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Quicken 2009 The Official Guide
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already created a forecast and want to create a new one, choose Options | Update Forecast on the Cash Flow Forecast window s button bar. How you proceed depends on the kind of data you use budget data or register data.
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Creating a Forecast with Budget Data To create a forecast with budget data,
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enter beginning and ending dates for which you have a budget. This will normally be the current year. Click the Advanced button to display the Advanced AutoCreate dialog, shown here. Select Create Both in the top part of the dialog and From Budget Data in the bottom part of the dialog. Click Done to save your settings, and then click OK in the Automatically Create Forecast dialog to create the forecast. Figure 18-8, shown later in the chapter, illustrates a forecast based on a budget.
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Creating a Forecast with Register Data To create a forecast based on register
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data, enter beginning and ending dates for which you have register data. The time span should cover at least six months; for best results, it should cover a full year. Click the Advanced button to display the Advanced AutoCreate dialog. Select Create Both in the top part of the dialog and From Register Data in the bottom part of the dialog. Click Done to save your settings, and then click OK in the Automatically Create Forecast dialog to create the forecast.
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Entering Income and Expense Items
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Once you ve created a forecast, you can fine-tune it by entering or modifying known or estimated events. Click the Income Items or Expense Items button in the Cash Flow Forecast window (see Figure 18-8). The Forecast Income Items or Forecast Expense Items window appears, as shown on the next page; use this window to add, modify, or delete items.
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To display either income or expense items, select one of the Show options. To edit an item, click it to select it and enter a new value. To add, modify, or remove items, click the New, Edit, or Delete button.
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18 / Reducing Debt and Saving Money
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Figure 18-8 This forecast was based on budgeted expenditures for the current year with known and estimated items.
Quicken 2009 The Official Guide
When you click New or Edit, the Create New Income/Expense Item or Edit Income/Expense Item dialog appears, as shown here. (The name of the dialog changes depending on whether you are creating or editing an income or expense item.) Use this dialog to enter or edit information for a forecast item. The exact name of the dialog varies, depending on how you re using it, but the options are the same. Start by selecting the Income or Expense option to determine the type of item you are creating. Then fill in the remaining fields with information about the item. You can click More to select a category for the item and set the total number of entries for a recurring item. When you re finished, click OK.
Working with Scenarios
When you create a single forecast, you create a forecast for the base scenario. Just as you can have multiple budgets, you can also have multiple forecast scenarios.
Creating a New Scenario To create a new scenario, choose Manage Scenarios from the Options menu on the Cash Flow Forecast window s button bar. The Manage Forecast Scenarios dialog, which is shown here, appears. Click New to display a dialog in which you can enter a scenario name and choose to copy the existing scenario. When you click OK, the new scenario s name appears as the selected scenario on the Scenario Data drop-down list. Changing a Scenario s Display The Display Options in the Manage Forecast Scenarios dialog let you change the display of a selected scenario:
18 / Reducing Debt and Saving Money
Current Scenario Only, which is the default option, displays only one scenario in the Forecasting window. Show How Forecast Looked On enables you to update the scenario for the current date. Select this option, and then click the Update button. Compare Current Scenario With enables you to include two scenarios in the Forecasting window (see Figure 18-9). This makes it easy to see how one differs from the other.
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