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12 months business budget Excel Template

Having a 12 months business budget is essential for any size business. A business budget helps you decide whether you can grow your business, give yourself a raise, purchase additional inventory and assets, and whether you may be able to avoid bankruptcy.

It’s possible to modify a personal budget spreadsheet to apply to a business, but if you are using our Income Statement Template, you’ll want to use the business budget spreadsheet so that you can create a budget that is parallel to your income statement.

12 months Business Budget

This worksheet is a variant of the above business budget, with sales and business expenses broken down by month. This is helpful for budgeting quarterly expenses and other business expenses that occur at specific times of the year.

The Goods worksheet lets you record sales and cost of goods sold for multiple products.

What is the Importance of a Business Budget?

A business budget gives you a clear picture of your expenses and income. It helps you make crucial decisions like enhancing marketing, lowering costs, employing people, buying equipment, and improving efficiencies in other ways. It also specifies your company’s financial and operational objectives. Thus, it may be consider an action plan that aids in resource allocation, performance evaluation, and plan formulation. Therefore, let’s delve deeper into understanding the importance of a business budget and types of budgets.

What are the requirements of a Business Budget?

The basic method of creating a budget entails creating a monthly list of your company’s fixed and variable costs and then deciding how to allocate funds to meet goals.

Specialized budgets are frequently used by businesses to evaluate specific areas of operation. For example, a cash flow budget forecasts your company’s cash inflows and outflows over a set period. Its primary function is to forecast your company’s capacity to take in more money than it pays out.

The majority of businesses have fixed costs that are unrelated to revenue, such as:

  •  The cost of constructing a building or office, as well as the cost of a mortgage
  •  Payments on a loan (if using debt financing)
  •  Insurance
  • Leasing a vehicle (or loan payments if the vehicle is purchased)
  • the necessary equipment (machinery, tools, computers, etc.)
  • Paystubs (if employees are on salary)
  • Charges for utilities such as landline phones and internet

Depending on the level of company activity, variable costs rise or fall. Here are several examples:

  • Wages and commissions paid to contractors (for salespeople)
  • Utilities that rise in price as activity rises, such as electricity, gas, or water
  • Supplies of raw materials
  • Costs of shipping and delivery
  • Advertisement (can be fixed or variable)
  • Equipment maintenance and repair
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Compatible with : Microsoft Office Excel, Libra Office, WPS Office, Google WorkSheet
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