Overview
Once your chart of accounts is built and your actuals data is imported, the next stage of the build process is entering your forecast data.
Castaway offers two approaches to entering forecast data depending on your preference and the volume of data involved. It is important to ensure your element settings are configured correctly - these control how each element models revenue, costs, cash flow and other key assumptions, and directly affect the data entry rows available to you.
Entering Forecast Data
There are two ways to enter forecast data in Castaway:
| Method | Best Suited For |
|---|---|
| Manual Entry | Entering or adjusting data element-by-element directly in Castaway. Useful for smaller models, targeted updates or where data does not exist in a separate spreadsheet. |
| Upload Forecast Data Template (UFDT) | Bringing data into Castaway in bulk via Excel. Ideal for larger models, where budget data already exists in a spreadsheet, or for scenario planning and version control. |
Both methods can be used together - for example, uploading the bulk of your forecast data via the UFDT and making targeted adjustments manually element-by-element.
Reviewing your Forecast
Once forecast data is in place, reviewing the numbers is an important step before reporting. A structured review covers three areas:
- Element settings - confirm the settings applied to each element are appropriate for what is being modelled
- Working capital settings - confirm tax rates, payment terms, cash flow methods and other working capital items are correct
- Reports - run a sanity check across the P&L, Balance Sheet and Cash Flow to identify any major issues
For a full structured review process, refer to: Reviewing a Castaway Forecast
Further Reading
- Overview: Building your Chart of Accounts (CoA) via Integrations
- Process: Building your Forecast
- Troubleshooting: Upload Forecast Data Template (UFDT)
If you need any assistance please contact our support team at: support@castawayforecasting.com