BUSINESS PLAN AND BUDGET TEMPLATE UPDATE
BUSINESS PLAN AND BUDGET TEMPLATE FREE

Only spending half of your income on needs means you’re not living paycheck to paycheck. The “50/30/20 rule” encourages you to only spend half of your monthly income on necessary expenses. Most budgeting templates are a zero-sum budget where you assign a budget category for each dollar you earn.

BUSINESS PLAN AND BUDGET TEMPLATE FREE

You can modify the income and expense categories to fit your personal spending plan.Ĭheck out our Free Budget and Financial Planning Printables as well.

Expenses – Groceries, giving, “His” and “Her” spending, vehicle and gas, etc.

Housing expenses – Mortgage/rent, utilities, internet, insurance, etc.

Income – You and your spouse’s (if applicable) monthly salary.

The Starter Budget takes a monthly look at these categories: You can open the Starter Budget in Microsoft Excel or Google Sheets. Using Well Kept Wallet’s own Starter Budget is free and saves you time. The digital alternative is manually logging each transaction into your spreadsheet.īuilding your own template can be effective, but it’s easy to overlook certain expenses.

The simplest budget is writing your income and expenses on a piece of paper. These complex budgeting templates are “too smart.”

BUSINESS PLAN AND BUDGET TEMPLATE UPDATE

Drafting Your Budget at entrepreneur.You may only need a basic budget template that lets you quickly compare your income and monthly expenses.Īdvanced spreadsheets may require too much effort to update or can be confusing to navigate.

Small Business Budgeting Tips and Techniques at.

You would typically look at your Net Income to determine whether you will be able to expand your business, make large asset purchases, etc. However, this budget spreadsheet is mainly for comparing your operating income and expenses to make sure that in your normal business activities you are earning more than you are spending. One of the reasons for budgeting is of course to help you determine whether you will be able to afford upgrades, new construction, asset purchases, etc. If you have any taxable expenses make sure to subtract those values from the Net Income Before Taxes before estimating your income tax budget. This helps you make a simple estimate of the income taxes, assuming all the Expenses are tax deductible. Income TaxesĪ separate section under business expenses calculates the Net Income Before Taxes by subtracting the Total Expenses from Total Income. If you want to perform a more detailed analysis for multiple products, you can insert additional rows and separate the sales and costs according to product, or you can use the bonus spreadsheet that is designed for performing a detailed analysis for multiple products. The Goods spreadsheet is set up initially to record total net sales for each quarter.

A careful study of these costs can help you determine pricing for your products, which products are more profitable, etc. These costs are usually compared to the total sales. The costs associated with producing and purchasing goods are variable costs that increase or decrease with the volume of production and sales, such as wages for direct labor required to produce the goods, packaging, inventory purchases, shipping, and commissions. In other words, a red value means you ought to take a closer look at it. Conditional formatting is used to highlight the Difference red if income is less than the budget amount or if business expenses are more than the budget.

The Difference is calculated as Actual - Budget. If you add or move categories around, make sure to double-check the calculations, especially the SUM() formulas that calculate the totals and subtotals, to make sure that the right cells are summed. However, here are some things you should know and keep in mind as you use these templates: Double-Check the Formulas These business budget templates are pretty simple to modify and customize.

Business plan and budget template