1. General Accounting Implementation Guide
  2. Understanding Budget Forecasting and Planning

Understanding Budget Forecasting and Planning

With the JD Edwards EnterpriseOne General Accounting programs for forecasting and planning, you can:

  • Create fixed or percentage growth patterns.

  • Assign growth patterns to business units.

  • Generate and review the basis for the forecast.

  • Automatically generate the forecast budget amounts.

  • Revise and adjust the forecast to achieve the desired results.

  • Upload the finalized forecast to any user-defined ledger.

The JD Edwards EnterpriseOne General Accounting programs for forecasting and planning integrate with the standard budget programs. This integration allows you to streamline the entire budgeting process and generate detailed short-term and long-term budgets. You can customize your budgets to reflect your business and maintain multiple versions of a forecast to evaluate different scenarios. After you modify and finalize the forecasts, you can upload them to an user-defined budget or forecast ledger.

But first, you must set up growth patterns and assign them to business units. You can then create an unlimited number of revisions with different growth patterns. Revision numbers enable you to generate multiple budgets for the same business unit so that you can perform what-if analyses before you commit to a forecast. For each revision, you complete these tasks:

  • Define the revenue and expense accounts to include in your budget forecast.

  • Retrieve the amounts for each account.

  • Review and revise the accounts and basis amounts for each revision.

See Setting Up Growth Patterns.

After you complete these tasks, you generate the budget amounts for a revision and then revise the amounts as necessary to achieve the desired results. When you are satisfied with the results, you copy the finalized budget amounts to the F0902 table for each revision. From the F0902 table, the records can be incorporated with budgets from other systems for reporting purposes. You must forecast budgets using the forecasting and planning programs before you can use the standard budget programs.

Review the steps in the forecasting and planning process and the tables that the system uses during the process:

  • Set up and assign growth patterns.

  • Generate the forecast basis. The system uses data from the F0901 and F0902 tables and updates the F1403 table.

  • Revise the forecast basis.

  • Generate the budget forecast. The system updates the

  • Revise the budget forecast amounts.

  • Update the budget forecast. The system updates the F0902 table.