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I think the best way is to have a detailed forecast. For instance, revenue by project or customer. For expense, I like to show this by vendor or item. This seems to work well, because at least we can have an actual to forecast or budget comparison. And if there are material misses can having a good starting place to investigate.
I’d recommend doing this at the most important P&L line items first, see how that works, then explore other P&L categories. Also, having the most realistic forecast first is something I do, but then consider normalizing the forecast, either higher or lower, and lastly having an audit trail to show where we started and where we settled for the forecast is what I find works best in case there are any internal finance forecast questions.
Lastly, I think having the proper GL accounting system is key, and partnering with accounting teams can be helpful.