Creating estimates

Note: If the previous sales entries on which estimates are based contain user analysis values for Strategic Ledger analysis, then that data is copied to the estimate for reference purposes. See the Strategic Ledger User Guide for information.

An estimate is a type of sales entry that you create to collect preliminary sales data to monitor your cycle sales results. Estimates contain system-calculated net sales and charges that you use to identify un-invoiced sales charges for a cycle, and to predict planned sales charges for a cycle. Estimates duplicate the closing sales entries for the previous business cycle of a contract. You can create estimates only once in a cycle for each contract.

Before you run Create Estimates (FR130), you must create active customer contracts on Customer Contract (FR10.1). You cannot create estimates for inactive contracts.

Call-in estimates or actual invoice sales entries must exist before you can create your first estimates. See Creating first-time sales entries.

Follow these steps to create estimates:

Run Create Estimates (FR130) to create estimated sales records and to print a report of all estimates created for the cycle date you define. Estimated sales are created based on the last call-in estimates or actual sales amounts.

Note: After you run FR130, you can view the created estimates on Sales Entry (FR20.1). You can use estimates, in the absence of actual sales figures, to create accruals when you run Accrual Closing (FR190).
Review the estimates report to determine whether estimates are complete. If the Estimated Net Sales and Estimated Charges columns contain monetary values, then the estimates are complete. If the Estimated Net Sales and Estimated Charges columns contain messages, or if an error message is displayed, then the estimates are incomplete. See Related procedures for completing incomplete estimates.