This article provides an overview of how to set up and use the Profit and Loss Projection in Magnifi. It introduces the key features and links to detailed articles for specific tasks.
Use the Profit and Loss Projection when you need to:
Project the profit and loss for your organisation
Import actuals and budgets
Enter or adjust projections
Save original budgets
Export results at divisional, segment, organisational, or consolidated level
Before creating projections, make sure you have completed the following (these steps are included in the setup wizard):
Organisation structure – define how your organisation is set up, including whether you will use divisions or groups.
Chart of Accounts – import or create your accounts, and review them to ensure they are correctly allocated to categories.
Select the start month for your projections
Magnifi provides a rolling forecast with no year-end rollover required
You can enter projections in several ways:
Direct entry: Type a value directly into the cell
Copy Across: Double-click a value to copy it into all future months (beyond the end month). The copied value remains until a new manual entry is made in a later month, which breaks the sequence
Percentage of accounts: Calculate the value as a percentage of one or multiple accounts
Drivers: Use Income Drivers or Labour Drivers for detailed projections
Auto Cast: Apply Auto Cast to quickly generate forecasts from historical data
Hover over the cell until the edit icon appears
Click the icon and add your comment
A yellow earmark will appear next to the cell
When exporting to Excel, comments display as notes in the relevant cells
Comments can be added to both budget and actual values. To add comments to actuals, first tick Include Actuals
Expense categories are pre-defined
Income categories can be added under Chart of Accounts
Accounts can be re-allocated to a different category if required
Switch between budgets and actuals by ticking Use Actuals
Display a revised forecast for the year based on actuals to date plus budgets for remaining months
Compare actual results to budgets in Analysis – Actual vs Budget or under Dashboard for high-level reporting
Import from Xero or Excel/CSV, or enter values manually
Import budgets using the Excel template provided
This feature can be useful for first-time users who want to bring in an existing budget as the starting point for projections
Use the padlock icon to lock/finalise months and prevent changes
An asterisk next to an account means the value is derived and cannot be manually adjusted
Hover over the account to see details
Derived values may come from drivers, calculations, or divisional values when viewed at the organisational (All Divisions) level
Save your original budgets to lock in the starting point for the year
Compare actual results or revised forecasts against the original
Export results to Excel at divisional, segment, organisational, or consolidated level
Why can’t I edit some values?
They may be derived (asterisked). Hover to see the driver or calculation
What if my projections don’t match my Chart of Accounts?
Check your account categories and re-allocate if required
How do I keep my original budgets safe?
Use the Save as Original Budget option, or duplicate the file in Playground
Can I link my income projection to projected capacity?
Yes, use the Capacity Link feature to connect projected income with projected capacity