QuickBooks Tips and Tricks – Forecasts Using QuickBooks
Issue 2.1 January 7, 2003
New with QuickBooks Premier 2003 is the ability to automate the process of creating a forecast using actual historical information or creating a forecast from scratch. The interface for the forecast (as well as the budget) is much more flexible and user friendly than was available in the past.
This new feature is found by choosing Company > Planning and Budgeting > Set Up Forecast. When creating a forecast for the first time, a series of questions are answered to either create the forecast from scratch or historical information can be used. It is also possible to choose to create the forecast using the class feature or job feature.
The layout of the data entry screen is much easier to use. Pull down options at the top permit changing between various forecasts, as well as classes or customer:jobs if appropriate. The months are displayed horizontally with the accounts being displayed vertically.
Once the forecast has been created, reports can be generated. The two alternatives are: overview of what was entered, or forecast versus actual.
To view this article with screen shots, click here.
As a resource for this and other questions, submit a question via “Ask the Expert” or attend our free, monthly discussion forum tele-class.
Bonnie J. Nagayama, CPA (925-247-0100) has been featured by Intuit in their QuickBooks Advisor Spotlight and frequently teaches and consults on using QuickBooks to its maximum advantage. For a FREE weekly newsletter of QuickBooks tips and tricks, plus many free and low cost QuickBooks resources visit www.4luvofbiz.com.
Return to Newsletter Archive
For further information, visit the following articles:
QuickBooks Tips & Tricks – Profit & Loss Budget Performance Report (Free!)
QuickBooks Tips & Tricks – Budget versus Forecast (Free!)
QuickBooks Tips and Tricks – Sick and Vacation Accruals (Subscription required)
Forecasts (Subscription required)
QuickBooks Tips & Tricks – Minimize Use of the Mouse (Subscription required)