Easily Insert Option Field into the 12 Month Sales Forecast

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How to Insert Option Field into the 12 Month Sales Forecast

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In this tutorial by Access Learning Zone, instructor Richard Ross demonstrates how to chart sales data from the past year in Microsoft Access, focusing on monthly sales visualization using modern charts. He addresses a request from Tim, a platinum member, who wants to know how to integrate a sales chart into their database for quick reference to last year’s sales. While Ross explains that Access can display sales charts, he notes that forecasting future sales is more effectively done in Microsoft Excel. He also mentions that he will provide additional information on forecasting next month’s sales using Access in an extended cut of the video.

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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 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.

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 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 you write a sales forecast example?

How to create a sales forecast List out the goods and services you sell. Estimate how much of each you expect to sell. Define the unit price or dollar value of each good or service sold. Multiply the number sold by the price. Determine how much it will cost to produce and sell each good or service.

Where is the forecast option 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.

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.

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.

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Insert Option Field into the 12 Month Sales Forecast