Business Forecasting EOFY process

Simona Riftin

05 June 2026 07:58

Business Forecasting (BFM) EOFY

Business Forecasting EOFY process

Complete the BFM end-of-period review, post journals, and finalise your P&L before rolling BFM into the new financial year.

Overview

At the conclusion of the BFM end-of-period review process and the printing of any applicable reports, post the BFM journals before rolling over BFM.

You can continue to make changes to projects in BFM and repost any changes until the P&L is satisfactory. Once BFM EOM is run, no more changes to the P&L can be made.

Warning

Once BFM EOM is run, no further changes to the P&L can be made. Ensure your P&L is satisfactory before proceeding.

Step 1 — Complete the end-of-period review and print reports

Before rolling BFM, complete your end-of-period review and print any applicable reports. You may run the following reports:

BFM Contract Trading Reconciliation
BFM Revenue Gross Margin
Profit & Loss Report

Step 2 — Post BFM journals

Post all BFM journals before rolling over. Once BFM EOM is run, no new journals will be generated.

1	Go to the BFM Journal Generation screen. Business Forecasting > BFM Utilities > BFM Journal Generation
2	Generate the journals so all accruals and work in progress entries flow into the P&L.
3	Make any corrections needed and run journal generation again until the P&L is satisfactory. Each run posts only incremental changes.

Note: You can continue to make changes and repost until you are satisfied with the P&L. Once BFM EOM is run, this is no longer possible.

Step 3 — Check your P&L

Before running BFM EOM, confirm the P&L is accurate and reflects all project activity for the financial year.

1	Go to the Profit and Loss report. Finance > General Ledger > Financial Statements > Profit and Loss Report
2	Review Total Direct Revenue, Total Direct Expenses, and Gross Operating Profit / (Loss) for the full financial year.
3	If corrections are needed, return to Step 2 and repost BFM journals before proceeding.

Step 4 — Run BFM end of month

Once the P&L is satisfactory, schedule the BFM end of month to roll BFM into the new financial year.

Important: This step is final. Once BFM EOM is run, no more changes to the P&L can be made. Confirm everything is correct before proceeding.

You're done when:

✓ All applicable reports have been printed

✓ All BFM journals have been posted and the P&L is satisfactory

✓ BFM end of month has been run and BFM is rolled into the new financial year