Reporting - Add a Forecast in addition to a Budget, and include in Profit & Loss
Ability to insert forecasted figures into Xero and run a forecast report alongside the budget report. We get to half year and assess how on track we are with budget and more often than not it makes sense to adjust the forecast numbers for the remainder of the period but not lose sight of what the budget was in the first place.
If we're able to run a report with actuals for YTD and forecast for the remainder of the period it would be hugely helpful
Rene Fourie
shared this idea
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Andrew Lowe
commented
totally agree - really frustrating not currently possible
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Jay Luangtongplew
commented
I agree with the forecast. Ideally, managers would like to see Budget vs YTD Actuals + Forecasts so they can identify free cash flows by having oversight over areas of underspending and overspending. I would also suggest some kind of "encumbrance" for approved expenditure in the forecasts bracket. Items in the "encumbrance" include approved travel plans, purchase order and approved projects. These items have not yet incurred actual expenditure nor been legally committed to but they have been internally agreed to.