While it is true that you have to think of business expense ahead of everything and therefore budget for it in advance, this is an ongoing process you have to include in your operations. You may set up an Expense Budget for a month, a quarter or annual. You have to ensure that you are able to budget it well to ensure that your business operations is directed into ensuring return on investment in every business endeavor you make. Because of this, you have to create an Expense Budget and monitor it well. To help you, Excel has an Expense Budget Template you can take advantage of. You may create your own template complete with logo and color scheme of your company but to start the process, you can download the Excel Expense Budget Template to have an idea of the important details necessary for this budgeting process. What are the details necessary for the Expense Budget Template? Expense budgets contain two important sections: Personnel Section and Operating Section.
Once this person has a financial template, they can use it to create forms the template will simply guide them through. The mere fact that the template has certain line items _ like the Balance Sheet, for example, forces you to think in a well_organized fashion and gather the information according to the structure of the template _ cash balances, accounts receivable, fixed assets, liabilities, etc. The same goes for a Business Plan. A well_designed financial template can steer you away from making some fundamental mistakes. A client of mine brought me a self_prepared Business Plan once and we both smiled at the many line items he had on his Profit & Loss statement which really belonged on a Balance Sheet. With a professionally designed template, he wouldn't have made that mistake.