Revenue Forecasting enables you to generate project and opportunity revenue recognition forecasts at the click of a button and schedule forecasts to run regularly. For more information, see Running Project Revenue Forecasts, Running Opportunity Revenue Forecasts and Scheduling Revenue Forecasts.
You can view the data using the reports available. For information on Revenue Forecasting reports, see Reporting on Revenue Forecasts.
For information on how to set up Revenue Forecasting on PSA, see Setting Up Forecasting.
Project Revenue Forecasts
Project revenue forecasts are created using the Monthly time period and identify the types of records that:
- Have already been recognized or are pending recognition, such as timecards and expenses.
- Are scheduled to be recognized, such as milestones and Estimates Vs Actuals (EVAs).
A project revenue forecast also includes unscheduled revenue when the recognition method is "% Complete".
For general information on project revenue forecasts, see Project Revenue Forecasting Overview.
For information on running revenue forecasts at project level, see Running Project Revenue Forecasts.
Opportunity Revenue Forecasts
Opportunity revenue forecasts are created using the Monthly time period and include revenue from opportunity products that are marked with the IsServicesProductLine flag. An opportunity revenue forecast only includes unscheduled revenue.
For information on running revenue forecasts at opportunity level, see Running Opportunity Revenue Forecasts.
Custom Objects Used in Revenue Forecasting
The following custom objects in PSA are used to support Revenue Forecasting:
|
Object |
Description |
Related Information |
|---|---|---|
| Revenue Forecast | Stores the revenue forecast for a project or an opportunity. | Revenue Forecast Fields |
| Revenue Forecast Batch Lock | Indicates whether the revenue forecast batch job is currently running. This object is for internal use only. |
Revenue Forecast Batch Lock Fields |
| Revenue Forecast Batch Log | Stores details of any errors that occurred when a revenue forecast was run. |
Revenue Forecast Batch Log Fields |
| Revenue Forecast Batch Status | Stores the status of Revenue Forecasting batch Apex jobs. | Revenue Forecast Batch Status Fields |
| Revenue Forecast Setup | Stores the settings for running a revenue forecast. | Revenue Forecast Setup Fields |
| Revenue Forecast Type | Stores the revenue forecast for a relevant object, for example Milestone or Est Vs Actuals. | Revenue Forecast Type Fields |
Revenue Forecasting Permission Sets
This table lists the permission sets you can assign to users for access to Revenue Forecasting:
| Permission Set Name | Level | Description |
|---|---|---|
| PSA - Forecasting - Project Manager | 3 | Assign to users with a Project Manager role, who need to run and view revenue forecasts for their projects. |
| PSA - Forecasting - Regional Manager | 3 | Assign to users with a Services Leader role, who need to run and view revenue forecasts for relevant projects and opportunities. |
| PSA - Forecasting - Run | 3 | Assign to users who need to run and view revenue forecasts. |
| PSA - Forecasting - Setup | 3 | Assign to users who need to configure the setup for revenue forecasts. |
Exchange Rates Used in Revenue Forecasting
For maximum accuracy, Revenue Forecasting uses the currency exchange rate that was active on a record’s actual date, such as the timecard end date or expense date. For scheduled records or unscheduled revenue, today’s exchange rate is used.
If no exchange rates exist for a historical actual date, the affected records are omitted from the revenue forecast. You can check the Revenue Forecast Batch Logs related list to view the details.
If the currency on a record differs from the project currency, Revenue Forecasting uses either PSA or Salesforce currency conversions to calculate the value, depending on your org setup. This might happen, for example, with an expense record if the expense was incurred in another country. In this case, the revenue forecast uses the exchange rate that applied on the expense date.
How Rounding Works in Revenue Forecasting
Revenue Forecasting uses "half up" rounding to the number of decimal places of the relevant currency. For example:
- 3.334 is 3.33 to two decimal places
- 3.335 is 3.34 to two decimal places
- 3.336 is 3.34 to two decimal places
The difference between the number before and after rounding is carried forward to the next month for recognized revenue. For pending recognition, the difference is carried to scheduled revenue and then to unscheduled revenue within the monthly time period, before being rolled over to the next month's pending recognition.
For time and materials projects recognized on delivery, when you run a revenue forecast, numbers are rounded to the number of decimal places of the relevant currency immediately and Revenue Forecasting adds the revenue to the relevant monthly time period.
For opportunities and for fixed fee projects and milestones, when remaining revenue is rolled over to the next monthly time period due to rounding, Revenue Forecasting adds any remaining amounts to months where the total revenue at that point should round up, as shown in the example below.
For detailed information on how revenue forecast calculations work, see Deliverable Recognition Method, Equal Split Recognition Method, and % Complete Recognition Method.
Example
A fixed fee project spans three months, from April to June. The revenue is split equally between the three months.
Total scheduled revenue over the project duration = $10,000.
The amounts in each month are:
| Month | Calculation |
Amount $ |
Total Revenue $ |
|---|---|---|---|
| April | 10,000/3 | 3,333.33 | 3,333.33 |
| May | 10,000/3 | 3,333.34 | 6,666.67 |
| June | 10,000/3 | 3,333.33 | 10,000.00 |
Any remaining amount is added on to months where the total revenue at that point should round up. This means the total revenue in May should be $6,666.67 so the remaining $0.01 is added to the revenue amount for May.