What is a Forecast Schedule Definition?
A forecast schedule definition lets you define how revenue should be apportioned when you run Generate Forecasts. You define the proportion of revenue to be forecast and at what intervals. Once you have created a forecast schedule definition, you can assign it to one or more recognition templates.
Forecast schedule definitions are optional. If you do not assign a forecast schedule definition to a template, forecast revenue is apportioned according to the template's own settings. For example, if you recognize revenue upon completion (Template Type=Deliverable) all revenue will be forecast on the delivery date, if you recognize revenue at monthly intervals (Template Type = Equal Split - Monthly) revenue will be forecast monthly, and if you recognize revenue using % complete (Template = % Complete) all revenue will be forecast on the completion date because the system does not have any information on how the % complete value will change over time. By creating a forecast schedule definition and assigning it to the template, you can calculate forecast values using a different rule.
Regardless of whether or not you use a forecast schedule definition, you can modify forecast amounts before submitting.
Illustration of Using a Forecast Schedule Definition on a % Complete Template
Illustration of Using a Forecast Schedule Definition on an Equal Split Template
Forecasting at Primary Object Level
You might decide to forecast revenue at your primary object level, and to recognize revenue on objects at the lowest level in your object hierarchy. In this scenario a primary object would have a recognition settings record of type Forecast and its associated recognition template would have a forecast schedule definition. Whereas the recognition settings records for source objects at the lowest level in your object hierarchy would be of type Actual and their associated recognition template would not have a forecast schedule definition.