What is
a
Monthly Profit & Loss Forecast Report
? A Monthly Profit & Loss Forecast Report serves as a valuable planning tool utilized by CFOs and planning managers to anticipate and strategize activities based on revenues, expenses, and profitability. This forecast template provides a detailed breakdown of revenues and expenses on a monthly basis, specifying the GL account level. It automatically incorporates actual year-to-date figures and forecasts for the remaining months. The Profit & Loss forecast is closely linked to the Balance Sheet, and together they contribute to the Cash Flow Forecast. Here's an example of this type of forecast template.
Purpose of
Profit & Loss Forecast Models Profit & Loss Forecast Models are essential tools employed by companies and organizations to equip executives and managers with a dynamic planning resource. By facilitating timely and informed decisions regarding revenues, expenses, and profitability, these models support strategic and operational decision-making processes. When integrated into the Financial Planning & Analysis (FP&A) and Accounting Department's practices, they significantly enhance business outcomes and mitigate the risk of financial losses and overspending.
Benefits to Users The Monthly Profit & Loss Forecast Report model brings forth numerous advantages for business users, enabling them to make more informed decisions and enhance their efficiency in their respective roles. By providing a comprehensive overview of revenues, expenses, and profitability, this model empowers users to analyze trends, identify potential risks, and make well-informed choices. It facilitates proactive planning by offering a month-by-month perspective, allowing users to anticipate financial outcomes and adapt strategies accordingly. Furthermore, the integration of actual figures and forecasts within a single template streamlines the decision-making process, saving valuable time and resources. Ultimately, this model equips business users with the necessary tools to optimize their performance, improve financial outcomes, and drive organizational success.
Profit & Loss Forecast Model
Example Here is an example of a Monthly Profit & Loss Forecast Report with actual data year-to-date and forecast for the rest of the year.
You can find hundreds of additional examples
here.
Who Uses This Type of
Forecast Template
? The typical users of this type of forecast template are: CFOS, Controllers and Planning Managers.
Other
Forecast Template
s Often Used in Conjunction with
Profit & Loss Forecast Models Progressive Financial Planning & Analysis (FP&A) and Accounting Departments sometimes use several different Profit & Loss Forecast Models, along with balance sheet and cash flow forecasts and other management and control tools.
Where Does the Data for Analysis Originate From? The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Acumatica, Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Netsuite and others. In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.
What Tools are Typically used for Reporting, Planning and Dashboards? Examples of business software used with the data and ERPs mentioned above are:
Monthly Profit & Loss Forecast Report Example from Solver
- Native ERP report writers and query tools
- Spreadsheets (for example Microsoft Excel)
- Corporate Performance Management (CPM) tools (for example Solver)
- Dashboards (for example Microsoft Power BI and Tableau)
- View 100’s of reporting, consolidations, planning, budgeting, forecasting and dashboard examples here
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May 23, 2023
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