This article explains how to create a graph showing your forecast revenue. It combines invoiced revenue recognition with probability-weighted CRM and contracts information on pending invoices for closed deals, expected renewals, and new sales in progress. To create a forecast chart, you must first ensure you have the component parts set up in the associated report section, then create a graph combining the information using your choice of format and timeframe.
The first step is the configure the input reports on the Customer tab.
Configure and/or create forecast input reports
First, go to the Customers tab and create reports for each forecast revenue type.
Include all accounts you want to include in your forecast.
Invoiced sales
- Invoiced. This is a Customer tab report. This is likely an existing Revenue Recognition report. The “Included Data” type is only “Issued Invoices.” This will include revenue from invoices already issued as well as revenue accrued in ScaleXP. Ensure you have a Revenue Recognition report which includes exactly the account codes you want included in your Forecast.
Bookings
2. Contracted (Not Yet Invoiced). This is a Customer tab report. For this report, select data type “Pending.” This will pick up future invoices to be issued from deals Closed Won in HubSpot. (This requires the ScaleXP HubSpot Invoicing integration).
Renewals Expected
3. Renewals. This is a Customer tab report. For this report, select data type “Renewals.” This will include confirmed renewals from the CRM Renewals report- see below for how to further configure expected renewals.
On the “Config” page, the renewals report will automatically suggest renewals for all existing contracts. To be included in the renewals report ("Output") these need to be confirmed as Closed Won. Best practice is to match with a CRM deal as well. Read more in View/Manage your Renewals Schedule.
New Sales in Progress
4. New Sales in Progress.
This report automatically includes all Closed Won deals in your CRM as filtered by the Pipeline and Stage selected.
For this report, use the “Config” setting to set filters, adjust amounts, start dates, and end dates.
The “Output” tab will show the results as reported in your revenue forecast.
Once you have these four reports set up for your forecast revenue accounts, you are ready to create your forecast graph.
Create a forecast graph
Go to Dashboards. Create a new dashboard or add a new chart to an existing one. See Getting started with Dashboards if you need help with this.
Select stacked bar chart.
Add Actuals as your first data series
- Select Series 1
- Rename as Actuals
- Set your desired color for this series.
- Select your preferred source for actuals (accounting system data or Customer page report)
- Set Past months as desired
- Set Future months to 0
- If desired, turn on “Show numbers” toggle and set position of numbers
Add Invoiced Revenue as your second data series.
- Select Series 2 and rename it in the title box at the top
- Select MRR as your data source
- Select your desired Revenue Recognition report (created on the Customers tab, as described above)
- Select your desired colour for this series (box at top left, by name of series)
- Set the date range to -1 for Past months and add as many Future months as you would like to see in the chart.
Add Bookings as your third data series
- Add a Series using the button at the bottom of the page
- Rename the series.
- Set Display type to "Stacked"
- Set the desired color
- Select MRR and the Customer tab report which includes only “Pending” invoices. (See above for how to create this).
- Set Past months to -1
- Set desired Future months
Add Renewals as your fourth data series.
Follow the same steps as above, selecting the Renewals report this time:
- Click to add a new series.
- Rename the series
- Set the color
- Select MRR, then the renewals report from the customer tab (see above).
- Select “Stacked” as the display type.
- Set the desired date range including -1 as the Past months
Add New Sales in Progress as your final data series.
- Rename the series
- Set the color
- Select “New Sales” as the Metric.
- Then select “In Progress, Forecasted Weighted Deal Value” as the data report type.
- Select Stacked as the Display type.
- Set the desired date range.
Add a total revenue forecast
If desired, add a line for the total sales amount and set it to show numbers
- Add another series
- Name it
- Select Formula as the Metric
- Add the metrics used in the report
- Set the desired line colour
- Set the line date range starting with -1 for Past months
Give the chart a title
- Select Chart Name & Settings in the left sidebar
- Change the Chart Name in the box
