The former US President had said, “A budget is more than just a series of numbers on a page; it is an embodiment of our values.” And no company would want their ‘values’ to cause a problem at the end of the year. That is, annual budgets are made to determine the company’s income and expenses of that fiscal year. Annual Budget Templates help make these budgets.
10+ Annual Budget Templates
1. Annual Budget Template
The annual budget of a company determines the course of action the company should take for the next fiscal year to get more profits. If you want the same for your company, then you need to download this budget template in Word. The template has been designed to help you make professional annual budgets for your organization with ease. The template can be downloaded in other file formats too such as Excel, Numbers, and Pages.
2. Restaurant Annual Budget Template
If you are running a restaurant business, then you also need to make the annual budget for the company every year. And to help you with that task we are offering you this budget template in Excel. This template is the most beneficial tool to use to make the annual restaurant budget that will help you draw up plans to generate more revenue for the business.
3. Company Annual Budget Template
One of the best management and planning tools for an organization is the annual budget. A proper annual budget will help determine the financial road ahead of the organization. You too can make such a budget if you just make use of this budget template in Sheets. This template can be downloaded on any operating system and can also be edited.
7 Steps to Make an Annual Budget
Step 1: Consult With Everyone
The budget is generally prepared by the finance and accounts department of an organization. However, this does not imply that it should be made withing closed quarters. Before making the budget, the members of all the departments should be consulted. They should be asked about their expectations and estimates of the following financial year. This is because the different departments would be able to provide varying opinions on the budget. And this would help in making a proper budget.
Step 2: Make an Estimate of the Income
The income of an organization is determined by its revenues and sales. An estimate of this needs to be made for the budget. This estimate is quite tough to correctly project but has a very important influence on costs so it has to be done. There are several ways of making the estimate that you can choose from. For example, you can explore your finances with the help of a comparative study between your company and that of your rivals.
Step 3: Determine the Expenses
A budget is prepared when you have the income and expenditure together and you can compare them. So after determining the sales and revenue estimate, you need to determine the expenses of the organization for that fiscal year. There are generally two types of expenses for an organization: dynamic expenses such as those related to revenues, and static expenses such as rent, insurance, lease, etc.
Step 4: Specify Large Expenditures
For every organization, there will be some large capital expenditures. When the budget is made, these expenses are often skipped. However, these expenses are crucial to the progress and development of the organization. Such capital expenses include new pieces of equipment such as computers, systems, machinery, etc. Also, keep in mind that every new employee you hire adds to this capital expenditure.
Step 5: Be Realistic
It is good to be optimistic, but in the case of an annual budget, you have to more realistic than optimistic. Being too optimistic will lead you to make revenue estimates and determine expenses incorrectly. Such a budget will be based on expectations and hopes rather than on actual financial figures. If you are not realistic about the budget then you might end up setting unachievable or undermining goals for the organization for the fiscal year.
Step 6: Enter It Into the Financial System
The whole annual budget might be easier to follow and implement if it is broken down into a pro forma statement. A pro forma profit and loss statement is the annual budget divided into months. Once the budget is made, you need to enter it into the financial system of your organization. This way the budget will be available to be reviewed in the future when required. It will also ensure the review of each monthly statement and then compare it to the budget.
Step 7: Adjust, Control, and Tune It
The final step in making the annual budget is to check it for any sort of mistake. And then to ensure that the organization follows the budget and adheres to it. Keep in mind that a budget is a dynamic entity. It changes according to the situations and other relevant factors. So you need to keep a lookout for that. When required adjust the budget. If the organization is facing trouble keeping to the budget, see how it can be tuned to help control it.
4. Simple Annual Budget Template
The annual budget report is a very important document. However, this does not imply that the budget has to be overly complex and elaborate. With the help of this budget template in Pages, you can make a simple annual budget suited to the needs of your company. You can download the template on the go in either A4 size or any US Letter size.
5. Non-Profit Annual Budget Template
With this annual budget template in Numbers, you can get access to a blank non-profit budget that you can use to make your organization’s annual budget. The template features original headings and content written by professional writers. You can use this template to make a great annual budget for your non-profit organization.
6. HR Annual Budget Template
7. Corporate Annual Budget Template
8. Operating Annual Budget Template
A proper annual budget can serve as the best finance management tool. Are you having trouble making this budget for your company? Then this free budget template is just the thing for you! This template has been specifically crafted to help you make annual budgets that will ensure maximum revenues for your company. Download this template now to use it!
9. Basic Annual Budget Template
When you set up a company, the general goal is to get maximum profits from the sales. And to get that, you need to design an excellent annual budget. But you will not have to do that alone if you use this budget template. This template is the best tool to use to make annual budgets. The template is available in the portrait style orientation for your benefit.
10. State Annual Budget Template
Annual budgets are quite difficult to make. We understand that everyone is not adept at making such budgets which is why we are offering this annual budget template. This template can assist you in making the appropriate annual budget with ease and efficiency. The template is very simple and easy to use. All you have to do is download it and make the necessary changes.
11. Annual Budget Example
Are you a rookie at making annual budgets? Then we suggest that you take a look at this budget planner template that we are offering before you start working on your own. This template offers a sample annual budget that you can use as a guide to making one for your needs. The template can be effortlessly downloaded on both Mac and Windows operating systems. The template can also be edited to make an annual IT budget.