WFM UK: Data Updates: 4.1 Financial Metrics for Rotas – Fourth & HotSchedules Customer Success Portal

Overview

There are a number of Financial Metrics that can be set in Fourth's HR & Payroll and Scheduling Solutions. This article discussed how to update Revenue Budgets and Wage Targets. As well as inputting revenue budgets and wage targets manually (see Knowledge Articles WFM - Inputting Budgets and WFM - Creating Wage Targets) in HR & Payroll Fourth can carry out a bulk upload of this data.

This article is split into sections:

Different Ways of Budgeting
Submitting Templates to Fourth
Templates

Different Ways of Budgeting

To ensure that the correct budget templates are used, it is necessary to determine whether locations are set to budget by Location or Section.

Section: This implies that budgets or sales entered are broken down via Revenue Streams. For example, Food & Beverage, Rooms etc
Location: This implies that all revenue streams within that location will be counted together and not individually broken down
Go to Rotas > Administration > Configure Location > select location > check under Organisation of Divisions

If budgeting by Section, the Configure Location screen will look like this (Fig.1) or (Fig.1.1) if you are on the legacy UI

Fig.1 - Configure Location in Rotas when budgeting by Section

Fig.1.1 - Configure Location in Rotas when budgeting by Section

If budgeting by Location, it will display this (Fig.2) or (Fig.2.1) if you are on the legacy UI

Fig.2 - Configure Location in Rotas when budgeting by Location

Fig.2.1- Configure Location in Rotas when budgeting by Location

Budgeting by Section Templates

If a location budgets by Section, the following templates will need to be sent to Fourth:

If weekly splits vary throughout the year:

Daily % Splits Template
Weekly Sales Budgets by Section Template
Wage Target % Template

Or, if weekly splits do not vary (remain constant as set in the system):

Daily Sales Budgets by Section Template
Wage Target % Template

Wage Target %: All Divisions with an applicable wage target percentage must be included in the template. If a Division has no wage target required, it can be excluded from the template. Wage Target settings in the system should be updated manually with zeros if this Division needs to have no wage target associated.

Budgeting by Location Templates

If a location uses Budgets by Location, the following spreadsheets will need to be sent to Fourth:

Daily % Splits Template
Weekly Sales Budgets by Location Template
Wage Target % Template

Daily Sales Budgets by Location Template
Wage Target % Template

Wage Target %: The same applies as per Budgets by Section, with the following additional options:

When budgeting by location, there are two options for Wage Target % templates. There is a Global Setting, Use wage target for location in Rota. When this is set to Yes, a single Wage Target % can be loaded for any Division and it will show for the Location. It won’t be possible to drill down by Division on this. If the setting is set to No, Wage Target % per Divisions can be loaded
The setting Use wage target for location in Rota is located at Rotas > Administration > Global Settings

Submitting Templates to Fourth

Download templates as required from the section below
Complete the templates and send them via email to your Fourth Customer Success Manager (CSM)
Fourth checks and uploads the data
Fourth sends confirmation of the successful load

Each budget template spreadsheet contains guides and examples to help with their completion.

Please note: Fourth will charge for 2 hours of work per template loaded. Further charges may be incurred if the templates are amended or combined in any way, as this will lead to additional work needing to be carried out.

Fourth will check that mandatory fields are populated and the formatting is correct before uploading. The accuracy of the data itself is the responsibility of the customer.

Templates: