Average Checks (Forecasting by Average Spend)

Learn how to create Session/Function Types and set your Forecasted Average per Session/ Function Type.

To assist with forecasting we have created the, Cost Centre Forecast Report. This report allows you to forecast the average spend on your Session/ Function type for a 31 day period. In addition we have enabled this report to allow you to report on attendee numbers as well so you can see covers per Session/Function type. 

To use this new feature, you’ll need to set up your session/ function types and set your forecast estimates for each of them.

Setting up Session/Function Types:

We have created the ability to add custom Session/ Function Types when building your sessions in the system. These session/function types will pull through and reflect on your Sessions/Functions Report and also is the basis for your forecasted averages. We have pre-loaded Session Types to get you started however these can be edited or deleted should you wish.

To update navigate to: Global Settings > Venue > Session/Function Types.

Note: Remember to edit your Event Templates to add in your Session/Function types

Setting Forecasted Averages per Session/Function Type

Our new reports will allow you to forecast future Session/Function spends using the forecasted average spends per person, per cost centre that you preload into the system.

To add your default spends, please navigate to: Venue Setup > Edit Session/Function types > Enter average spend per attendee, per cost centre> Save Note: Averages entered are exclusive of tax. 

Once you have completed the above you will want to update your existing bookings and add session/function types to your booking. 

Once completed you can navigate to: Reports & Budgets > Report, to generate our Cost Centre Forecast Report.