Forecasting is a huge part of knowing your numbers.
In Sisu, there are a handful of options for forecasting transactions and the commissions associated with them, as well as forecasting net income. All forecasts are based on two fields in the platform:
- Settlement date. This is the core field used to track closings. If a transaction has a settlement date that is today or in the past, it will count as closed. If a transaction has a settlement date in the future, that transaction will be added to any of the reports used for forecasting. Once the future settlement date arrives, it will automatically be counted as closed (which can be easily reversed if needed).
- Forecasted closed date. This field accomplishes the same feats for forecasting, with one difference: If a transaction has a forecasted settlement date and that date arrives, it will not be marked as closed automatically. This means your team will need to go in and manually add the settlement date once the transaction actually closes.
Not seeing the "forecasted closed date" field as an option? Head over to admin>team settings>forms and fields. Click "edit" on the transaction sheet. Move the "forecasted closed date" field from "unused" to "in use". You can also modify the order that it shows up in.
The field that you use is all preference. Do you want your transactions to go closed automatically on the settlement date, and then adjust them later? If so, use the settlement date. Do you want to have a little more control and would rather manually enter settlement date once it actually happens? Use forecasted closed date.
Reports with Forecasting Built-In
The following reports will factor in future settlement dates or forecasted closed dates when their date range is set to the future:
- The income report.
- The commission report
- Any graph on the snapshot page which contains the words "closed and pending"
- Filtering for "closed and pending" in the transaction screen.
Watch this video explaining how to use forecasting in Sisu: