The Finance projection tool allows users to enter in upcoming obligations into Beacon Finance prior to the transactions downloading into the system. This allows for more accurate forecasting and balance reporting.
The Projection screen allows users to create and edit projections for any account in the view. The screen shows all existing projections entered based on the filters set on the screen.
How to Create a New Projection
1. Navigate to the projections screen found under the Planning tab
2. Confirm you are entering Projections for the correct Category group. If you need to change category groups, click the blue Change Category Group hyperlink.
3. Click the +Add New button or begin typing the CAN number in the empty value to start entering a new projection.
4. Enter the details of the projection. Required fields are the CAN, category group, month the projection is expected to occur, and the amount. The vendor requester and order number are optional fields.
5. If the auto-expire field is true, the projection will automatically disappear after the month has passed. For example, if a projection is entered and the month is set to July, and the auto-expire field is set to true, then by Aug 1, the projection will no longer summarize on reports.
6. After the details have been entered, click save
How to Reconcile a Projection
If an existing projection has been obligated, a user must manually reconcile the transaction to ensure the projection is not double-counted on reports. Note that if the projection is entered and the auto-expire field is set to True, then after the month passes, the transaction will automatically be removed from the projection total.
To reconcile a transaction that has been obligated, checkmark the empty action box.
Checkmarking this box will automatically reconcile the projection and remove the amount from reports.
This will also remove the projection from displaying on the projection detail screen unless you uncheck mark the exclude reconciled option.
When viewing reconciled projections, the projection will be check-marked.
How to Edit a Projection
1. To edit an existing projection, locate the projection using the screens filters.
2. Click the edit projection icon next to the row you are editing
3. The row will become editable. Make updates to the projection as needed. It may be helpful to add a comment about the changes that were made
4. Click save to confirm your changes
How to Clone a Projection
1. Click the clone projection button under the actions for the projection you wish to copy
2. This will copy some of the data. However, you will still need to fill in the remaining information.
3. Click save to add the new projection