Learn how to import actuals, deactivate formulas, and copy data from month to month.
As the year progresses, you'll probably want to update your forecast on a regular basis.
In Budgyt this is easy to do.
- First, make sure you have a budget into which you can import your actual data. Go to Budgets > Manage Budgets, click the Add New button, and call it Actuals 2020 for example.
- We don't allow data to be imported directly into a budget that contains formulas or employee information in order to prevent users from accidentally overwriting your budget data with your actuals.
- Use the Import section to import your data to Actuals 2020 - let's say you're importing the first 3 months of actuals. You can learn more about importing here.
- Now let's create your new forecast. You'll want to have part actual data and part budget, so let's start by cloning your budget. Go to Budgets > Manage Budgets, and select the 2nd tool on the right hand end of the row containing the budget you wish to clone from, this is the Clone button.
- Clone to the same year, and give your new forecast a name - maybe we'll call it Forecast 2020 (3+9) - 3 months of actuals, 9 months of budget. Choose the years to clone - you'll definitely want to choose the budget year, and if you have copied previous years' data into the previous years in the budget you are cloning from, you may want to choose those years as well.
- Detailed will clone all sub category rows, Summarized will just copy across account/category totals.
- Hit Save, and you have a new forecast. This is an exact replica of the budget you cloned from. It has all the same formulas, data, and employee information.
- Now we need to copy Actual data into this forecast.
- First, we need to Deactivate the months into which we will copy actual data. This turns off the formulas and employee budgeting for those months but leaves them active for the budget months. To do this, click the edit tool (pencil icon) on the right of the row that contains your forecast in the Manage Budgets screen, then check the appropriate months in the deactivation section - in our example this would be 3 months.
- Deactivation not only turns off the formulas, but deletes all the data in those months in preparation for copying the actual data across, so make sure you are doing this in the right forecast as it is irreversible.
- Now you can copy your actual data. Go to Data/Formulas > Copy Data, and from the drop down menu at the top left of the form, choose Copy Multiple Periods.
- Choose Actuals 2020 (year 2020) as your source budget, and Forecast 2020 (3+9) as your target budget (also year 2020), then select the months you wish to copy from Actuals 2020 in the drop down menus in the Source Budget Periods column next to the target months on the right, and make sure to check the boxes on the left of those months.
- You shouldn't need to check the Overwrite Data box as there is no data in the target budget, or the Copy Formula Values box (this is like Paste Special - Values in Excel) as there shouldn't be any formulas in your Actuals 2020.
- Hit Save, and you have your new hybrid forecast. You can go back to Manage Budgets, select the edit tool again, and lock the actual months if you want to prevent them being edited.
If you want to create another forecast the next month, or next quarter, just go through this process again, but you'll already have Actuals 2020 to import to, and you can clone from the latest version of your forecast.