Setting up Forecasting

Revenue Forecasting

For general information about Revenue Forecasting, see Revenue Forecasting Overview.

If you are an administrator, take the following action:

  1. Ensure the projects you want to run Revenue Forecasting on have a start date and an end date.
  2. Ensure the projects you want to schedule Revenue Forecasting on have all of the following:
    • A start date and an end date
    • The Active checkbox set to true
    • The Include In Forecasting checkbox set to true
  3. Ensure the opportunities you want to run Revenue Forecasting on have the Is Services Opportunity checkbox set to true.
  4. Ensure the opportunities you want to schedule Revenue Forecasting on match all of the following criteria:
    • No associated active or completed project
    • A value in the Stage field that is not "Closed Lost"
    • The Is Services Opportunity checkbox set to true
  5. Check that monthly time periods are set up for the duration of any projects you want to run Revenue Forecasting on. This is because Revenue Forecasting uses monthly time periods by default.
  6. Mark the time period record that relates to the month before the current month as Closed for Forecasting. This is essential for Revenue Forecasting to work correctly.
    Warning:

    As a regular part of the Revenue Forecasting process, when revenue recognition is completed for a time period, the Closed for Forecasting field must then be selected on that time period record. For information, see Marking Time Periods as Closed for Revenue Forecasting.

  7. Ensure the Timecard_Split_Time_Period_Types configuration option in the Timecard configuration group includes a value of Month.
  8. If you are using the "Deliverable" or "% Complete" recognition method, ensure Generate Monthly Records is set to true in the Est Vs Actuals Settings custom setting. For more information, see Est Vs Actuals Settings.
    Note:

    If you only have Generate Weekly Records set to true, these EVA records are not included in the forecasts. The forecasts will not include any assignments or timecards that fall within the time period of the forecast but were created on a project before you set this checkbox to true.

For information on the permissions available for Revenue Forecasting, see Revenue Forecasting Permissions.

If you want to use the integration between PSA and FinancialForce Revenue Management, you will need to perform some configuration in Revenue Management first. No additional setup is required in PSA. For information, see Integration with FinancialForce Revenue Management.

Note:

If you have Revenue Management installed, you must configure the integration between Revenue Management and PSA for revenue recognition actuals before starting to use Revenue Forecasting.

If you do not want to use the integration between PSA and Revenue Management, see No Integration with FinancialForce Revenue Management for information on how to configure your PSA records for use with Revenue Forecasting.

To configure PSA to regularly generate revenue forecasts:

  1. Navigate to the Revenue Forecast Setup tab and edit the revenue forecast setup record that is active. If a revenue forecast setup record does not already exist, you must create one. If you do not, the default values apply. For more information, see Revenue Forecast Setup Fields.
  2. If you are using the "% Complete" recognition method, from the Total Hours Field on Project picklist, select the field you want PSA to use when calculating the value in the % Hours Completed For Recognition field on a project.
    3. Tip:

    If you do not want to use the Estimated Hours at Completion field or the Planned Hours field on the Project object, you can create your own field on the Project object and add it to the Total Hours Field on Project picklist on the Revenue Forecast Setup object so that you can select it here.

  3. [Optional] To exclude revenue relating to held resource requests on projects and milestones, set the Exclude Resource Requests on Project checkbox to true.
  4. [Optional] To exclude revenue relating to opportunities from your scheduled revenue forecasts, set the Exclude Opportunities checkbox to true.
  5. Ensure the Active checkbox is set to true and save the revenue forecast setup record.

For information on configuring the batch settings for revenue forecasts, see "Forecast Batch Settings" under Revenue Forecast Setup Fields.

For information on how to configure PSA to regularly generate revenue forecasts, see Scheduling Revenue Forecasts.

Tip:

You can create a revenue forecast setup record from the Services Revenue Forecasting Workspace. For more information, see Services Revenue Forecasting Workspace.

To configure PSA to exclude revenue recognition actuals from revenue forecast calculations when using the integration between the Revenue Forecasting feature in PSA and FinancialForce Revenue Management:

  1. Navigate to the Revenue Forecast Setup tab and edit the revenue forecast setup record that is active. If a revenue forecast setup record does not already exist, you must create one. If you do not, the default values apply. For more information, see Revenue Forecast Setup Fields.
  2. Set the Exclude Revenue Recognition Actuals checkbox to true.
  3. Ensure the Active checkbox is set to true and save the revenue forecast setup record.

This effectively disables the integration between PSA and Revenue Management.

To configure PSA to retain actuals from the previous forecast run for any closed time period when you are not using the integration between the Revenue Forecasting feature in PSA and FinancialForce Revenue Management:

  1. Navigate to the Revenue Forecast Setup tab and edit the revenue forecast setup record that is active. If a revenue forecast setup record does not already exist, you must create one. If you do not, the default values apply. For more information, see Revenue Forecast Setup Fields.
  2. Set the Retain Pending Revenue in Closed Periods checkbox to true.
  3. Ensure the Active checkbox is set to true and save the revenue forecast setup record.

