When creating a hybrid forecast with part actuals and part budget when using the balance sheet and cash flow feature there are a few additional considerations.
If you've previously used just our P+L module and have recently turned on the balance sheet feature, there will be a few changes to how you create a hybrid forecast. If you're new to Budgyt and haven't created this type of forecast before, we'll start at the beginning.
With the BS/CF feature turned on, every one of your scenarios will need to have a starting balance whether it's a budget, a forecast, or your actual data.
There are several steps to creating a hybrid scenario:
- Make a clone of the scenario you are using as your baseline. You can clone from multiple years, and with the BS/CF feature you'll need to ensure that you clone all of the past years where there is data, all the way back to where you imported your beginning balance. Go to Scenarios > Manage, and click the second tool on the far right of the scenario you wish to clone:
This will create an exact replica of your base scenario into which we can copy more actual data. - Deactivate the months into which you'll be copying your actual data. Deactivation turns off formulas and payroll forecast information for the months where you'll have actual data, but leaves these features active in the budget/forecast months. To Deactivate, go to Scenarios > Manage again, click the pencil icon on the right of the clone that you just created , then click the + sign to the left of the months. This will expand a grid of years x months, where you will need to check the months that you wish to deactivate.