How to update the finance planning duration and start date?

In business, adapting to change is crucial, and sometimes that means adjusting your business plan's timelines. You can easily update your plan's start date and duration to reflect new business strategies or compliance needs. 

Depending on your subscription plan, you have the flexibility to set the plan duration for up to 10 years, allowing for long-term planning and adaptation.

Steps to Update Plan Duration and Start Date:

1

Navigate to the Finance Forecast module. Then, locate and click on the Settings option to proceed to the next step.

2

 In Settings, find Forecast Settings and click on the Change Settings option. 

This action will open a pop-up window where you can update key financial planning parameters.

• Financial Year Start From: Choose the month when your fiscal year will start. This is crucial for aligning your financial reporting with tax obligations and internal accounting policies.
• Plan Duration Time: Specify the total duration for which the financial plan will run, depending on your business needs.
• Forecast Starts From: Set the date when your financial forecasting should begin.

TIP: If you would like to conduct scenario planning, click here to learn more.

3

After entering all the necessary details, click the OK, Done button to save your settings.

The system will automatically update your financial forecasts and related data according to the new settings.

These steps make it simple to update your financial planning duration and start date. With these steps, you can easily change your forecast setup as per your needs and keep your projections accurate and relevant.