The MK14 Report is a Pace Report used for forecasting throughout your property. You will first need to make sure that you are on the correct tab for Banquet or Catering Sales. The banquet sales tab is listed as "B" at the bottom of the spreadsheet:
The catering sales tab is listed as "C" at the bottom of the spreadsheet:
On the left side of the report, you will notice that information is being supplied for the current year in monthly, quarterly and total increments, and that this information is supplied for the past year as well:
Under the column labeled "Definites," you will find information about revenue that is already on the books. This shows your current pace, and lets you compare it to the pace from last year. An example is below (Note: Several columns were collapsed in order to show the "Definites" column next to the corresponding time periods):
As you can see above, at this property, the annual current pace for total banquet rooms is 25,817 compared to 25,658 from the previous year. The current pace for second quarter banquets revenue is $1,196,709 compared to $1,285,679 from the previous year.
The next set of columns relevant to your forecasting is "Reach to Forecast." This shows how many rooms and/or total revenue must be picked up in order to reach your forecast, in comparison to what was needed a year before. An example is below:
In the above example, 344 banquet rooms must be booked to hit the second quarter forecast this year. At this point in time last year, 200 rooms were needed to be booked to hit the that year's forecast.
As you look at your pace report, locate any major year to year differences and determine if their are factors that are not being accounted for in your forecast. You can also use the data from the "Reach to Forecast" to help determine the accuracy of your forecast. Does it seem unrealistic that you will pick up your reach to forecast? If so, you may need to adjust your forecast.