How to approve a forecast or budget in PMI
How to send in/submit your budget/target or forecast in PMI Planning module. NB! Moved from Submit to Status in tools box.
Summary
When your budget/target/forecast work is completed and you wish to send in/freeze these figures to become a selectable version in PMI Planning, follow the instructions below. This process is formerly know as “submit” also in PMI Planning but is now found in Tools as “status”. It is the actual approval process that is described in this section. Depending on your user rights you are only allowed access to your departments in Planning and only allowed to approve or “submit” your part to forecast or budget/target.
Intended Users
Budget/Target and Forecast owner, Controllers, General Managers, Head Office Controllers.
Requirements
The appropriate user rights.
Instructions
The approval process flow is as follows:
When in the accounts view in PMI Profit and Loss, find “status” in the tools box. First choose Budget/Target or Forecast to submit at the top.
- The forecast/budget/target owner should when the forecast/target/budget is done go into Status under Tools and set the department to Ready. The plus sign allows you to open and see the latest saved versions, who updated and when.
- When all departments are set to Ready the responsible with Controller user rights should either set the department to Locked or Rejected (if the department should redo the forecast/budget/target).
- When all departments are set to Locked the Submit button at the bottom will be green. It is then possible to submit the entire property. Choose a period to submit in the Submit part above and write a comment if needed. If you only lock part of year and keep that locked, rest of year will have status Live. You need to press the + sign in front of the department in Status to get an overview of what is locked. You are also able to view this in the account plan.
- After the forecast/budget/target has been submitted it will be displayed at the top as Report Versions. You will see the date the forecast/budget/target was submitted, which user completed it and for what period. When submitted, the forecast/budget/target will have the status Pending.
- The responsible person with Controller user rights is then able to set forecast/target/budget version from Pending to Approved or Rejected in the top section of the status page.
- When all is submitted and approved the responsible person with Controller user rights needs to set all departments to Live – until then all live forecasts/targets are locked for the individual department owners to work with.
You are able to set all departments to different status simultaneously by clicking the heading tick box.
After submitting you will see that the accounts are locked and there is a message telling you the status along side the lock icon. Please note that this version is a snap shot of figures only, it does not contain any formulas or connections and cannot be altered. If you for some reason detect this version is not correct, please just re-submit another version following the steps 1-6 above.
Lock PMI R&P Budget/Target figures
It is possible in the Status module to also Lock PMI R&P Budget/Target Revenue and Hours separately. This to avoid accidental change to the budget/target figures in PMI R&P.
Recommendations
It is recommended to set up a good internal work procedure so all forecast/target owners know exactly the timelines to follow each month.
Note
Note that even if the Status tool is available in the Report module and Account Summary module, the Submit option will only be available from the Accounts module.
Approve Several
As a Head Office Controller you might want to approve multiple hotels simultaneously, within a group or all hotels. To avoid having to do this one by one, use the Approve Several feature in the Tool menu.
You will only get hotels you have P&L user access to on the list.
Only last submitted forecast/budget/target with status Pending can be Approved. The list will display all hotels in the group you choose and you can see by whom and which date it was last approved. If the tick box is enabled, a new submitted forecast/budget/target is ready to be approved.
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Getting started
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PMI Release notes
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- KPI targets enhancement - July 2024
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- Date picker enhancement - July 2024
- Update to NextGen Rooms Live forecast - June 2024
- P&L planning accounts enhancement - June 2024
- Weather normalization enhancement May 2024
- Update to NextGen Rooms Live forecast page: Sense check updates, May 2024
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- PMI adoption index enhancements - April 2024
- Consolidation OTB enhancement - April 2024
- Update to NextGen Rooms live forecast page: Personal view options, Mar 2024
- User administration enhancements March 2024
- GM daily digest enhancement March 2024
- PMI Index calculation updates for 2024
- KPI targets enhancement February 2024
- KPI targets enhancement - January 2024
- CO2 factors enhancement - September 2024
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- GoGreen Doing cockpit enhancement
- Benchmarking: PMI Index value updates based on time period selected
- GoGreen cockpit: Highlight months missing data on 12 month graph
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- Goal distribution tool enhancement - September 2023
- Planning set up enhancement: Roll forward forecast
- Live forecast enhancement: Editing ARR values
- User administration release note
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- 15th of March – Ability to reverse Benchmarking calculation
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- 15th of March – Printing to excel and PDF
- 16th of March – Introduction to PMI
- 26th of April – Room Live Forecast – Change to pickup fields
- Import status enhancement - September 2022
- 7th of September – Information/calculation rows in PMI schedule
- 9th of August – Export to Google Sheets
- 9th of June – PMI Advanced settings – Period locking
- GM daily digest enhancements
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- Profit center Live forecast: Automatically switch between OTB and revenue driver
- SMART Forecast enhancement - September 2022
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Onboarding
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- Revise staff
- Schedule 1/8 Navigation [5:12]
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- Schedule 4/8 How to create a shift code [3:30]
- Schedule 5/8 How to add shift codes to team members [3:41]
- Schedule 6/8 How to create a rotating schedule [3:20]
- Schedule 7/8 How to replace shift codes for a period [2:00]
- Schedule 8/8 How to create split shifts between departments [2:42]
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GoGreen
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FAQ
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