Actuals

Specify your last closed month to include your most recent financial data

Forecasts do not recompute as you update the Last Close and show new actuals.

The last close date determines which months include synced data from your data sources. It is ideally updated on a monthly basis, as you complete your monthly close process.

Last close is used in addition to forecast start to have two parallel series of values so that we can compare forecasts to actuals. The last close is ultimately what enables budget variance analysis (BVA) in Francis, as this allow you to compare actual financial performance against budgeted or forecasted values.

Last Close cannot be later than the current calendar month.

Selecting the last close date for your financial model

Example: All transactions have been recorded for Feb 23, so Last Close is set to Feb 23