Small Business Budget Templates Free Download
Managing a little business means there should also be a hard management of all financial matters. Unlike big firms that all money matters are dealt by a specific person, little businesses generally have a restricted number of workers and a person may be dealing with the business resources along with other assignments.
These little businesses should observe a budget plan to permit them to have more control over their money, here is an interesting article for 6 small business statistics you should read. Through successful budget planning, they are ensured of having enough extra money for other objectives. We have a full collection of free budget templates on our site that you can use for your small businesses.
Using the free budget templates
These business budget templates are pretty easy to customize and modify. Anyway, here are some things you should know and bear in mind as you use these templates:
Conditional formatting for red values
The difference is calculated as real – budget. Conditional formatting is used to highlight the difference red it income is less than the budget amount or if the business expenses are more than the budget. In easy words, a red value means you ought to take a closer look.
Analyzing cost of goods sold
The cost linked with purchasing and producing goods are variable costs that decrease or increase with the volume of sales and production, such as wages for direct labor required to product the goods, inventory purchases, packaging, commissions, and shipping. These costs are generally matched to the full sales. A careful study of these costs can support you determine pricing for your products, which products are more profitable, etc.
An individual section under business expenses calculates the net income before taxes by subtracting the full expenses from total profit. This helps you make an easy guess of the income taxes, assuming all the expenses are tax deductible. If you have any taxable expenses ensure to subtract those values from the net income before taxes before guessing your income tax budget.
The goods free budget template is set up initially to record full net sales for each quarter. If you want to do a more detailed analysis for different products, you can insert further rows and separate the costs and sales according to product, or you can use the bonus spreadsheet that is designed for performing a full analysis for multiple products.
Budgeting big non-recurring expenses
One of the factors for budgeting is definitely to help you determine whether you will be capable to afford upgrades, asset purchases, new construction, etc. anyway, this budget template is largely for matching your operating expenses and income to ensure that in your general business activities you are earning more than you are spending. You would generally look at your net income to determine whether you will be capable to spread your business, make big assets purchases, etc.
These templates can be downloaded and accessed easily and for free on our site. You may pick to download it in different formats depending on your preference. You may download it in completely edible Doc or Docx formats for compatibility with Ms Word, or you may also download it in Xlsx, Xls for compatibility with Microsoft Excel.