The billing or revenue forecast takes your project schedule and forecasts billing/revenue over the project schedule.
For example if you have a phase scheduled for 5 months with $50K of fee, Planifi will project $10K of biling/revenue per month. If you earn or invoice/bill 20K in the first month, then Planifi know there's only $30K remaining and will forecast $7,500/mo over the remaining 4 months.
If you'd like to edit your forecast you can edit the forecasted dollars or % of remaining billing/revenue.
Note this can be filtered by discipline as well, to show just the remaining billing/revenue for a discipline based on their budget and how much has been earned/billed.
Video Summary: The Billing or Revenue Projection is a powerful and versatile tool for managing project finances. This feature is located at the top area of your projects and can be accessed through a drop-down menu or a top menu item, depending on your personal configuration. Its primary purpose is to provide a reliable forecast of remaining contract dollars allocated for billing or revenue purposes.
The Billing or Revenue Projection feature operates based on your project schedule. For instance, if a project phase is planned to last for five months with a fee of $50,000, the tool will automatically project a billing or revenue of $10,000 per month. If you bill or recognize a larger amount in the first month, the tool will adjust future projections accordingly, spreading the remaining amount over the remaining months.
Planifi's Billing or Revenue Projection provides users with the ability to drill down and make edits to their projections. You can edit either the percentage of remaining dollars, or the dollar amount itself. By default, the system limits the forecast to 100% of the remaining fee, but you can opt for manual projections if you want to add potential change orders or additional services.
The Billing or Revenue Projection tool is schedule-driven, meaning that it will adjust future projections based on changes to your schedule. This makes maintaining your project schedule crucial to accurate forecasting.
The tool also offers a high level of customization and specificity in its forecasts. It can use specific GL accounts for billing or revenue, enabling it to narrow down the forecast to the precise dollars you want to bill based on what has been invoiced or earned.
With Planifi, you can also filter your project list in the same way as other areas, search for specific projects, and even filter projections by a specific discipline. You can save your filters and default options to generate a specific project list.
Planifi's Billing or Revenue Projection supports a variety of schemas for different viewing preferences and also supports exporting data to Excel for further analysis. The tool stays updated with your financial system to reflect how much has been earned or invoiced and projects future dollars over the project schedules.
For any questions or support needs, Planifi offers assistance at support@planifi.net.