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In this article we will explain how forecasting works in Moment, and how this can be used to get a picture of coming income in your projects.
First, you need to enable Moment to calculate probabilities. This can be done under setup > settings > projects > price models
In here, enable "probability is used for fixed price/subscription price models"
Second, navigate to a project where probabilities are relevant. This feature is only available for Fixed Price or Subscription price models.
In the price model, you can add a probability to the price models. In Moment, different activities can be added to different price models. In this case, the price model carries the probability. In practice this means that if different activites will have separate hourly rates and different probabilities, then you have to create one price model for each activity.
In the price model, you can add different probabilities. By default this is set to 100%, but the available options are 0,10,25,50,75,90 and 100%. In our case we will set the probability to 50% on the first price model.
In our example we also need to add at least one payment in our payment plan. This way Moment will be able to calculate the probability and show accrued income. We will explain more about this in the future.
The tab "Forecast" is available both at company and project level. On project level, the report will show you the accrued income for each price model in the project that has probabilities. The income will be accrued for each month and discounted by the probability percentage.
To make it easier to identify the price models with the activities they are connected to, it is a good idea to give the price models the same name as the activity when possible.
The difference between "Forecast" in projects is that the left side shows first the customer, project and price model it is related to. It is also necessary to see the discounted accrued income that you click to display "Show and calculate probability"
The report at company level can also be grouped by project name, customer and project tags. It is also possible to select specific project tags. All this choices are available in the header menu in the report.