Budgeting Make a Plan. Work Your Plan.
Every business needs a budget. We can help.
Fact #1: In our personal lives and in our businesses, we all need a budget.
Fact #2: Setting a budget is officially not fun. (Unless you’re a bookkeeper. We think it’s really fun and essential.)
Budgeting for your coming fiscal year – or the remainder of the current fiscal year – is crucial to the success of your business. It helps you forecast earnings, expenses, and everything in between. By looking at your P&L statements from previous years, we can pick up on patterns that can help you budget for the future:
- Anticipate peak sales periods, so you can adequately plan for labor, raw materials, etc.
- Notice slower periods and budget a higher marketing budget to drive more sales.
- Dig deeper into months where expenses could be cut back.
- Review marketing expenditures to determine if the investment provided a large enough return.
- Plan for any seasonality that could affect your business.
- Determine the best times to schedule a vacation.
You get the idea. At Harvest Bookkeeping, we can provide insights to help you make the most profitable choices possible. And once we create your budget, it should be reviewed monthly to make adjustments as needed. A truly useful budget is always being tweaked based on market conditions, sales, what’s in your pipeline, and many other factors. But, by creating a budget at the beginning of the year, you at least have a roadmap that gives you a starting point. Then, you can make adjustments as needed to have the greatest impact.