Budgeting with Reference Data

Accessing Reference Data Settings

The row reference data will automatically populate with actuals from the prior two years. You can instead use Budget or Forecast data from the prior two years by going to Advanced Settings in your budget. This setting controls the reference data your drivers use.

Modifying the row reference data settings is especially important when creating Multi-Year Budgets, as it determines how future years are calculated. For more information, see our Multi-Year Budget Creation Guide.

Important: Row reference data settings will not affect values you've entered manually in custom rows—only rows using automated drivers that reference prior data, such as those set to the Based on Previous Year or Forecast Algorithm, will update based on these settings.

Refreshing Row Drivers

When budgets are connected, changes don't flow automatically. After refreshing the row drivers, be sure to Save the budget/forecast. Row drivers can be refreshed in three different ways, depending on your needs:

Refresh Once

In the Advanced Settings, check "Refresh all row drivers - Applied Once" and save (refreshes both statements simultaneously)

Best for: Creating a baseline budget that won't change as new actuals come in

Always Refresh When Opening

You can configure your budget to refresh drivers automatically whenever the budget is opened. This is particularly helpful if your referenced actuals and budget data change frequently, ensuring you're always working with the most current projections.

Best for: Rolling forecasts that need to stay current with the latest actual data

Manual Refresh

You can manually refresh drivers at any time by clicking the refresh icon in your budget P&L or Balance Sheet. This gives you control over exactly when driver calculations update.

Best for: Situations where you want to review changes before accepting them, or when you're making frequent adjustments to reference data

Refreshing Data Sheet Referenced Data

If changes are made to your connected Google Sheets, Excel files, or Data Sheet references, you'll need to refresh the data in your Budget/Forecast Data Sheet:

In the Data Sheets tab of your budget or forecast, look for the refresh option
Click to Refresh Data Sheet Connected Sheet Values
This will update your Budget/Forecast Data Sheet with the latest information from your external sources

This ensures your budget or forecast always reflects the most current data from your linked spreadsheets.

You can also enable the option in the Advanced Settings to Always refresh data sheet when opening this budget. After enabling this, the data will auto-refresh each time you open the budget or forecast, and you will need to save the budget or forecast once you have opened it.

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