Who Uses This Software?

Forecast 5 is the leading forecasting and budgeting product for Chartered Accountants, Corporations, Not for Profit and any entity needing to budget.


Average Ratings

14 Reviews

  • 3.5 / 5
    Overall

  • 3 / 5
    Ease of Use

  • 3.5 / 5
    Customer Service

Product Details

  • Starting Price
    $119.00/year/user
  • Pricing Details
    Our pricing starts at $85 per month* Offer a total of 4 packages
  • Free Trial
    Yes
  • Deployment
    Installed - Windows
  • Training
    Documentation
    Webinars
    Live Online
    In Person
  • Support
    Online
    Business Hours

Vendor Details

  • Forecast 5
  • forecast5.com/
  • Founded 2013
  • New Zealand

About Forecast 5

A forecasting and budgeting product for chartered accountants, corporations & not for profits.


Forecast 5 Features

  • "What If" Scenarios
  • Asset Planning
  • Balance Sheet
  • Cash Management
  • Consolidation/Roll-Up
  • Forecasting
  • General Ledger
  • Multi-Company
  • Multi-Department/Project
  • Profit/Loss Statement
  • Version Control

Forecast 5 Reviews Recently Reviewed!


Forecast 5 Review

May 02, 2019
4/5
Overall

2 / 5
Ease of Use

3 / 5
Features & Functionality

5 / 5
Customer Support

3 / 5
Value for Money
Likelihood to Recommend: 5.0/10 Not
Likely
Extremely
Likely

Pros: The ease of reporting, having multiple reports produced at the click of one button & having them export into a file which is easy to format or make additional comments if required. One touch reporting made it easy & clear to read the data for all users.

Cons: We are continually asking for assistance to find that new development needs to happen to allow us to do what we need to do, for example, we needed to have the ability to have transactions entered that didn't affect the bank statement as the system works via the bank statements, so the ability to create journal transactions had to be created. Things aren't always clear, and we had many phone calls and emails back and forth with support relating to the cash bank balance. Forecast 5 set up required a lot more time & effort than we were probably lead to believe.

Overall: While we have had some issues in setting up the program in order to have it mimic our accounting system, the ability to generate additional reports for the bank was great. Setting up a forecast for future years proved difficult and again required assistance and a lot of time, something we thought when we purchased would have been an easy task, for which we purchased it.

Fix All Those Spreadsheet Budget Problems...

Apr 25, 2019
4/5
Overall

4 / 5
Ease of Use

4 / 5
Features & Functionality

5 / 5
Customer Support

4 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
Likely
Extremely
Likely

Pros: As a previous user of WinForecast I had not found a cost effective alternative that came anywhere near to its ease and flexibility until I found Forecast5 (F5).

It is easy to use, quick to pick up and flexible in how you use it so it can quickly replace the old spreadsheets and guarantee your PL, BS & CF always reconcile with no errors and imbalances. Moving over from the old WinForecast forecast model proved straight forward.

The instructions on line are basic, but sufficient to get you going and the support from the F5 and their UK representative has been great - quick accurate and to the point. As is the case of a lot of software you can end up only using a fraction of its capability as you were not aware of all that could be done so. To help get the best out of your investment there are real-time online training classes covering basic and advanced techniques and F5 have just launched access to on-demand online training that updates as the product updates.

Cons: The interface is a little old fashioned and reporting can be limited plus it would be great if it was easier to share occasional access with my Finance and management team more cost effectively and without configuring shared file or network access.

I understand that a cloud based version is coming which should take F5 to a new level and cover these issues.

Powerful Integrated Financial Modeling

Apr 28, 2019
4/5
Overall

4 / 5
Ease of Use

5 / 5
Features & Functionality

3 / 5
Customer Support

3 / 5
Value for Money
Likelihood to Recommend: 3.0/10 Not
Likely
Extremely
Likely

Pros: Customised formulas - powerful

Fully Linked Profit & Loss - Balance Sheet - Cash Flow

Linking to external spreadsheets to import live data and have it interact with the results

Cons: Network-ability

Setup complications

Operating documentation

Slow recalculations

Restricted reporting formats

Overall: The Forecast 5 software was being used by our corporate accounting and auditing firm. The software is also recognised by our banking institution, and it allows us to provide financial forecasts to both on a regular basis.

Review Forecast 5

Apr 25, 2019
4/5
Overall

5 / 5
Ease of Use

4 / 5
Features & Functionality

4 / 5
Customer Support

4 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
Likely
Extremely
Likely

Pros: It is one of the simplest budgeting and forecasting software products I have used and compare favourably with other budgeting software like TM1. It also offers a trail which enable clients to use the software before making a financial commitment. It also enables you to create visuals to share with clients, rather than just straight data.

Cons: In contrast to other tools, Forecast5 does not produce a produce that goes beyond forecasting.

Overall: We are using Forecast 5 to do budgets and forecasts for our clients, both for income and cash flow purposes. Hence, there is better control over spending and opportunities to monitor revenue, so no surprises at the end of the year - hence putting control in their hands.

Avoid the errors!

Apr 27, 2019
4/5
Overall

3 / 5
Ease of Use

4 / 5
Features & Functionality

4 / 5
Customer Support

2 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
Likely
Extremely
Likely

Pros: Integration of financial reports (P&L, Balance Sheet, Cash Flow etc) without the issues inherent in spreadsheet-based models.

