When it comes to budgeting and forecasting it is important to be objective and realistic. Below, you can download an excel spread sheet that we created to help you with this.
This is how I would suggest using it and filling it out.
- Fill out the “Business needs” page by determining your peak meal periods, breaks and when employees are needed.
- Fill in the date, salaries, names and positions.
- Fill in in your projected sales for each day. You can obtain this information by looking at a few different things:
- The sales from the previous year.
- An average of the sales for the last 3 weeks (for example, if determining the sales for Tuesday, look at the last 3 Tuesdays).
- Fill in the hours that each employee is scheduled to work, noting the money that you have to spend to hit your labor goals based on your forecast sales.
The yellow areas on the “Financial Schedule” are meant to be updated each week to help you schedule employees and calculate your labor accordingly to your sales. This information is appropriate for management to know, but not for all employees. That’s why there is the “Posting Schedule.”
The schedule you fill in on the “Financial Schedule” will automatically transfer over to the “Posting Schedule” so that you post the schedule without including the sensitive information.