Small Business Budget Template Free – Running a successful small business is hard. It is almost impossible to run a successful small business without a budget.
Without easy access to your financial information, many decisions are more difficult than they should be. For example: How could you make an informed decision about whether it is a good time to grow your business, buy new inventory or assets, or give yourself a promotion?
Small Business Budget Template Free
A budget is a tool that allows you to measure your ideal financial numbers against your actual figures. Effective budgeting requires regular calibration of the actual business environment against the hypothetical environment.
Free Printable Budget Templates: Manage Your Money In 2022
If it seems daunting or time-consuming, fear not. There are online resources that simplify the process. In fact, there are a number of business budget templates that you can download right now. And just to keep them within your budget (see what we did there?) they’re free!
We’re going to walk you through seven of our favorite small business budget template tools right now, but first let’s take a look at what you need to know about creating a business budget.
Creating a business budget is an extremely important step towards ensuring that your business not only stays on track financially, but that it uses the money available to you in the most strategic and maximized way possible. Whether you’re a new business or a more established business, adding a business budget to your business plan is a great way to stay organized and plan how best to use your budget to your advantage. If you are running a new business, you will want to budget for your ongoing costs and the costs you will need to get your business up and running.
How you create your business budget will largely depend on the type of budgeting you do. Once you’ve chosen your preferred method, you can use one of the template tools we’ll discuss to help you create your budget.
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Main budget. If you have a master budget, your budget will involve taking the information from other smaller budgets within your business (think marketing versus labour) and condensing them into one master budget. This type of budget is well suited for large companies with multiple departments, each with their own budgets. A master budget gives a more thorough view of your expenses.
Operating budget. This type of business budget is very popular and estimates income and expenditure over a specific period of time. This enables businesses to compare their actual results with their operating budget.
Financial budget. When you create a financial budget, you only look at your income and expenses and include any assets, liabilities and stockholder’s equity in your budget. You will use a balance sheet to present this information and get a clear picture of the overall health of your business. This type of budget is often used when a business is seeking financing, an initial public offering, or a merger.
Budget money. This type of budget estimates how much money will go through a business during a specific period of time (such as a quarter). A cash budget provides insight into how an organization can meet its immediate financial obligations or whether they will need financial support, such as a line of credit, to cover any upcoming expenses.
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Labor Budget. If you have employees, you may want to consider creating a labor budget that will help you determine how many employees you will need to hire to reach the desired production level and how much it will cost to do so.
Capital budget. A capital budget helps businesses plan for major asset purchases. For example, buying a new warehouse or expensive machinery. A capital budget will account for the cost of the asset you intend to buy and will look at the expected payback period and return on investment.
Strategic plan budget. By incorporating financial information, a strategic plan budget can help create a practical road map for how your business plans to grow. If you have long-term goals, this budget can help you achieve them in a realistic – and financially honest – way.
Static budget. If your sales and business expenses are fairly consistent, you may need a fixed budget to keep things on track financially. You will not change this budget throughout the year and it is a great way to identify variances between budget line items and actual line items. A fixed budget can also be useful in evaluating sales performance.
Free Excel Spreadsheet For Business Expenses In 2022
The download available from Capterra includes monthly and annual analysis that can be used on an Excel spreadsheet. “Imagine going into a month with no idea what you were going to spend or how much money you were going to make,” the website says. “If you’re interested in having money in your bank account at the end of the month, you might want to start thinking ahead.” The goal of a budget, they say, is to “have a fixed point to track your progress against.”
Again, you don’t have to look far to find a range of budget templates. The Google Template Gallery provides a variety of Google Sheets business budget templates that are easy to use and visually appealing. The tables and graphs in the Summary tab provide a visual overview of your income and expenses, letting you quickly know where you stand financially. Not sure where to start? Check out this well-designed annual budget template.
Do you use Microsoft Office? If so, you’re probably sitting on a database of useful budget templates right now without even realizing it. Microsoft Office has a wide range of budgets for every need. They include charts and graphs of your variances from month to month.
This small business resource includes budget templates specifically designed for financial projections, startup expenses, profit and loss statements, and cash flow statements, among many others. In addition to budgeting, the site has templates for startup planning, marketing and sales, even business management.
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It’s Your Money is a one-stop home for all things financial, with tons of useful and educational resources and tips that business owners can use, no matter what your level of financial understanding. Here you will find many downloadable Excel business budget templates to help with spending plans, “planning your future expenses, amortizing different types of loans, and tracking your debt loads.”
As the website warns, these templates aren’t fancy, but they are flexible and easy to adapt for your situation. For example, find a cash flow budget template spreadsheet here. Or, find the full list of IYM templates here.
This website provides separate sheets for service and goods based businesses to create their own budgets. Income and expenses are further analyzed so you can see where money is coming in and where it is going. Find and download the free budget templates here.
Another site that relies on business budget Excel template spreadsheets, Vertex includes 42 pairs of sample budgets aimed at businesses that offer services or products. There is a worksheet that breaks down, month by month, between sales and expenses. And for anyone thinking of launching a new business, the site offers a free Business Start-Up Costs template that can be downloaded.
All The Best Business Budget Templates
Find out which of these small business budgets are helpful for setting goals for your venture. For any of these templates to work, however, you need to be on top of your daily spending as part of your regular routine. Once you are closer to actually getting your cash flow, you will be able to grow your business in a sustainable way for years to come.
After you’ve created your budget using a business budget template, you may need help bridging the gap to hire staff or purchase expensive equipment. If that is the case, you may want to consider your financing options. The line of business credit options can step in and help when your business is experiencing slow sales, late invoice payments, or unplanned emergency expenses. We have compiled the most useful free budget templates in Microsoft Excel and Google Sheets formats, and also provided useful details for filling out these templates.
Included on this page, you will find many useful small business budget templates, including a simple small business budget template and a business budget template. Also, find out why you need a small business budget template, and how to create a small business budget template.
Use this small business budget template to track and manage your business finances. This easy-to-fill template includes a sheet for month-to-month income, another sheet for calculating monthly expenses, and a third sheet for recording cash flow balances that include credit and debit cash flow balances. Easily track and view monthly income and expenses to calculate total profit. The completed budget will help you assess how close you are to achieving your financial goals.
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This detailed, all-in-one budgeting template is perfect for small business owners who want to keep track of their company’s financial health. The template includes columns for labor hours, rate, materials, unit costs, and budgeted and actual figures for over/under figures. Use the template to easily compare budgeted amounts with actual expenses to get a better picture of them
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