Create a forecast plan

Create a forecast plan after the budget plan is promoted.

Before you begin

Role required: budget_admin, budget_analyst, budget_owner

Procedure

  1. Navigate to Financial Planning > Budget Planning > Forecast Plans.
  2. Click New in the Forecast Plans list view.
  3. Fill in the Forecast Plan form fields (see table).
    Field Description
    Name Descriptive name of the plan.
    Parent Forecast Plan The forecast plan to which this plan rolls up to. Select a budget plan from the choice list. You can also create a budget plan.
    Budget Key The key, generated by the budget model, which links the budget plan to actual cost centers and departments.
    Budget Owner The owner of the plan. You must be associated with the budget key as a budget key owner.
    Budget plan Budget plan against which the current forecasting is performed.
    Forecast period The monthly period from the fiscal calendar to which the forecast plan pertains. You can associate the plan to only one fiscal period.
    Operating expenditure Total operating expenditure incurred until the forecast period.
    Capital expenditure Total capital expenditure incurred until the forecast period.
    GL Expenditure Total expenditure from the raw GL lines. Click the hyperlink to take you to the list of GL lines for the current budget key.
    Capital Target A target for capital expenses is determined by the intended budget key and fiscal period. If no target is determined for the key and fiscal period combination, create one.
  4. Click the Form Context menu.
  5. Select Save. The Related Links appear.
  6. Click Preview to see what your forecast plan looks like.

    The Forecast Preview page appears like the Budget Console, except that you cannot modify the Budget Model, Budget Key, and Fiscal Period. The data default from the pre-promoted forecast plan and include subplans.

  7. Click Add button to select the budget items and add them to the budget plan.