Financial resources are the most precious assets that every business possesses. Without them, a business wouldn’t even exist in the first place. For this reason, financial assets must be spent wisely. One the best ways to do that is creating a monthly business budget. Every month, expenses such as bills, utilities, rent, and other investments pile up. Allocating budget for these expenses is made easier with a monthly business budget. In this quick guide, we will teach you some steps on how to create a monthly business budget.
When creating a monthly business budget, you should always start by tallying your business’s monthly income. The tally should always include your monthly revenue and profit figures, followed by other sources of income you’re regularly utilizing to keep your business running.
These are expenses that you pay for each month with prices that don’t change often. Most likely, these expenses concerns rents and employee salaries. Since these are expenses you deal with on a monthly basis, they should not be a hassle to identify.
Variable costs are monthly expenses that often change. The scale of their changes depends mostly on your business’s current state. Mostly it concerns your business’s revenue and profit or loss situations. If your business is currently having a steady revenue, you can opt to raise your variable costs accordingly. If otherwise, then you should minimize it.
One-time spends are expenses that you don’t regularly spend on. Most likely, they may be emergency expenses such as purchasing an immediate replacement for a problematic machinery, availing for repair services, and many more. So if your business has extra income, consider allocating them for possible one-time spends.
In this step, start by making an outline, then categorize the various expenses according to their type. Make use of charts and graphs to organize them easily. Lastly, calculate the total sum of your entire expenses for the month.
The Monthly Business Budget Template is a document that every business owner should own. It simplifies making a monthly business budget in your stead. The best thing about this template is that it makes good use of charts, making it easier to calculate your total income, and a lot less of a hassle to allocate budget for every expense. You can own this template in just a few purchasing steps, which starts by clicking on its ‘download’ button.
As its name implies, the Monthly Sales Budget Template focuses mainly on a business’s sales budget. These are estimates of possible revenues that the business will earn in the future. A monthly sales budget can help you set objectives for the month, estimate potential profits, and foresee future production expenses and requirements. So why not consider owning this template.
As you can see with its name, the Restaurant Monthly Budget Template is primarily intended for the convenience of restaurant businesses that regularly make monthly budgets. Every angle that a restaurant should cover on their monthly budgets are already provided by this template, all they have to do is fill in its blanks. So if you have a restaurant business, this template will certainly help you with your monthly budget.
The Monthly Budget Worksheet Template is the simplest-looking template on this list. But despite its simplicity, it actually gets the job done. It only consists of two blank charts wherein you’ll list down all of your monthly expenses, and allocating a budget for each of them. Lastly, you can even add more slots to the charts in case they aren’t enough for you.
The Restaurant Monthly Budget is another template on this list intended for restaurant businesses. Since this template is nine pages long, expect that it’s very detailed when it comes to the dispersing of a restaurant’s monthly budget. All of its contents consist entirely of charts with a lot of given slots for you to encode relevant data and information.
The Free Monthly Budget Management Report Template is most useful for business managers who often make impromptu monthly budget reports for their respective superiors. But this could also be useful for small business owners. This template is available in three formats, the most common being MS Word. The best thing about this template is that you can own it without spending even a single penny.
The Free Monthly Budget Template is another template that is useful for business managers. It’s most useful when you’re making impromptu monthly budgets since its layout is very simple, but yet functional. Moreover, this template’s artistic design is toned just right, not overshadowing any relevant information you wish to encode on it. And lastly, you could also own this template for free. All you have to do is click on its ‘download’ button.
The Sample Monthly Business Budget is a great example on how a simplified monthly business budget should look like. It includes transportation expenses, office expenses, rental expenses, and many more. You can use this sample as a reference or as a template when making your own monthly budget document. And lastly, you can own this file instantly by simply clicking on its ‘download’ button.
Beautifully Designed, Easily Editable Templates to Get your Work Done Faster & Smarter.View All Monthly Budget Templates