Managers generally are not fond of planning yearly budgets or engaging in other forecasting exercises since it’s viewed as time taken away from their real jobs. But with Microsoft Forecaster 7.0, the budget process doesn’t have to trigger instant headaches.

Available in Microsoft Dynamics GP, the Forecaster app has a familiar spreadsheet-like interface along with some special features that allow managers to quickly budget for key areas such as equipment, staffing, and revenue. Forecaster has reduced some of the number crunching tedium by providing a percentage or dollar value change function that will automatically update rows and columns of numbers.

In addition, there is also an Excel add-in for FRx Forecaster that even lets your budget personnel do some of the work offline.

The bigger issue with budgeting is that it involves several layers of accounting data, usually with different departments or individuals responsible for each part. Microsoft Forecaster recognizes this natural hierarchy by organizing the data down to the account level and then automatically rolling the budgeting numbers up the chain.

To keep track of who’s working on each budget section, Microsoft Forecaster includes a powerful workflow function. After configuring the routing flow, the budget staff then can submit, approve, or reject the proposed numbers. As the process moves along, email notifications are sent out to notify participants of the overall status and potential bottlenecks.

Microsoft Forecaster makes budgeting a collaborative effort, and will help your company speed up the time spent on planning for the next quarter or next year’s numbers.

 

MIG & CO. – MIG is a Professional Consulting Firm that specializes in the implementation of business management software solutions including Microsoft Dynamics GP, SL, NAV, AX, and CRM. We automate business processes to ensure our customers work efficiently. A New York City based Microsoft Dynamics Gold Partner, primarily serving New York, New Jersey and Connecticut.

Microsoft Forecaster Speeds Up the Budgeting Process is a post from: Accounting Software Blog

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