Forecasting Revenue Automatically

Warning:

The Forecast Revenue feature will be removed from Spring 2025. We recommend you migrate to recognition schedules and use the Revenue Scheduled By Period report (RM Report Templates folder) or build your own reports on recognition schedule data to gain insight into a company's future revenue position. For information about migrating to recognition schedules, see Migrating from Actuals to Recognition Schedules.

Alternatively if Revenue Management is integrated with PSA, you can use PSA's Revenue Forecasting feature.

When forecasting revenue automatically, a batch job calculates the forecast values using the calculation type on the source record's forecast recognition template, or using the forecast schedule definition if one is specified on the template.

To forecast revenue automatically:

  1. Click the Forecast Revenue tab.
  2. Optionally load a saved view by clicking the arrow next to Select View in the top bar, select a shared recognition view from the picklist and click Load. See Managing Recognition Views for more information.
  3. Select a source object tab or click the plus sign on the right to open another tab. The plus sign is not displayed if all source object tabs are already open.
  4. Review and edit the current filter criteria as described in Filtering your Source Data.
  5. Select a currency from the Currency picklist, or accept the default currency shown. Only source records in the selected currency will be retrieved.
  6. Click Generate Forecasts. The batch job may take some time depending upon how many source records meet your filter criteria.
  7. Review the source records and their generated revenue forecast schedule. Make edits to the forecasts as required. You can enter amounts as monetary values or as percentages depending on what is selected in the Show As picklist. Any edits you make to the forecast amounts will be lost if you click Generate Forecasts again.
  8. Click Submit to create revenue forecast transactions for the selected lines. The Save Forecast Transaction dialog displays.
  9. Enter a description and select the appropriate category (Best, Expected, Worst) for these forecasts. Select the Lock checkbox if you want to prevent this set of forecast transactions from being edited.
  10. Click Create New Version to create the forecast transactions. Updating existing forecast transactions is explained in Reviewing and Updating Existing Forecasts.

Depending on your custom settings, your Actual vs. Forecast records are created when you commit/save your transactions. You can turn this feature on or off by configuring your custom settings for Revenue Management.