Taking the time to sit down and compile a budget worksheet is useful because it allows you to figure out how much money you have, how much you’ll spend in the coming months, and how much income you need to meet your financial goals.
Completing a budget sheet is critical, not only for personal finance but for small business owners as well.
It may be even truer if your business is well-established, with a cash flow pattern that is quite similar year over year.
However, even if this is the case for your business, consider at least drafting a basic budget, like the one on this worksheet.
The expenses of one home or business may vary significantly from that of another, so it’s essential that you come up with a budget spreadsheet that suits your needs. We’ve provided you with an outline of a few of the benefits that come from crafting a monthly budget.
Then we included a few budget planner tips to help you start planning. Whether you need a budget tracker for your small business or to use as a personal money manager tool, you’ll likely find our free budget template worthwhile.
Imagine going into a month having no idea what you are going to spend or how much money you are going to make.
Maybe you’ll set a new record for sales, or maybe you’re going to spend half your capital on new equipment, who knows?
Creating a budget for your business helps focus efforts and financial resources to your company's most important goals.
You'll concentrate on sales targets when creating the revenue portion of your budget and think through each cost for the expenses, whether it will vary from last year, if you can cut the expense this year, and many other questions.