Download our free Excel Sales Forecast template with full instructions and an example.
What is a Sales Forecast Template
A sales forecast template is a powerful tool that businesses can use to plan for the future. This template lets businesses track sales data over time, identify patterns, and predict future sales.
By analysing sales data, businesses can make informed decisions about how to allocate resources and where to focus their efforts. A sales forecast template can also help companies to track progress toward sales goals and objectives. By understanding sales trends, companies can better prepare for the future and are more likely to achieve their goals.
Please read our full article on how to create a sales forecast.
Disclosure: This content may contain affiliate links, which means if you click on them, I may get a commission (without any extra cost to you).
Why use an Excel Spreadsheet for a Sales Forecast Template
If you’re in sales, you’ve likely been asked to create a sales forecast template at some point. Whether you’re a small business owner or a sales manager, sales forecasting is essential to effective decision-making. And while there are many ways to create a sales forecast, one of the most popular methods is using an Excel spreadsheet.
Excel is a popular choice for sales forecasting for several reasons. First, it’s a versatile tool you can customise to fit your needs. Secondly, it’s relatively easy to use and understand, even for complex sales forecasts. Finally, perhaps most importantly, it’s widely available and compatible with most computers.
Whether you’re just starting sales forecasting or looking for a more efficient approach, an Excel spreadsheet is a great option. With a bit of time and effort, you can create a sales forecast template to help you make better decisions and increase your sales.
How to create a sales forecast template in Excel
Although you can create your own sales forecast template, we have created one for you to download and use for free. Many other templates are available online, but the best one depends on your business requirements.
Here are our top tips to help you choose the best template for your sales forecast:
- Use a sales forecast template that is easy to understand and use.
- Make sure the sales forecast template is compatible with your computer.
- Customise the sales forecast template to fit your specific needs.
- Use a sales forecast template that is easy to update.
- Speak to your sales team; they might be able to recommend one.
- Look at alternative software which might fit in better for your needs.
Tips for Using our Free Sales Forecast Template
To produce an accurate sales forecast, you will need a few things: historical data, product information and market research.
If you don’t have sales data for your business, you can still create a sales forecast using industry averages or by estimating how many sales you think you can make. However, remember that your forecast may be less accurate without sales data.
Look at Sales Historical Data
When creating a sales forecast, it’s essential to look at historical sales data. It will give you an idea of sales patterns and help you predict future sales. You can find historical data by looking at your accounting software to see the revenue over the past year and units sold.
Look at Seasonal Trends
When you sell seasonal products, consider this when forecasting sales. For example, if you sell Christmas trees, you will make most of your sales in December. By looking at sales data from previous years, you can estimate how much sales will increase in the lead-up to Christmas.
Having Discounts or Sales
If you’re planning a sale or offering discounts, consider this when forecasting sales. For example, if you’re planning a Black Friday sale, you will need to predict a reduction in the sales price and an increase in units sold.
Talk to your Sales Reps
To gauge future sales revenue, it is always worth spending time talking with the sales team to see what’s in the pipeline and who they’re talking to. It might also be a good time to review the sales process to see if it can be streamlined.
2 Sales Forecasting Templates
We have created two sales forecasting templates for free. The first is based on product sales and includes entering actual figures to compare the differences.
The second is a simple template for adding customers and can also be used as a retail sales forecast template.
Customer Sales Forecasting Template
To use this sales forecasting template, enter your customer names in the left column and their monthly sales figures in the right column. The template will automatically calculate the total sales forecasts for each customer and each month.
This template is perfect for small businesses that want to track monthly sales.
Change the customer column to the information that fits with your business. Here is an example:
As you can see, there are rows set up for retail sales, recurring sales and a list of customers.
Product Sales Forecasting Template Instructions
Small business owners can use the sales forecasting template to help predict sales for the upcoming year. The template is free to download, easy to use, and lets business owners track sales, reorders, and new orders.
Each template supports ten products or services. If you need more, copy and paste the sheets. Once you’re done, add the two total pages together.
List your Products or Services
The sales forecast template includes up to 10 services, products or a mixture.
On the setup page, list the products you want to include and a sales price. This data then appears on the other sheets, so you don’t have to enter it multiple times.
Research Past Customers
Start by looking at past customers’ historical data and estimating future sales. It is crucial if you have customers that regularly place orders. Enter any units sold that you think they might purchase again.
If you expect to change the selling price during the year, such as due to a price increase or a discount, change the price in the month it changes.
New Sales
The next stage is to forecast sales for any new clients. To estimate these figures, look at the previous year’s history and see if there is a pattern. Enter the quantities you expect to achieve.
Again, change prices throughout the year to ensure accurate projected sales revenue.
Total Sales Revenue
The total sales revenue page shows the monthly sales forecast by product or service for new and reorders.
Once the sales forecast data is entered, you can start entering the actual monthly sales revenue. Doing this shows you the differences between sales forecasting and the actual income.
Comparing the figures helps you spot patterns. For example, sales might be higher in the summer months because people buy ice cream, or in the winter because people buy Christmas gifts.
Review your sales forecast monthly and enter the actual sales revenue figures. It will help you track sales and make changes to the quantities or pricing of the products or services if necessary.
Product Sales Forecasting Template Example
Below is an example of the sales forecasting template for a small business that sells prints and picture frames.
The above image shows a list of the products it sells and their sales prices. This information is then available on the other worksheets.
The image above shows the monthly sales volume for each product and the totals. The reorders page shows the same information.
The image below shows the totals page with actual figures entered for the year. Although the total of the new business and existing business only has a variance of 52.00, the reorders were much lower than predicted. It is, therefore, worth looking at why there is a difference.
FAQs about the Free Sales Forecasting Template
I have more than 10 products; can I still use it?
Yes, although the template lists 10 products, you can copy and paste the sheets or insert cells. If you insert cells, ensure the calculations are copied as well.
I don’t have Excel. Can I still use it?
Yes, most of our templates work with Google Sheets and other available spreadsheet software.
Can I change the forecast during the year?
Yes, it is important to review a sales forecast regularly and make adjustments for any sales growth or lost revenue.
Sales Forecasting Template Licence Agreement
By downloading our free sales forecast templates, you agree to our licence agreement, allowing you to use the templates for your own personal or business use only. You may not share, distribute, or resell the templates to anyone else in any way.
Xero Accounting Software
Spend less time entering transactions into spreadsheets. Xero connects to your bank, helps you manage invoices and expenses, and supports Making Tax Digital.
- Send invoices
- Connect your bank
- Capture receipts
- MTD ready
Other Useful Templates
Budget template – Set a budget for the year, enter actual figures and compare the two.
Cash Book Template – Track Income and expenses.
Sales Forecasting Templates Conclusion
Small businesses can benefit significantly from using a sales forecast template as it predicts future revenue and allows them to track their sales figures and make changes where necessary.
The free sales projections template offered on this website is easy to use and can be customised to include your products or services. By entering actual sales revenue each month, you can compare your projected sales with reality and adjust your sales forecasting methods as needed.
Disclaimer: This template is provided for general bookkeeping purposes and is not a substitute for professional tax advice. Check that it suits your circumstances and review current HMRC requirements before submitting information.
