As climate and land use increase the variability of many ecosystems, forecasts of ecological variables are needed to inform management and use of ecosystem services. In particular, forecasts of phytoplankton would be especially useful for drinking water management, as phytoplankton populations are exhibiting greater fluctuations due to human activities. While phytoplankton forecasts are increasing in number, many questions remain regarding the optimal model time step (the temporal frequency of the forecast model output), time horizon (the length of time into the future a prediction is made) for maximizing forecast performance, as well as what factors contribute to uncertainty in forecasts and their scalability among sites. To answer these questions, we developed near‐term, iterative forecasts of phytoplankton 1–14 days into the future using forecast models with three different time steps (daily, weekly, fortnightly), that included a full uncertainty partitioning analysis at two drinking water reservoirs. We found that forecast accuracy varies with model time step and forecast horizon, and that forecast models can outperform null estimates under most conditions. Weekly and fortnightly forecasts consistently outperformed daily forecasts at 7‐day and 14‐day horizons, a trend that increased up to the 14‐day forecast horizon. Importantly, our work suggests that forecast accuracy can be increased by matching the forecast model time step to the forecast horizon for which predictions are needed. We found that model process uncertainty was the primary source of uncertainty in our phytoplankton forecasts over the forecast period, but parameter uncertainty increased during phytoplankton blooms and when scaling the forecast model to a new site. Overall, our scalability analysis shows promising results that simple models can be transferred to produce forecasts at additional sites. Altogether, our study advances our understanding of how forecast model time step and forecast horizon influence the forecastability of phytoplankton dynamics in aquatic systems and adds to the growing body of work regarding the predictability of ecological systems broadly.