Cons: Relatively expensive for what in small companies may get limited and sometimes only annual use.

Overall: Providing differing scenarios for various business cases.

Review

Apr 30, 2019
3/5
Overall

2 / 5
Ease of Use

2 / 5
Features & Functionality

4 / 5
Customer Support

1 / 5
Value for Money
Likelihood to Recommend: 5.0/10 Not
Likely
Extremely
Likely

Pros: profit and loss and balance sheet fit together easily

Cons: Quite clunky and slow. Tends to crash often.

Needs standard templates.

Printing multiple reports at once in the correct format doesn't appear to be possible.

Overall: Cashflows. I probably don't use it enough.

It would be good if it was online.

Mountain jade

Apr 25, 2019
3/5
Overall

4 / 5
Ease of Use

4 / 5
Features & Functionality

3 / 5
Customer Support

3 / 5
Value for Money
Likelihood to Recommend: 5.0/10 Not
Likely
Extremely
Likely

Pros: It was big step up to using spreadsheets. Being able to consolidate separate budgets is a big advatage

Cons: Lately had few issues and had to come up with solution on my own.

Not being able to just undo one month of actual data.

Overall: Ones you know how to use it it's very helpful with planing being able to look at different options and see the possible outcome. Very helpful with projecting cash flow.

Strong budgeting tool

Apr 30, 2019
3/5
Overall

4 / 5
Ease of Use

4 / 5
Features & Functionality

2 / 5
Customer Support
Likelihood to Recommend: 8.0/10 Not
Likely
Extremely
Likely

Pros: 'What if' scenario forecasting is great

Cons: I'd like to see functions that:

- Allow you to group your forecasts into folders, so you can separate the different years, otherwise you're trolling through forecasts to open the one you're looking for.

- Allow the formulas to be kept after exporting to excel; Currently the numbers get hard coded in to excel

- Export directly into Xero. That would be hugely beneficial.

- Be able to export individual details within salary groups

Overall: Great to be able to update changes to Budgets / Forecasts quickly, giving you an instant view of outcomes.

Forecast 5 Review

May 07, 2019
4/5
Overall

2 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 7.0/10 Not
Likely
Extremely
Likely

Pros: Consolidation was the most important. Also the ability to drill down to low level account budgets and to condense into high level account budgets.

Cons: Very complex with adding some of the data and not being able to move line items between sections.

Overall: Consolidation of all company budgets and connecting excel data to feed into Forecast 5 for sensitivity scenarios.

forecast 5 review

Apr 25, 2019
4/5
Overall

3 / 5
Ease of Use

4 / 5
Features & Functionality

3 / 5
Customer Support

4 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
Likely
Extremely
Likely

Pros: The integration of Profit and Loss, Cash Flow and Balance Sheet reporting that is generated. Also the number of different ways the variable parameters could be puit in place for different income and expense categories.

Cons: So far as a new user getting the depreciation to work properly for Dimishing Value deprecaition on assets is proving a challenge and an opportunity

Overall: I think the ability to tweak budgets and forecasts quickly, knowing that the add throughs work is a bonus.

GW Review

Apr 30, 2019
4/5
Overall

3 / 5
Ease of Use

4 / 5
Features & Functionality

4 / 5
Customer Support

4 / 5
Value for Money
Likelihood to Recommend: 9.0/10 Not
Likely
Extremely
Likely

Pros: Very easy to use but you must follow a set procedure t get a correct model

Assumptions such as days to pay invoices and payables are very important

Cons: Have had some issues entering starting balances.

Cannot enter more than 2 decimal places.

Had some issues with calculations with debtor finance...wasn't certain the model was calculating correctly. However relatively easy to test.

Overall: Future cashflow needs for bank financing

BJG

Apr 25, 2019
3/5
Overall

2 / 5
Ease of Use

2 / 5
Features & Functionality

2 / 5
Customer Support

1 / 5
Value for Money
Likelihood to Recommend: 2.0/10 Not
Likely
Extremely
Likely

Pros: Download from Xero

Able to forecast Balance Sheets

Cons: Not easy to get training, expensive for training and annual charges

Overall: Not operating yet as desired but largely due to lack of time spent on the product

Great support

May 07, 2019
5/5
Overall

4 / 5
Ease of Use

4 / 5
Features & Functionality

5 / 5
Customer Support

4 / 5
Value for Money
Likelihood to Recommend: 9.0/10 Not
Likely
Extremely
Likely

Pros: So easy to use even for the non-Accountant with lots of functionality. What impresses me most is both the support received and that they continue to develop it in collaboration with their customers.

Cons: Still workons like cloud based which I understand they are currently working on

Overall: Made it easier for our business

Too many issues, lack of some basic features, and really poor support

May 01, 2019
1/5
Overall

3 / 5
Ease of Use

2 / 5
Features & Functionality

1 / 5
Customer Support

1 / 5
Value for Money
Likelihood to Recommend: 3.0/10 Not
Likely
Extremely
Likely

Pros: It is fairly easy to set up, and use and generating reports is good( ish)

Cons: Crap support! They always ask for moneyfirst to discuss a problem. Always blame you for the problem. No manuals or online help - for the casual user like myself that uses it to plan departmental budgets remembering the training is hard work. Some of the querks are frustrating like not being able to set a mid year slary increase. The other major issue with this is I can't roll up common expendature like travel, for each departments as a single view ! I have to buy more software for that

Overall: Has a lot of p[otential but too many issues not enough support.