Manage Actual vs Forecast Records

Warning:

We're retiring the Forecast Revenue feature and it'll be deactivated in a future release, no sooner than 12 months from now. We'll continue to support the Forecast Revenue feature, but recommend that you now:

• Use the Revenue Scheduled By Period report in the RM Report Templates folder.
• Build your own reports on recognition schedule data to gain insight into a company's future revenue position.

Work with your administrator to start using recognition schedules and related reports. 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.

If the Create Actual vs Forecast in real time field in the Revenue Management Settings custom setting is not enabled, you will need to create your Actual vs Forecast records manually. You might also want to recalculate your Actual vs Forecast records manually if you want to be certain that they reflect the latest recognition transactions and revenue forecast transactions. You must recalculate after discarding transactions if you want your Actual vs. Forecast data to be correct.

Note:

This functionality only updates Actual vs. Forecast records. It does not modify recognition transactions and revenue forecast transactions.

To manage your Actual vs. Forecast records manually:

1. Open the Revenue Management Task Launcher tab.
2. Click Manage Actual vs Forecast.
3. On the Manage Actual vs Forecast page, select the action that you want to perform: Recalculate, Update or Delete.
4. Choose which records you want to perform the action on: Actuals, Forecasts or Both. The Delete and Recalculate actions can only be performed on both actual and forecast records.
5. Select the years that you want to perform the action on. The years shown here are the years in your recognition calendar.
6. Click Perform to proceed. You will be notified by email of the success or failure of the process.

Note that:

• Update Actuals only processes recognition transaction lines that have not already been included in an Actual vs. Forecast record. Actual values on existing Actual vs. Forecast records are updated. If an Actual vs. Forecast record does not already exist, one is created and the actual value is populated.
• Update Forecasts replaces forecast values on existing Actual vs. Forecast records. If an Actual vs. Forecast record does not already exist, one is created and the forecast value is populated.
• Recalculate Both deletes the existing Actual vs. Forecast records, then processes all recognition transactions (regardless of whether or not a transaction line has already been included in an Actual vs. Forecast record) and revenue forecast transactions to create new Actual vs. Forecast records.