Using Reforecasting
Reforecasting must be activated for your account before use. To activate this feature, contact our Support team.
Use Reforecasting in IRIS Financial Planner to create a new budget forecast using imported actuals. When imported, the new data overwrites saved scenarios with monthly actuals, allowing you to actively re-profile remaining income and spend.
Select a budget to display the budget forecasts. Where a month has not been imported, Actual & Forecast displays as zero.
If required, select a value to edit the budget values for a month. To save changes, the green tick must be selected. You can also edit the budget Description if required.
Setting the Working Forecast
This process should be carried out every forecasting period.
It is recommended you identify the current budget scenario as the working forecast. Do the following:
- Go to Settings then Budgets.
- Select the relevant budget name.
- Select the wheel icon then Set as working forecast.
A red W is added to the budget name.
- Select the wheel icon again then Duplicate.
The duplicate budget must then be set as the current budget.
- Rename the new budget as required.
- Select the new budget from the menu, then Set as current.