Free Small Business Budget Worksheet – A business budget is a reliable source of income and expenses. This includes everything you spend, from A/B test marketing campaigns to monthly office rent. Putting your numbers in order may sound daunting, but business budget templates make the process easy. Plus, you can choose from thousands of business budget templates. Here are seven budget templates to help you organize your finances. But first, learn how to budget a business. What is a business budget? A business budget is a spending plan that estimates the income and expenses of a business over a period of time (usually monthly, quarterly, or annually). Business budgets follow a set pattern. This template allows you to enter recurring or projected business expenses in addition to your estimated revenue. For example, let’s say your business is planning to redesign its website. Costs should be broken down into categories like software, content and design, and testing. Having a clear breakdown will help you estimate costs for each category and compare them to actual costs. Image Sources How to Create a Business Budget Creating a business budget is easy, but for large companies with multiple sources of revenue and expenses, the process can be more complicated. Here are the basic steps to creating a business budget, no matter the size of your business. 1. Find a template or create a spreadsheet. There are many free and paid budget templates online. You can start with an existing budget template. Here are some samples that may be helpful. You can also create spreadsheets with custom rows and columns based on your business. 2. Enter your earnings. Once you’ve created your template, start by listing all of your business’s income sources. Budgets allow you to plan for the future, so you also need to predict revenue streams based on previous months or years. For a new small business budget, estimate your company’s starting income based on market research. 3. Subtract fixed expenses in the period. Fixed costs are recurring expenses that occur monthly, quarterly, or annually. Examples include insurance, office rental, website hosting, and the Internet. 4. Consider variable costs. Variable costs change over time. Examples include utility bills, advertising expenses, office supplies, software, and new technology. You may have to continually pay variable costs, such as utility bills. If your estimated earnings are below average, you can change the amount spent on other expenses, such as advertising. 5. Take the time to plan your business budget. You may have an unexpected expense or want to save to grow your business. In any case, review your budget to include all costs, fixed costs, and variable costs. Once done, you can decide how much you can save. You should create multiple savings accounts. One should be used for emergencies. The other holds money that can be spent on the business to promote its growth. How to Manage Your Business Budget There are several key elements to healthy business budget management. Prepare a budget The whole process starts with preparing and planning a proper budget at the beginning of each month, quarter or year. You can also create multiple short-term and long-term budgets. This phase also sets a spending limit and creates a system of regular budget tracking. Budget monitoring Large companies can delegate budget monitoring to multiple supervisors. But keep an eye on your budget, even for a one-man gig. That means putting a time in your daily or weekly schedule to see your budget and track your actual income and expenses. Always compare actual numbers with estimates. Budget forecasting Tracking your budget regularly helps you stay on top of your business. Check back often to determine how you’re doing in terms of income and where your losses are. Find ways to minimize your spending and put more money into savings. Why a budget is important for your business A budget is important for your business. Without it, you can easily wallow in unexpected spending and expenses. Business budgets are useful for a number of activities. With Business Budgeting, you can keep track of your finances, save money to help grow your business in the future, pay bonuses, and prepare for unexpected expenses and emergencies. You can also review your budget and decide when to take the next leap for your business. For example, you might dream of a larger office building or the latest software, but want to make sure you have a steady net income before you buy. Best Free Business Budget Templates 1. Marketing Budget Template Image Source Knowing how to manage your marketing budget can be difficult, but with handy free templates like this pack of marketing budget templates , you can track everything from advertising costs to events and more. includes 8 different templates so you can create multiple budgets to help you decide how much money to invest in your marketing and planning. refundable investment. 2. Image Sources for Small Business Budget Templates For a small business, finding the time to budget can be difficult, but it’s vital to keeping your business afloat. healthy. Capterra offers budget templates for small businesses. Also, this template works with Excel. Start by entering your annual forecast. Then the spreadsheet projects your monthly budget. You can easily find your profits and losses as you can enter and compare your actual income and expenses. 3. Image Source for a Startup Budget Template What if you don’t have previous numbers on which to base your profit and expense estimates? This will help you keep track of all the expenses needed to start and run your business, estimate your first income, and decide where your money will come from.4. Many businesses, large and small, rely on Intuit services such as Quickbooks and TurboTax. If you don’t use the company’s paid financial services, you can still take advantage of Intuit’s free budget templates that work in Google Sheets or Excel. It has many spreadsheet tabs and easy tutorials. You enter your income on a specific tab and your expenses on another specific tab. You can also add tabs if needed. Then, like magic, the spreadsheet uses data from the income and expense tabs to summarize the information. This template can even determine your net savings and final balance. 5. Department Budget Tables Image Source Medium and large companies have many departments, each with different budgeting needs. All of these budgets are consolidated into one large company-wide budget sheet. There are department-specific templates to help teams track spending and plan growth. This free template from Template.net works in document or spreadsheet format. This budget template helps different departments keep track of income and expenses. 6. Image sources for project budget templates Every new project has a cost. This free Monday budget template will help your team estimate costs before embarking on a project. You can easily determine if you’re over budget mid-project, so you can make adjustments. This template is especially useful for small companies reporting budgets to clients or internal teams involved in complex projects. 7. Corporate budget template image source Want to keep track of every penny? Create a detailed budget with this template from TemplateLab. The cost list includes fixed costs, labor costs and variable costs. This business template is especially useful for small businesses that want to track their expenses in one comprehensive document. Creating a business budget to help your company grow Creating an initial business budget can be difficult, especially when you have multiple sources of revenue and expenses. Budget templates make it easy to get started. And once set up, these templates can be easily replicated. With little planning and regular monitoring, you can plan for the future of your business. Editor’s Note: This post was originally published in September 2021 and has been updated for completeness.
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Free Small Business Budget Worksheet
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