In the Personnel Expense Budget Section include the salaries for the following: o Office Personnel o Store Personnel o Sales People o Other personnel necessary in the operations. Ideally, you budget expenses for a quarter in the personnel expense budget. This is for the first three months of operations where you are not expecting profits to come in as yet. You may have receivables during the first few months of operations but they may need to be earmarked for other operating expenses and thus your budget needs to be sufficient for the first quarter. Even if you are budgeting for the year and is already in full operations budgeting for three months is still a good rule of thumb. If you are already comfortable with your budgeting and timing of receivables, only then can you budget two months for personnel expense budget.
How many times you have wandered through gifts and card shops to buy Christmas greeting cards for your friends, family and colleagues to be dispatched before Christmas Eve? It's a common practice through which Invitation businesses mint considerable money every year. Once you are through the hassle of selecting all the cards, there comes the tiring phase of penning down each one with an exclusive wish followed by your name and so on. The prospect of selecting and writing a large number of Christmas greetings is not only boring, but demands a lot of time and patience.