> For the complete documentation index, see [llms.txt](https://docs.phocassoftware.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.phocassoftware.com/budgets-and-forecasts/getting-started/overview-of-key-terms-and-concepts.md).

# Overview of key terms and concepts

Start here to understand how everything fits together and get the most out of Budgets & Forecasts.

Whether you're new to Budgets & Forecasts or looking to explore more about what it can do for you, the following overview pages will help you:

* [What budgets and forecasts are, and how they are different](/budgets-and-forecasts/getting-started/overview-of-key-terms-and-concepts/overview-of-budgets-versus-forecasts.md)
* [Users, data access, and security in the Budgets & Forecasts module](/budgets-and-forecasts/getting-started/overview-of-key-terms-and-concepts/overview-of-users-and-data-access.md)
* [The relationship between the Financial Statements and Budgets & Forecasts modules](/budgets-and-forecasts/getting-started/overview-of-key-terms-and-concepts/relationship-with-the-financial-statements-module.md)
* [How Budgets & Forecasts supports 3-statement budgeting](/budgets-and-forecasts/getting-started/overview-of-key-terms-and-concepts/overview-of-3-statement-budgeting.md)

Here are some of the common use cases to help with planning and problem-solving:

* **Performance comparison**: See the [Compare actuals, budgets and forecasts](/budgets-and-forecasts/contributor/review-the-budget-or-forecast/compare-actuals-budgets-and-forecasts.md) page to learn how to use the Financial Statements and Budgets & Forecasts modules together to compare your actuals against your budgets and forecasts.
* **Budgeting by region and branch**: See the [Budget by region and branch](/budgets-and-forecasts/owner-and-administrator/create-a-budget/budget-by-region-and-branch.md) page to learn how to use the combined features of the Financial Statements and Budgets & Forecasts modules to efficiently budget at a regional and branch level.
* **Operational data in a financial budget**: See [Bring in data from another database](/budgets-and-forecasts/owner-and-administrator/add-worksheet-tabs/database-tab/bring-in-data-from-another-database.md) to learn how you can use the [Database tab](/budgets-and-forecasts/owner-and-administrator/add-worksheet-tabs/database-tab.md) to bring sales, employee, debtors or other operational data into your financial budget to budget at a more detailed level.
* **Scenario planning**: See the [Lookup tab](/budgets-and-forecasts/owner-and-administrator/add-worksheet-tabs/lookup-tab.md) page to learn how you can use this type of worksheet to experiment with different assumptions and scenarios without having to create multiple versions of your budget.
* **Headcount planning**: See the [Headcount tab](/budgets-and-forecasts/owner-and-administrator/add-worksheet-tabs/headcount-tab.md) page to learn how to manage one of your biggest expenses, headcount. Create detailed budgets for each employee with data sourced directly from the HRIS system, including salary adjustments, bonuses, commissions, and benefit plans.
* **Demand (inventory or stock) planning**: See the [Demand planning](/budgets-and-forecasts/getting-started/overview-of-key-terms-and-concepts/demand-planning.md) page to learn how to create a budget based on your purchasing and stock database to ensure you've always got the right stock amount on hand.
* **Loan management**: See the [Loan repayments](/budgets-and-forecasts/getting-started/overview-of-key-terms-and-concepts/loan-repayments.md) page to learn how to manage your loan data and calculate repayment and interest amounts per period.


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