Monthly Profit & Loss Forecast Report for Dynamics 365 Business Central
What is a Monthly Profit & Loss Forecast Report?
A Monthly Profit & Loss Forecast Report is a popular planning model used by CFOs and planning managers to anticipate and plan activities based on revenues, expenses, and profitability. This forecast template provides a detailed month-by-month overview of revenues and expenses at a GL account level. It automatically includes year-to-date actual figures and forecasts for the remaining months. The Profit & Loss forecast is typically linked to the Balance Sheet and together they contribute to the Cash Flow Forecast. Below is an example of this type of forecast template.
Purpose of Profit & Loss Forecast Models
Profit & Loss Forecast Models are used by companies and organizations to provide executives and managers with a dynamic planning tool. By accelerating and enhancing decisions regarding revenues, expenses, and profitability, these models support strategic and operational decision-making. When integrated into the Financial Planning & Analysis (FP&A) and Accounting Department’s practices, they help improve business outcomes and reduce the risk of financial losses and overspending.
Benefits to Users
The Monthly Profit & Loss Forecast Report model offers several benefits to business users, enabling them to make better decisions and improve their efficiency in their roles. By providing a comprehensive overview of revenues, expenses, and profitability, this model empowers users to analyze trends, identify potential risks, and make informed decisions. It facilitates proactive planning by offering a month-by-month view, allowing users to anticipate financial outcomes and adjust strategies accordingly. Moreover, the integration of actual figures and forecasts in a single template streamlines the decision-making process, saving valuable time and resources. Ultimately, this model equips business users with the tools they need to optimize their performance, enhance 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 Templates 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: 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:
- 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)
Corporate Performance Management (CPM) Cloud Solutions and More Examples
- View 100’s of reporting, consolidations, planning, budgeting, forecasting and dashboard examples here
- Discover how the Solver CPM solution delivers financial and operational reporting
- Discover how the Solver CPM solution delivers planning, budgeting and forecasting
- Watch demo videos of reporting, planning and dashboards
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