Weekly Budget Tool
The Weekly Budget Tool allows you to set your projected sales and labor targets so you can efficiently schedule your staff. This can be accessed at the bottom of the Schedule page.
By clicking the highlighted field below, you can enter your Projected Sales and corresponding labor targets for each day.
Click here to find your POS and activate one of our available POS integrations.
When using the Actual Sales POS integration, your Projected Sales will become smarter with more data over time, taking into account seasonality. Our sales forecasting system is comprised of separate algorithms, which forecast short-term, mid-term, and long-term trends respectively.
If you wish to revert any manual changes you made to your Projected Sales, you can go back to the automatically calculated projections (through the POS integration) by clicking the re-sync icon on the far left (shown below).
As you start scheduling your staff, the budget tool calculates your labor costs. It updates in real-time to show you how much of your sales are allotted to labor.
To help guide you, the Labor Targets will appear in either red or green.
You will be able to enter in, for each day of the week, your Labor Target goal.
Click the 'Target' dropdown to change between the following Labor Target options:
- Labor Percentage - Sales vs. estimated labor costs
- SPLH (Sales Per Labor Hour) - The total dollar of sales per employee hour worked
- Hours - Total scheduled labor hours for this Location
When copying over an existing schedule into another week, you can also select to copy over the Labor Targets from that specific week ( only if using Labor Percentage Targets).
With select POS integrations, you can also allocate your Actual Sales and set your Labor Targets by Department. Read more about Department Based Budgeting here.
Actuals for Sales and Labor
You will be able to review your Labor Target progress for previous days by enabling the 'Actuals' function. Enable this setting on the Weekly Budgeting Tool to compare your Projected Sales vs Actual Sales or to compare your Projected (scheduled) Labor costs and Actual Labor costs.
If you are using 7punches or have an active POS labor integration, your Actual Labor costs will populate automatically in the Weekly Budget Tool.
To enable the 'Actuals' feature, click on the 'Compare to actuals' toggle on the far left.
You can view what days your Actual Labor costs were equal to or below your Labor Target goals in green. If they were higher than your Labor Targets, they will be shown in red. Actual Sales will also be shown in green or red when being compared to your Projected Sales.
To see your current day labor costs in real-time, you can view this data on the Sales vs Labor Dashboard or if you visit the Mobile Manager Dashboard on the 7shifts app.
If you do not have 7punches or an Actual Labor integration enabled, the labor costs will be based on the employees' scheduled hours only. Your Weekly Budget Tool and Targets will be marked with an asterisk (*) letting you know that these calculations are only estimates and not based on the employees' actual worked hours.