Sales forecasting is the process of estimating future revenue by predicting the amount of product or services a sales unit (which can be an individual salesperson, a sales team, or a company) will sell in the next week, month, quarter, or year.
Navigation
Setup > Sales > Sales Preference >“ Forecast” subtab
• Projected Total
It is the estimate /opportunity of a lead . NetSuite uses that probability to calculate a projected total.
• Forecast Type
- Worst Case : if an estimate is in worst category , it appears in each forecast.
- Most Likely :if an estimate is in worst category, it appears in Most Likely and
Upside forecasts
- Upside : if an estimate is in worst category ,it appears only in Upside Forecasts
• Weighted Total
It is the defined as the amount of each opportunity / estimate multiplied by probability
How will this affect Sales Forecasting?
NetSuite includes an opportunity in the sales forecast and pipeline if it meets the following requirements:
▶ a) If opportunity has not been converted to a sales order, cash sale, or invoice.
▶ b) The opportunity does not have an associated estimate marked to be included in the forecast.
▶ c) The opportunity’s expected close date is within the reporting period.
▶ d) The estimate’s probability of close exceeds the minimum forecast probability set .