Forecasting Revenue Manually

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.

To forecast revenue manually:

  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 Enter Forecasts. Source records that meet your filter criteria are displayed. Forecasts that you have previously entered for these source records, but not submitted, are loaded automatically. If you have not previously entered forecast values for a source record, its values will be shown as 0.00 (zero).
  7. Enter forecast amounts for the appropriate periods in the revenue forecast schedule on the right. You can enter amounts as monetary values or as percentages depending on what is selected in the Show As picklist. If your forecasts exceed the Total Revenue, the over-allocation will be highlighted in red. Draft revenue forecast transactions are saved automatically as you enter forecasts.
  8. Click Submit to create revenue forecast transactions for the selected lines. The Save Forecast Transaction dialog is displayed.
  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.