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 P&L forecasts can now be built within QuickBooks Online Advanced.

Intuit said this month users can build forecasts for a prior year’s actuals or an average of the actuals from the prior 3, 6, 9, or 12 months. Client forecasts can then be converted into budgets and users can create rules to forecast specific accounts by a percentage. In addition, revenue recognition updates are available in advanced. Revenue recognition schedules are automatically calculated but clients can edit a schedule after saving invoices. Clients can now add products or delete product line items on an invoice or sales receipt, or void an invoice or sales receipt for any reason after the fact. They can also adjust the price of a revenue recognition item. Before schedules are posted, they can also revise the service data of a line item.

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