How do I create a new Version and what do the different options control?
This article provides an overview of how to create a new version. This article is intended as a summary and more detailed information can be found in the Versions section of our product documentation.
How to Create a New Version
1. Click on the Create New Plan Version button to get started.
2. You can then add a Name, Short name (for use in Adaptive Discovery), and Description for the version.
3. Specify who should have access to the new version in the Access Controls section.
4. Set the Options for the version.
- Fiscal Year: This is a global setting that applies to all versions in your instance.
If you would like to change the Fiscal year for your entire instance and you are the model administrator, please contact email@example.com confirming the instance name and new Fiscal year dates.
→ Related Topic: What Happens When You Change Your Fiscal Year?
- Left Scroll Limit: This setting controls the first month that will be displayed (and made available in reports) for the version. The left scroll limit month will always be the first month of the fiscal year.
→ Helpful Hint: The left scroll limit can not be adjusted at the time the version is created. If the left scroll limit should be changed, create the new version with the existing left scroll limit and then go back after it is created to adjust the field.
- End of Plan: This is the year the version's data ends. The end of plan month will always be the last month of the fiscal year.
→ Helpful Hint: When you extend the End of Plan out by a year, a new section for version Extension Options will appear. Be sure to scroll all the way to the bottom of your screen to see these.
- Start of Plan: This is where the budget or forecast data for this version begins. Time periods prior to Start of Plan will display actual data if they have been marked as completed in the Actuals version.
- Lock leading months through: If this is left blank, the version will not be locked except as marked in the Access Control section. You can use the drop-down menu to lock all months from the start of plan through the selected month, or to lock all months from the start of the version through the month set as the "Completed values through" month in the actuals version.
→ Related Topic: What does the Lock Leading Months feature do?
- Default - The default planning version is the version that is selected by default when users log in to their model. There is only one default version for each company's model.
5. Choose which data should be copied into the new version in the New Version Options section.
- Start as a copy of version: Set this field to the version you want to copy.
- Copy all data: When checked, causes the newly created version to get a copy of all numbers and formulas in standard accounts, cube accounts, assumptions, and exchange rates from the source version.
→ Helpful Hint: This option must be chosen if you would like to utilize the version extension options. If Copy all data is not checked, any new planning years will be blank by default since we are not copying any data from the source version.
- Copy shared formulas and rules: When checked, the newly created version will get a copy all formulas from the Formulas tab and rule scopes from rule administration pages such as the Allocation Rules page.
- Copy splits in GL and custom accounts - When checked, causes the newly created version to get a copy of all splits in GL and Custom Accounts from the source version. These splits retain all dimensions, but their numeric values (any values on the rows which correspond to months) are copied only over if the "Copy all data" checkbox above is checked.
- Copy modeled rows - When checked, causes the newly created version to get a copy of all modeled rows from the source version. These rows retain all dimensions, but their initial-balance and timespan values (any values on the rows which correspond to months) are copied only over if the "Copy all data" checkbox above is checked.
- Copy cell, sheet, and workflow notes - When checked, causes the newly created version to get a copy of all cell, sheet, and workflow notes from the source version, along with their information about who last updated them and when. If not checked, the new version starts with no cell, sheet, or workflow notes at all.
- Add as report parameter choice - When checked, causes the newly created version to be included in any existing report version parameters which include the source version.
6. Specify how the new planning years in the version should be populated in the Extension Options section.
When you create a new version and extend the End of Plan year outwards, you will be presented with a few different version extension options as outlined below:
- Copy Final Year Forward (Plan data only): This option copies the data from the final year.
→ Helpful Hint: This is the default choice. If you would like new years to start blank, be sure to scroll down to end of the page and set the Extension Options to New Years Start Blank instead.
- Copy Final Month Forward (Plan data only): This option copies the data from the final month.
- New Years Start Blank: The new planning years will begin blank in the version. Let's say that you are creating a new version for FY2014 Budget. You are using FY2013 Budget as the basis for the new version. Accounts in FY2014 will be blank UNLESS the account contains a formula that is stored on the Formulas tab. All formulas on the Formulas tab are automatically copied to the new version.
→ Helpful Hint: You will receive this option for two types of accounts: Assumptions and Lookup Tables and All Other Accounts. If you choose to start new years blank for Assumptions and Lookup Tables, you need to make sure the values are populated in the appropriate time periods (on the Assumptions tab and/or the modeled sheet builder).
7. Save the new version.
Preparing for a new budget cycle? See Webinar: Getting Ready for Your Next Budget Cycle for tips and tricks to streamline the process.