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Financial Projections / Simple Forecasting

Simple Forecasting

The easiest way to create a forecast on Pry is to create it directly on the financial reports page. We call this feature Simple Forecasting. It is the fastest way of the 3 ways to create a financial projection.

Simple forecasts are best for one-time expenses, investments, or recurring expenses with fixed amounts.

Create a Simple Forecast

Simple Forecasts are created directly on the Financial Reports page in the transaction list header. Select a cell in the planning section, then click on the + New Forecast. Fill out the name (vendor), amount, and other fields and press Submit once you are done.

Recurring Forecast

You can create forecasts on a recurring basis. When you open the create forecast entry window, click on the "Recurring" dropdown to select the frequency of the forecast (Monthly, Quarterly, or Annually).

Average of Past Months

You can choose to forecast by "Average of Past Months." This method is a quick way to forecast from your historical expenses. Your forecast will be updated automatically with actuals after the end of the month. You can select to take the average from last 1 to 12 months.

To forecast using Average of Past Months, open the create forecast entry window and click on the dropdown next to Amount. This method will always forecast on a monthly basis.

Booked Against

Pry forecasts are also double-entry bookkeeping. You can plan for accrual entries such as Accounts Payable, Depreciation & Amortization, etc by clicking on More Options on the create a forecast window and selecting the account you want to book the forecast entry against. Banks (cash) will always be the default account.

Editing a Forecast

Updating a Forecast

To update an existing forecast entry, you can hover over the forecast entry and right-click -> Edit or click on the three dots on the forecast entry and select Edit. The Edit Forecast window will pop up on the right-hand side.

You can edit its name, recurring frequency, or amount. There is a Change all future recurring entries checkbox for you to choose if you want to make edits for all future entries or just the selected month.

Changing Forecast Start Month

To change the forecast start month, open the edit forecast modal and you will be able to adjust the start month for a recurring forecast or move the time frame for a one-time expense forecast.

Moving a Forecast

You can move a forecast to a different account if you forecasted an expense in the wrong account or want to adjust where the forecast is located in the future. To move the forecast entry to a different category, hover over the forecast entry and click to drag and drop the entry into the new category.

Deleting a Forecast

There are 3 ways to delete a forecast. To start, right-click on the forecast entry and click delete or hover over a forecast entry and click on the three dots followed by Delete.

  • Delete Entry will delete that entry only within the selected month.
  • Delete Future Entries will delete that entry in the selected month and all entries in future months.
  • Delete All Forecasted will delete that entry in the selected month and all entries in the past and future months.

Linked Forecasts

There are more than just simple forecasts on the Financial Reports page. You will also find Forecasts linked from the Hiring Plan or Financial Models. Those forecasts have slightly different behavior as they are the values vary from month to month.

Hiring Plan Forecast

Forecasts from the hiring plan can be recategorized and renamed but users cannot delete or change any other fields. To make additional edits, visit the Hiring Plan page.

Financial Models Forecasts

Forecasts created from a model are based on drivers and formulas. You can view the formula directly on the forecast entry and click on View Model to view and edit details on the Models page.