Sage 50 Forecasting is an ideal solution for all type of businesses, be it small or big. With the help of this software application, you can run and grow your business confidently. You can quickly produce reports without the need to update every single data entry.
A perfect report can be automatically updated as soon as the forecast changes. It gives you a detailed financial forecast with the potential business scenario. There are some important forecasts that a company should implement in their business plans like financial projection. You can quickly and easily find out your future status of finances. You can create a forecast directly from the data in the Sage 50 software.
If you are unable to create Sage 50 forecast, you should seek the help of Sage 50 technical support team, who can help you create a new forecast to manage the finances of your business.
The Process of Creating a New Forecast
After installing the Sage 50 forecasting, you can create a new Forecast from Sage 50 account data for your business. Sage data here means the existing financial data of the business, which you can use to create a Forecast for your business. Let us take a look at the process:
Creating a new Forecast Manually
- A welcome window will appear after opening Sage 50 forecasting
Note: There are two ways to create a forecast, one is manually and the other is from Sage data account.
- Now go to file option, then select New Monthly Forecast or Weekly Forecast.
- Enter the length of time in years
- Enter the date when the financial year begins
- If you want to create a weekly forecast, then you need to specify how monthly period should be divided into weeks.
Note: Weekly structure can be like the following
- 4 weeks in month 1
- 5 weeks in month 2
- 4 weeks in month 3
- Specify the date on which you want to start entering data
- Enter company details
- Enter subheading to the company details mentioned
- Keep a note of forecast you are creating
- You will see a drop-down list, select the currency that you require for the Forecast
- The currency will be default to the Base currency in Sage 50 Account data
- The reports produced by Sage 50 Forecasting will be in the specified currency
- You can apply for other currencies to your records in Sage 50 forecasting after the forecast is created
- Click on the OK option
Creating forecast from Sage 50 Account Data
Sage 50 Forecast will be created on the chart of accounts present in the Sage 50 account
- Go to File option
- Select New Monthly Forecast from Sage 50 Account Data
- Click on Scan option, if no companies appear
- Then, select the required company and click on Connect
- On the other hand, Click on Browse option and locate
- Select the Company File and then click on the option OK.
- Now, select the Company and then click on Connect option
- Enter your Username and Password of Sage 50 Account and then click on the OK option
- Complete the process of creating Sage 50 Forecast from Sage 50 charts of accounts window
- Click on OK option from the initial forecast window
- To view the guide on how to proceed with your forecast, click on Yes option
After the process of forecast creation gets completed, you can open the forecast and check the records of your company. Your forecast data in Sage 50 forecasting is linked to your precious and present year.
You can check all the budgetary information in Sage 50 accounts as it the forecast data is linked to your actual data. Once you have created a new forecast, you are required to setup different records to represent your business. You can efficiently find sales record, cost record, wages record, stock record, financial asset, liability record, loan record, etc.
In addition, if you are unable to create Sage 50 Forecast, it is advised to seek the help of Sage Technical Support Team from Accountinghub, who can provide you basic instructions, hints, and tips to create Forecast and help you get Sage 50 Forecast running. Sage experts ensure that you are getting most out of the software and help you become more efficient.