P&L Forecast - Ultimate Month End

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  Ultimate Month-End Profit & Loss Reporting

The Profit and Loss Forecast provides Actual, Budget and Forecast in 18 pre-calculated columns grouped in  Month-To-Date (MTD), Year-To-Date (YTD) and Full Year. These are shown diagrammatically below. The columns can be hidden or shown in any order.

Selecting various metrics as columns allows the creation of Profit & Loss reports with many different formats including:

• Actual vs Budget
• Month To Date vs Year To Date vs Last Year
• Full Year Budget vs Forecast where Forecast = Budget^FullYear - Actuals^YTD
• Full Year Budget vs ReForecast^New where ReForecast is a second Budget
  • uses QuickBooks multiple Budgets. ReForecast last entered Budget 
• By Account or Summary P&L

1. To run this same report over the MYOB Jobs P&L instead of GL Click here. 
2. For a sharper more focused P&L, Streamline your Chart of Accounts

You can run the report with all columns or Hide a few Columns if you only want some of the above calculated metrics

What Columns are available ?

• Month to Date
  - Actual | Budget | Variance $ | Variance % | Actual Last Year
• Year to Date
  - Actual | Budget | Variance $ | Variance % | Actual Last Year
• Full Year
  - Forecast | ReForecast | Budget | Variance $ | Variance %

Forecast is Actual up to the Prior Month then Budget values for remaining months 

ReForecast uses a second Budget available only in QuickBooks Online.** 

**BI4Cloud reads the budgets entries in QuickBooks Online using the first entered budget of a year as the Budget and the last entered budget of a year as the ReForecast

The animation below shows these available columns

Defining your P&L Report

• Select Columns (Add/Remove) to display
• Select Rows to display
• Select Sub-Totals to display

Select Columns using Add/Remove Columns

Using Add/Remove Select and Reorder Columns

Click on +/- Cols icon.

Choose Columns to Show or Hide, use Green arrows to Reorder Columns.

Select Rows using Analyse By

Use the Analyse By to see the options for the level of detail in Rows. The choice of row dimensions varies depending on the feature in each accounting system. Here is what is available by accounting product.

Choose from Account, Category, Account Levels 1-4 or Custom List

• Account - The lowest level by GL Detail account
• Category (although you cannot budget by MYOB Category)
• GL Account Level 1, 2, 3, 4 - Header Accounts - Click here to learn how to setup Header accounts
• User Defined Flexi Levels^New - Click here to learn more about Flexi Levels
• GL Custom Lists - e.g Cost Centre/Division/State - Click here for more info

Account, Location, Class, Class Levels, Account Levels 1-4 or Custom Lists

• Account - The lowest level by GL Detail account
• Location
• Class
• Class Level 1, 2, 3 - Header Accounts
• GL Account Level 1, 2, 3, 4 - Header Accounts 
• User Defined Flexi Levels^New - Click here to learn more about Flexi Levels
• GL Custom Lists - e.g Cost Centre/Division/State - Click here for more info

 Choose Account, Tracking Code 1-2 or Custom Lists

• Account - The lowest level by GL Detail account
• Tracking Code 1 - this will have a Label defined in Xero
• Tracking Code 2 - this will have a Label defined in Xero
• User Defined Flexi Levels^New - Click here to learn more about Flexi Levels
• GL Custom Lists - e.g Cost Centre/Division/State - Click here for more info

Select Sub-totals using Group By

Use the Group by feature to add one or more Sub-total Levels.

What you choose to sub-total on will depend on what level of detail you have set for the rows.

The standard Favourite (see above) is set up with two levels of Sub-totals as follows:

• Analyse by - Account (GL Detail Account)
• Group by  - Account GL Level 2 - A high Level Header account
• Group by Level 2 - Account Classification - Income /COS/Expenses

To edit the Sub-totals or Group by levels click on the Green +

Edit the 1st and 2nd Group by Sub-totals

Example - High Level P&L

• Analyse by - GL Account Level 2 (MYOB users see  Streamline your COA)
• Group by - Account Classification

Example Divisional P&L

• Analyse by - State (GL Custom List)
• Group by - Account Classification

Create a Favourite

Once your have defined the report to your liking save it as a favourite and share it with others. Create as many variations as you wish and save these as favourites.

Divisional Reporting

Divisional Reporting is achieved by utilising the accounting products Analysis Codes. These are implemented differently in each of the accounting products. The various options are described in Analysis Code Comparison

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