Your MarginEdge Sales Forecast not only helps your team plan ahead, it also feeds directly into your budgets.
In order to get an accurate view of what your projected budget is for the period, you’ll want to make sure you’re taking steps to adjust your sales forecast for any atypical situations.
Here are some tips to make sure your forecast is as accurate as possible.
- Account for spikes or dips in sales
- Input ad hoc (and recurring) closures
- Filter by category type
- Bonus tip: Adding notes
Account for spikes or dips in sales
Is there a big concert happening nearby and you expect to see increased sales this weekend? Or is construction happening in front of your restaurant, likely leading to decreased foot traffic and therefore less sales?
Account for these events in your forecast by manually adjusting sales in your day forecast.
Here's how: Click on the day, click to "Edit Forecast" then adjust the sales as needed. Click "Save" when finished!
Input ad hoc (and recurring) closures
If you need to close your restaurant on a day you’re not typically closed (for weather, family matters, etc) you’ll want to mark that so there’s no forecast generated that day.
Here's how: Click on the day and then toggle the slider to "Closed" instead of "Open".
And if you’re closed certain days every week, you’ll want to update that in your settings.
Here's how: Click on "More Options" at the top and "Adjust Forecast Setup".
Knowing which days you’re operating will make the forecast even more accurate.
Filter by category type
If you have category budgets set up, you’ll want to make sure your forecast is set up correctly by categories as well.
Use the filter to view food, liquor, retail, and other category forecast, and make any necessary adjustments.
Bonus tip: Adding notes
Add notes when you adjust the forecast so everyone knows why there’s been a change. Plus, you’ll be able to refer back to it to know why the forecast was higher or lower than usual.
Here's how: Click on the day to open and click in the box to "Add a Note".