P&L Forecast - Ultimate Month End

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 Ultimate Month-End Profit & Loss Reporting

The Profit and Loss Forecast provides Actual and Budget in 14 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 (Forecast is Actual up to the Prior Month then Budget values for remaining months)
• 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 | Budget | Variance $ | Variance %

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

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
• 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 
• 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
• 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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