exchange rate is used.

If no exchange rates exist for a historical actual date, the affected records are omitted from the revenue forecast. You can check the Revenue Forecast Batch Logs related list to view the details.

For historical monthly time periods, the exchange rate that was current at the end of the corresponding monthly time period is used. For current and future monthly time periods, the exchange rate that was current on the date the version was created is used.

If the currency on a record differs from the project currency, Revenue Forecasting uses either PSA or Salesforce currency conversions to calculate the value, depending on your org setup. This might happen, for example, with an expense record if the expense was incurred in another country. In this case, the revenue forecast uses the exchange rate that applied on the expense date.

When reviewing revenue forecast versions, revenue is displayed in the corporate currency by default to enable you to compare values across different currencies. In the Forecast Breakdown grid on the Review Forecast Version page, you can toggle Show Local Currency to switch between viewing values in corporate currency or local currency.

For more information, see Reviewing Revenue Forecast Versions.

Revenue Forecasting Rounding

Revenue Forecasting uses half-up rounding to the number of decimal places of the relevant currency. For example:

  • 3.334 is 3.33 to two decimal places
  • 3.335 is 3.34 to two decimal places
  • 3.336 is 3.34 to two decimal places

The difference between the number before and after rounding is carried forward to the next month for recognized revenue. For pending recognition, the difference is carried to scheduled revenue and then to unscheduled revenue within the monthly time period, before being rolled over to the next month's pending recognition.

For time and materials projects recognized on delivery, when you run a revenue forecast, numbers are rounded to the number of decimal places of the relevant currency immediately, and Revenue Forecasting adds the revenue to the relevant monthly time period.

For opportunities and for fixed fee projects and milestones, when remaining revenue is rolled over to the next monthly time period due to rounding, Revenue Forecasting adds any remaining amounts to months where the total revenue at that point should round up, as shown in the example below.

For detailed information on how revenue forecast calculations work, see Deliverable Recognition Method, Equal Split Recognition Method, and % Complete Recognition Method.

Example

A fixed fee project spans three months, from April to June. The revenue is split equally between the three months.

Total scheduled revenue over the project duration = $10,000.

The amounts in each month are as shown.

Revenue Split Details
Month Calculation

Amount $

Total Revenue $
April 10,000/3 3,333.33 3,333.33
May 10,000/3 3,333.34 6,666.67
June 10,000/3 3,333.33 10,000.00

Any remaining amount is added on to months where the total revenue at that point should round up. This means the total revenue in May should be $6,666.67 so the remaining $0.01 is added to the revenue amount for May.