Any actuals created in a closed time period after the period was closed are included in the revenue forecast for the next open period.

To enable PSA to determine the expected project duration for use in revenue forecast calculations run at the opportunity level:

  1. [Optional] On the Opportunity object, add a new field called Expected Project Start Date that can be used to store the expected start date for projects created from opportunities. If you want to use the date in an existing custom field or the date in the existing Close Date field on opportunities, there is no need to create this new field: go to step 3.
  2. If created, add the new Expected Project Start Date field to the Opportunity page layout.
  3. [Optional] On the Opportunity object, add a new field called Expected Project End Date that can be used to store the expected end date for projects created from opportunities. If you want to use the date in an existing custom field, there is no need to create this new field: go to step 5.
  4. If created, add the new Expected Project End Date field to the Opportunity page layout.
  5. From the Revenue Forecast Setup tab, edit the revenue forecast setup record that is active. If a revenue forecast setup record does not already exist, you must create one, ensuring that you set the Active checkbox to true. For more information on the fields available, see Revenue Forecast Setup Fields.
  6. In the Opportunity Settings section of the revenue forecast setup record, complete the following fields:
    • Expected Project Start Date Field on Opp: Enter the API name of the field you created at step 1, the API name of an existing custom field that contains a suitable date, or the API name of the Close Date field on the Opportunity object.
    • Expected Project End Date Field on Opp: Enter the API name of the field you created at step 3 or the API name of an existing custom field that contains a suitable date.

      • Note: Dates must be entered in both specified fields on opportunity records for PSA to be able to determine the expected project duration for use in opportunity revenue forecast calculations.

  7. Ensure the Active checkbox is set to true and save the revenue forecast setup record.

To configure PSA to exclude probability from opportunity revenue forecast calculations:

  1. Navigate to the Revenue Forecast Setup tab and edit the revenue forecast setup record that is active. If a revenue forecast setup record does not already exist, you must create one. If you do not, the default values apply. For more information, see Revenue Forecast Setup Fields.
  2. Set the Exclude Probability from Opportunities checkbox to true.
  3. Ensure the Active checkbox is set to true and save the revenue forecast setup record.

To configure PSA to include best and worst case scenarios in revenue forecast calculations:

  1. Navigate to the Revenue Forecast Setup tab and edit the revenue forecast setup record that is active. If a revenue forecast setup record does not already exist, you must create one. If you do not, the default values apply. For more information, see Revenue Forecast Setup Fields.
  2. [Optional] To include the best case scenario in revenue forecast calculations, set the Include Best Case checkbox to true.
  3. [Optional] If you have configured PSA to include the best case scenario in revenue forecasts, enter a value in the Opportunity Best Case Threshold field. Opportunities with a probability below the specified percentage threshold will not be included in the best case scenario.
  4. [Optional] To include the worst case scenario in revenue forecast calculations, set the Include Worst Case checkbox to true.
  5. [Optional] If you have configured PSA to include the worst case scenario in revenue forecasts, enter a value in the Opportunity Worst Case Threshold field. Opportunities with a probability below the specified percentage threshold will not be included in the worst case scenario.
  6. [Optional] Enter a value in the Opportunity Expected Threshold field. Opportunities with a probability below the specified percentage threshold will not be included in the expected scenario.
  7. Ensure the Active checkbox is set to true and save the revenue forecast setup record.

A revenue forecast version is a static snapshot of revenue forecast data taken at a specific point in time and covering a given forecast period, such as the current quarter.

For information on how to configure PSA to regularly generate revenue forecast versions so that you can make comparisons, see Scheduling Revenue Forecast Versions.

Tip:

To create a revenue forecast version on demand, click Create Revenue Forecast Version on the Services Revenue Forecasting workspace. For more information, see Services Revenue Forecasting Workspace.

To set up PSA to respect view and adjust permission controls:

  1. Navigate to the Revenue Forecast Setup tab and edit the revenue forecast setup record that is active.
  2. [Optional] If a revenue forecast setup record does not already exist, you must create one. For more information, see Revenue Forecast Setup Fields.
  3. Select Respect Permission Controls in the Forecast Version Settings section and save the revenue forecast setup record.
  4. Select the Permission Controls tab to create the required permission controls.
  5. Click New.
  6. Select the following Permissions fields:
    1. Revenue Forecast Version View
    2. Revenue Forecast Version Adjust

  7. For Revenue Forecast Version Adjust, select Cascading Permission.

  8. Complete the remaining Permission Control Fields including any specific RPG, project, or opportunity records you want to create a permission control for.
  9. Click Save.
  10. Repeat the steps above to create all permission controls required for your users.

