Creating an Advanced Quick Forecast

An Advanced Quick Forecast is a template that allows you to enter and save forecast assumptions for all accounts, and then apply them each month as you upload new data to the model.

Only one user at a time can modify an existing forecast. Multiple users can modify different forecasts at the same time.

You can save multiple templates to make the creation of what-if forecasting scenarios easier.

Select Forecasting > Advanced Quick Forecast from the menu.
You can also find Advanced Quick Forecast listed as a forecasting technique when you select the Project drop-down list on other Forecasting pages.
Select the What If model that the new template belongs to.
Later, when you define and save the Advanced Quick Forecast, you can copy it to another model by selecting Copy.
Select Add to begin the process of creating a template.
Enter a unique template Name.
Select the Forecast Type.
- Select All to include all account types in the forecast.
- Select Rates Only to allow you to create a forecast that only contains offering rates and key rates.
  
  You can use these forecasts as rate shock scenarios in the ALM module.
Select Edit Forecast.
The Advanced Quick Forecast Setup page opens.
Select the type of accounts to forecast from the Data Item drop-down list.
You can select from the following options:
- Assets/Interest Income
- Liabilities & Equity/Interest Expense
- Non-Interest Income/Expense
- Offering Rates
- Key Rates
- Supplemental Data
If you are creating a Rates Only forecast, then only Offering Rates and Key Rates appear in the drop-down list.
Select the expand and collapse icons next to an account or rate type in the Accounts column to access detailed accounts.
Use the Data Item column to specify Month End or New Volume for the projection.
Select a projection action for every account from the Project Action column.
As you determine a projection action, consider the following:
- The default setting is No Change. Only those projection actions that apply to the type of accounts that you want to project show in the grid. You cannot project calculated accounts.
- For many actions, when projecting a parent account, there is a pro-rata distribution of values from the subtotal level down to the child account level based on the month-end balances of the child accounts.
- For other actions, such as No Change, Flat, Grow by %, and Calculate Roll-Off, the same action at the parent level applies to all the child-level accounts. You can still individually adjust the child accounts after you project the parent account.
- When you apply an action to a detailed account, the action only affects that single account.
The list of possible projection actions includes:

No Change

This option specifies that the values in all projected time frames remain unchanged.

Flat

This option specifies that values in all projected time frames remain the same as the current month or the same as the last projected month of a forecast up to a certain date.

Grow by %

This option projects an annualized growth on the percentage that you enter from the selected value and time frame in the grid.

Growth % Over Last Year

This option allows you to grow the balance at the rate that you specify while maintaining seasonal trends from the previous 12 months.

Grow by Value

This option uses the amount that you enter to increase or decrease all future periods.

Add-On Value

This option adds the amount that you enter to the existing value for all projected months.

Calculate Roll-Off

This option removes new volumes from the projected periods, causing the month-end balances to roll off according to the maturity schedule.

It is available for any account when you select the Cash Flow check box in the Chart of Accounts.

YTD Value

This option uses the entered amount as the projected fiscal year total.

The YTD historical amount is subtracted from the amount entered in the Value column if part of the fiscal year includes historical months. The remaining amount, positive or negative, distributes evenly over the remaining months of the year.

This technique is only available for non-interest income/expense accounts.

Add-On YTD Value

This option divides the amount entered by the remaining, editable time frames in the current fiscal year. It adds the calculated amount to the existing value in each of the current year's projected time frames. It does not affect monthly values in subsequent projected years.

This technique is only available for non-interest income/expense accounts.

Growth % on YTD Value

This option defines a growth percentage over the previous year's year-to-date amount, and then the calculated total distributes evenly over the remaining, projected months in the year. This technique is only available for non-interest income/expense accounts.

Zero Out

This option resets targeted account values in all their projected time frames to zero.

It is available for any account when you set the Cash Flows to No, as well as for non-interest income/expenses, offering rates, key rates, and supplemental data.

Target Value

This option allows you to specify a date to achieve a target amount. It applies a straight-line growth assumption to all the time frames between the beginning and ending dates.
Specify a percentage or an amount in any projection actions that require it in the editable field that appears in the Value column.
Use the Time Frame column to either apply the default All Remaining setting or specify an end date for an action.

The default All Remaining setting appears if a single projection action applies to an account.

When specifying an end date for an action, the application adds another line for the account automatically with a Flat projected action for all the remaining time frames.
Continue working through the account lists until you have applied assumptions to all the necessary accounts.
No changes occur to any other accounts with the default Project Action of No Change.
Select Apply to save your changes and return to the Advanced Quick Forecast page.
Select if you want to run the forecast Now or set a specific date and time for Run Forecast.
Select which Organizations to apply the forecast to.
Select Run or Scheduled Run depending on your Run Forecast setting.

A notification appears when a quick forecast run starts and completes.

You can

Delete a forecast permanently or

Move the forecasts if more than one exists.