What is aMonthly Profit & Loss Forecast Report? A Monthly Profit & Loss Forecast Report is a planning tool used by CFOs and planning managers to anticipate and plan activities based on revenues, expenses, and profitability. It provides a detailed month-by-month overview of revenues and expenses at a GL account level, including year-to-date actual figures and forecasts for the remaining months. The Profit & Loss forecast is linked to the Balance Sheet and Cash Flow Forecast. Here is an example of this 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. These models support strategic and operational decision-making by accelerating decisions regarding revenues, expenses, and profitability. Integrated into the Financial Planning & Analysis (FP&A) and Accounting Department's practices, they 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. It provides a comprehensive overview of revenues, expenses, and profitability, enabling users to analyze trends, identify risks, and make informed decisions. With a month-by-month view, users can proactively plan and adjust strategies based on anticipated financial outcomes. The integration of actual figures and forecasts in a single template streamlines decision-making, saving time and resources. Ultimately, this model equips business users with the tools to optimize 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.
Monthly Profit & Loss Forecast Report Example from Solver
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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:
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