Overview of key terms and concepts

Start here to understand how everything fits together and get the most of out 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

• Users, data access, and security in the Budgets & Forecasts module

• The relationship between the Financial Statements and Budgets & Forecasts modules

• How Budgets & Forecasts supports 3-statement budgeting

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

• Performance comparison: See the Compare actuals, budgets and forecasts to learn how to use the Financial Statements and Budgets & Forecasts modules together to compare your actuals against your budgets and forecasts.

• Scenario planning: See the Lookup tab 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 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 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 page to learn how to manage your loan data and calculate repayment and interest amounts per period.