Easily Insert Option Field from the 12 Month Sales Forecast

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How to Insert Option Field from the 12 Month Sales Forecast

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In this tech tutorial by Richard Ross from accesslearningzone.com, viewers learn how to chart sales data for the past year using Microsoft Access and Excel. The video addresses a question from Tim, a platinum member, who seeks guidance on creating a sales chart in Access to visualize the past year’s sales and how to forecast next month’s sales. Richard confirms that while creating a sales chart in Access is achievable, Excel is more effective for forecasting. He plans to demonstrate the sales chart in an Access form and provide an additional method for forecasting next month's sales in the extended cut of the video.

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What is the correct formula to get the revenue forecast?

Forecasted revenue is calculated by taking the average selling price (ASP) for future periods and multiplying that by the number of expected units sold.

How do I forecast monthly sales in Excel?

On the Data tab, in the Forecast group, click Forecast Sheet. In the Create Forecast Worksheet box, pick either a line chart or a column chart for the visual representation of the forecast. In the Forecast End box, pick an end date, and then click Create.

What is a 5 year sales forecast?

A 5-year forecast is an educated projection of your companys financial performance over the next five years. It specifically details projected revenues, costs, expenses, cash flows (including any projected capital raises), and owner equity, as well as projecting sales growth and margins.

What is the formula for sales forecasting in Excel?

Excels Forecast function is available by clicking the Function button in the Excel toolbar, or by typing =FUNCTION(x,knownys,knownxs) in a cell. In a sales forecast, the y data are sales from previous time periods and the x data are a factor influencing sales in each time period.

What is monthly sales forecast?

A sales forecast is an essential tool for managing a business of any size. It is a month-by-month forecast of the level of sales you expect to achieve. Most businesses draw up a sales forecast once a year. Armed with this information you can rapidly identify problems and opportunities - and do something about them.

What is the formula for monthly sales forecast?

The simplest formula to use is: sales forecast = the previous periods sales + estimated growth (or shrinkage) in sales for the next period.

How to do a 12 month sales forecast?

Calculate your sales forecast Multiply your average monthly sales rate by the number of months left in the year to calculate your projected sales revenue for the rest of the year. Add your total sales revenue so far to your projected sales revenue for the rest of the year to calculate your annual sales forecast.

How do I forecast yearly sales in Excel?

On the Data tab, in the Forecast group, click Forecast Sheet. In the Create Forecast Worksheet box, pick either a line chart or a column chart for the visual representation of the forecast. In the Forecast End box, pick an end date, and then click Create.

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Insert Option Field from the 12 Month Sales Forecast