I wonder if somebody could help me fix my revenue budgeting and labour budgeting. I am currently doing a sales forecast and labour forecast by employing the average method and taking the variance into consideration between years. I would like to know how this could be done in a better way, even though the figures i obtained have been realistic, but just want to make sure the figures are quite real.
Raj, all budgeting and forecasting is guess work. Basing on past performance and averaging, if your business is not changing radically is probably the best you can do IMO.