If you hover over a project, opportunity, or milestone in the Forecast Breakdown grid on the Review Forecast Version page, the following fields are displayed by default:

  • For projects:
    • Bookings
    • Project Manager
    • Start Date
    • End Date
  • For opportunities:
    • Amount
    • Opportunity Owner
    • Probability (%)
    • Close Date
  • For milestones:
    • Target Date
    • Actual Date
    • Milestone Amount
    • Planned Hours

To customize the hover details for any or all of the above objects:

  1. Create new field sets or use existing field sets that contain the fields you require. We recommend a maximum of 10 fields for each field set. For information on creating and editing field sets, see the Salesforce Help.
    Note: Where there is a lookup to another object, although it is possible to add fields from the lookup object into a field set, these are not supported and are not displayed in the hover details.
  2. Make a note of the API names of the field sets. If a field set is from a managed package, you must include its namespace, for example pse__SelectProjectTemplateFieldSet.
  3. Navigate to the Revenue Forecast Setup tab and edit the revenue forecast setup record that is active. If a revenue forecast setup record does not already exist, you must create one. If you do not, the default values apply. For more information, see Revenue Forecast Setup Fields.
  4. In the Hover Details Field Set on Milestone field on the revenue forecast setup record, enter the API name of the field set on the Milestone object that you noted at step 2.
  5. In the Hover Details Field Set on Opportunity field on the revenue forecast setup record, enter the API name of the field set on the Opportunity object that you noted at step 2.
  6. In the Hover Details Field Set on Project field on the revenue forecast setup record, enter the API name of the field set on the Project object that you noted at step 2.
  7. Ensure the Active checkbox is set to true and save the revenue forecast setup record.

For information on the Review Forecast Version page, see Reviewing Revenue Forecast Versions.

You can create custom filters for certain field types, enabling users to filter the data on the Review Forecast Version page by specific fields on the Project, Opportunity, and Milestone objects.

To create custom filter options to be displayed in the Filters panel on the Review Forecast Version page:

  1. Create a new field set on the Review Forecast Version Detail object or use an existing field set. You can add the following types of fields from the Project, Opportunity, and Milestone objects:
    • Lookup
    • Picklist
    • Text
    Notes: Filtering is not supported on Picklist (Multi-Select), Rich Text, Encrypted Text, and Long Text type fields. You can, however, filter on Formula (Text) type fields.

    The current user must have Read access to the target object and field-level security access to the field on the related object. For example, to filter on the Work Calendar field on the Project object, the user needs Read access to the Work Calendar object and field-level Read access to the Work Calendar field on the Project object.

    You can add a maximum of 25 fields to the field set. For information on creating and editing field sets, see the Salesforce Help.

  2. Make a note of the API name of the field set you are using. If it is a field set from a managed package, you must include its namespace.
  3. Navigate to the Revenue Forecast Setup tab and edit the revenue forecast setup record that is active. If a revenue forecast setup record does not already exist, you must create one. If you do not, the default values apply. For more information, see Revenue Forecast Setup Fields.
  4. In the Custom Filter Field Set field on the revenue forecast setup record, enter the API name of the field set on the Revenue Forecast Version Detail object that you noted at step 2.
  5. Ensure the Active checkbox is set to true and save the revenue forecast setup record.

The fields you have added to the field set are now available in the Filters panel on the Review Forecast Version page, provided the user viewing the page has the relevant field-level access.

For information about the Review Forecast Version page, see Reviewing Revenue Forecast Versions.

Billing Forecasting

If you are an administrator, take the following action to configure Billing Forecasting:

  1. Ensure the Include In Forecasting checkbox is set to true on each RPGClosed Abbreviation of region, practice, group. or project you want to run forecasting on and that the relevant projects are active.
  2. Ensure that each opportunity to be included in Billing Forecasting has a probability of more than 0%.
  3. If your business has services products, ensure that each opportunity has one of the following:
    • The Is Services Opportunity checkbox set to true
    • Opportunity Product lines with IsServicesProductLine set to true
    • Products with IsServicesProduct set to true on the product itself
  4. Ensure that users who are to carry out forecasting activities have the appropriate permission sets assigned and have access to the objects used in forecasting. For information on the permission sets available, see Permission Sets and Other Technical Documentation. For information on the objects required, see Objects Used in Billing Forecasting.
  5. Create billing forecast curves for use in your billing forecast calculation and make sure you have specified default curves for use on opportunities and projects. For more information, see Managing Curves for Billing Forecasts.
  6. Enter details on the Billing Forecast Setup page to configure billing forecasts for your organization. For more information, see Configuring Billing Forecasts.
  7. Use the Billing Forecast Batch Settings custom settings to specify settings for forecast batch processes, including notifications. For further information, see Billing Forecast Batch Settings.

For more information on Billing Forecasting, see Billing Forecasting Overview.