Create Revenue Recognition Forecast Types

Explanation

This activity is used to create forecast types which can be used to group revenue recognition forecasts. The purpose of forecast types is to distinguish forecasts created for different reasons. 

Each forecast type will be assigned a unique forecast version series which will impose that every forecast version created for a particular forecast type inherits a version prefix and version start number as defined on the revenue recognition forecast type.

Forecast types are also used to regulate which forecast type is set as periodic review. Only one forecast of any forecast type which has the Periodic Review checkbox selected can be created for a particular cut off accounting period.

Prerequisites

N/A

System Effects

Creates forecast types which will be made available through a List of Values for connection to forecasts for grouping purposes.

Window

Revenue Recognition Forecast Type

Related Window Descriptions

Revenue Recognition Forecast Type

Procedure

  1. Open the Revenue Recognition Forecast Type window.
  2. Click New (F5) to create a new record.
  3. In the Forecast Type field, enter a unique value by which the forecast type can be identified (Note: There are three forecast types suggested by the company template. They are: General, Simulation, and Review).
  4. In the Forecast Type Description field, enter the description of the forecast type to further explain the forecast type.
  5. In the Version ID Prefix field, enter a value which versions of the forecast type being defined should inherit in front of the rest of the version ID.
  6. In the Version ID Start Value field, enter the number with which a forecast versions of the forecast type being defined should start. This value appears after the version ID Prefix.
  7. In the Version ID Length Shown field, enter the number of characters applicable for selected forecast type.
  8. Select the Periodic Review field, if you want to impose that the particular forecast type can have only one forecast version created for a particular cut off accounting period.
  9. Click Save.