Buget Spreadsheet – Nowadays, no company can dispense with activity reports and budget worksheets, the latter being particularly important because they are directly involved in your company’s expenses. For SMEs with revenues of up to $15 million per year, the spreadsheet is even more crucial given the number of competitors, the ongoing need to reduce costs to improve cash flow and the need to have alternatives available when you need to make strategic decisions.
With a well-structured budget spreadsheet, you will find everything a manager is looking for : control over your procedures and a clear view of unnecessary expenses. In today’s article, we give you some tips on budget worksheets and how to develop them for your company.
What should a budget worksheet contain ?
There are two simple ways to develop a spreadsheet with Excel or Google Sheets (located on Google Drive). You can organize your data quickly and easily. It is then essential to divide your sheet into periods, months or weeks so that you can make future comparisons on the increase or decrease of your expenses and revenues.
Then you should describe each expenditure in the selected period (labour, electricity, water, fuel, etc.). With a comparison of these expenses, set a goal and try to achieve it ; this spreadsheet will highlight the losses over a given period and you can take the necessary steps to correct or propose alternatives that will not affect productivity.
Control is the main reason for establishing a spreadsheet. If you control your budget, you will know how to manage your costs effectively and you will know when you need to increase investments, ensuring reliable financial analysis.
Another advantage of the budget worksheet is that it gives you more agility in financial analysis and answers to potential problems that may arise. You can better understand your situation and react appropriately.
Reminder : even though it is a cliché, the expression “time is money” is quite true.
Theory and practice
Everything that has been mentioned here is nothing more than planning for your company. Well-executed planning will ensure your company’s survival and expansion, regardless of market conditions.
What does it matter?
In the end, how important is a budget worksheet to your company ? At the beginning of this article, we mentioned the need to improve the cash flow, which means simply oiling the engine of the company (wow, that’s deep…). This will save your society during economic recessions and ensure that all commitments of your society will be honoured. With a budget spreadsheet, your company will have a healthy cash flow and will be able to cope with any situation.
It is essential that the budget worksheet be edited by a single person or a small team, so that the data will always be reliable. In addition, since it is a strategic tool, all officials with decision-making power should be aware of these data because nothing will happen without their green light, including concrete changes such as cost reductions.
Gallery of Buget Spreadsheet
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We know how important it is to have access to the right resources to achieve your financial goals. For your convenience, you can download these three different worksheets and appropriate them to better manage your debts, save and achieve your goals.
For effective debt management and financial planning, it is important that you identify short-and long-term goals for your family. Use our worksheets to highlight your financial priorities and give you the means to achieve them. We have also incorporated the S. M. A. R. T. plan, which is very useful in setting objectives, so that you can make sure that your objectives are precise, quantifiable, pragmatic, realistic and have reasonable deadlines.
One of the best ways to help achieve your financial goals is to have a clearly defined written budget. To develop your family budget, you can use our budget worksheet. With this handy and comprehensive tool, you will get a detailed breakdown of your budget, including your expenses and the total cost of what you have to pay. This would allow you to better determine your budget limits and what expenses it would be important to reduce in order to achieve your objectives.
Bi-weekly pay planner
Once your budget is set, you can now plan your expenses using our bi-weekly payroll planner to stay on track. You will be able to enter your expenses, such as credit cards and service invoices, according to their due date, so that they correspond with the arrival of your pay.
This will allow you to plan your monthly mandatory expenses payments throughout the month. Debt repayments, and even savings, could also be included, so that you know at all times how much is available for your personal expenses.
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