Anticipate your business' gross profit, invoicing and costs in one comprehensive forecast report.
Content
- How to give permissions to the forecast report
- Where to find the forecast report
- How the forecast report works
- Summary view
- By account view
- By project view
Description
First, what is gross profit? It's the amount of income that remains after accounting for all the bills, expenses, additional income streams, and operating costs, not including internal hourly own cost.
This forecast report helps you report on and anticipate your company's gross profit, invoicing (scheduled and invoiced) and costs (purchase orders and bills). You can look at this report as an overview, by account, and by project.
How to give permissions to the forecast report
Go to Settings > User Management > Permissions and scroll down to the section called Reports. Here you can find permissions for Forecast report. You can choose to give permissions to view or edit, or both, for individual users, groups and teams.
Where to find the forecast report
Once you've got the permissions to the report, click Reports on the top of the view, and then click Forecast.
How the forecast report works
Views on the forecast report
There are three different kinds of forecast reports: summary, by account, and by project. The first one shows your forecasts for the whole company, by account shows forecasts for each account, and by project shows forecasts for each project.
Filters in the forecast report
To narrow down the search, use the search filters to see the forecasts you'd like to see. Above the report itself, you can filter by:
Financial year
You can get forecasts for each financial year (because it's a financial year-specific report).
Funnel
You can get forecasts for your won deals but can also add your sales pipeline to the forecast by clicking on the Funnel filter and selecting the pipelines you'd like.
You can also get these reports with sales pipelines included adjusted by the probability of deals closing by clicking the view icon in the top right-hand corner of the view. This will give you an even more accurate forecast on your gross profit, and future invoices and costs.
You can also decide which invoices, purchase orders and bills you'd like to include in the forecast report. You can include:
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Values with probabilities (if sales pipeline included)
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Scheduled invoices
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Automatic invoices
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Purchase orders (waiting and sent)
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Invoices in waiting status
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Draft invoices
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Bills in waiting status
You can also get more search filters by clicking Add filter. Finally, you can save searches by clicking Save search. When you'd like to use a search you've saved, just select it from the Saved searches filter next to the Funnel filter.
Export the forecast report
You can export the forecasts you want by clicking the Export icon in the top right-hand corner.
Summary view
In the summary view of the forecast report, you can take a look at the gross profit, invoicing total, and costs total for each month of the selected financial year and the pipelines of your choice.
Here are the rows of the summary explained:
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Gross Profit = the amount of income that remains after accounting for all the bills, expenses, additional income streams, and operating costs, not including internal hourly own cost
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Invoicing total = scheduled invoicing total + invoiced total
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Scheduled invoicing = the total sum of scheduled and automatic invoices that have not been invoiced yet
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Invoiced = the total sum of invoices that have been approved and sent to customers
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Costs total = forecasted costs + actual costs
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Forecasted costs = upcoming costs (purchase orders that have been sent or are in waiting status)
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Actual costs = costs that have already come (bills that have come to Taimer and have been targeted to projects)
These details enable you to forecast your profit and loss for the financial year, anticipate the revenue and costs coming in. And when you add your sales pipeline with probabilities as well, you can accurately forecast your profit and loss even before you know if your deals will close or not.
By account view
The By account forecast report shows you the total and monthly gross profit per account. All the accounts are listed here.
You can filter accounts by financial year, funnel, and other filters as with the summary report. From the view icon in the top right-hand corner, you can include the following things in the report:
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Grouped accounts
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Sub-units
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Values with probability (if sales pipeline is included)
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Scheduled invoices
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Automatic invoices
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Purchase orders
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Invoices in waiting status
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Draft invoices
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Bills in waiting status
By project view
Like the by account, this lists the total and monthly gross profit but for projects instead of accounts. All projects are listed here.
You can filter projects by financial year, funnel, and other filters, as with the summary report. From the view icon in the top right-hand corner, you can include the following things in the report:
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Project tree
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Active projects
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Closed projects
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Projects on hold
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Grouped projects
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Values with probability (if sales pipeline is included)
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Scheduled invoices
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Automatic invoices
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Purchase orders
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Invoices in waiting status
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Draft invoices
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Bills in waiting status
