Auto-Cast

Auto-Cast

If you select the "Auto-Cast" option within the Profit & Loss, you can automatically project the next 12 months by applying a % inc/(dec) to the prior 12 month values. 




We have referenced to the screenshot below when commenting on the key features;
  1. Projection start month; projections will only be updated from the month entered under "Update Projections from". Prior months will not be impacted.
  2. Quick Setup; select this option to apply an overall % increase to income and expenses.
  3. Last 12 Mths values refer to the 12 months prior to the projection start month. If actual values have not been imported, it will include the budgets if they exist. For example, if you are preparing budgets in May 2023 for July 2023 and you only have actuals until April 2023, it will include actuals from July 2022 to April 2023 and budgets for May & June 2023. NOTE; If budgets do not exist (eg new file) you can only project for the 12 months from the last actual import. However once you apply the auto-cast, you can then select a future month and re-run.
  4. % inc/(dec) can be entered at the category level or individual account level. 
  5. All Divisions; you apply the auto-cast at either the "All Divisions" level or the Divisional level. If you apply it at the "All Divisions" level, it will apply the changes to all of the divisions. 
  6. Calculation; Last Year Value will apply the % inc/(dec) to the corresponding month last year. Eg, if March 2022 was $50,000 and you applied a 5% increase, March 2023 will be $55,000.
  7. Calculation; Last Year Average will apply the % inc/(dec) to the average monthly value for the last 12 months. Eg, if the last 12 months totalled $120,000 and you apply a 5% increase, it will budget $10,500/mth.
  8. Calculation; % of account can be used to calculate the value based on a % of another account. You can also do this within the Profit & Loss page by double clicking on the account name.
  9. Excluded Accounts; accounts that are projected using Income Drivers or Labour Drivers will not be updated. These accounts will appears as "Income Drivers" or "Calculated Amount".



After you specify the parameters, you can then select "Update Budgets" with 2 further options;

  1. Update from last actual date only; this will only appear if there are actual values within the 12 month projection period. Eg, if you are projecting from July and you have actual results for July & August. If you don't want to update the existing budgets for July & August, tick this box and the budgets will only be updated from September.
  2. Round up; when you hover over the name it will reveal more information regarding the round up. If the value is < $1,000 it will round up to the nearest 10. If the value is > $1,000 it will round up to the nearest 100.