By using this system to create a forecast and compare it, I did not have to make monthly actual finances fell behind and stopped the costs
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How I hate the budget!
Every time an accountant told me to put a budget for my company I had my response when I get time-"I do not seem to just get time".
For the years I first started my company I never paid attention to the budget. If I look at my financial statements and make money, I know it was enough for me. Also, every time I tried to put something together, I never compare my actual finance to the budget number I created.
Two years ago, I decided to take another approach. I created a quarterly forecast that was expecting income and expenses. I figured out the numbers based on the actual figures of the previous year. Looking at last year, it was easy to just add a percentage increase to the numbers. Review deleted
By using this system to create a forecast and compare it, I did not have to make monthly actual finances fell behind and stopped the costs
I am an avid fan of information products. I buy a lot of dollars every month. It is said that it is important to spend as much as one's forecast that it is important to cut myself only. The great thing about this system is that you are not locked into a specific picture every month, but you still end the year or quarter
The best way to set this up is to use a financial program such as Quickbooks or Peachtree. Using the Software The next step is to print out the financial statements that track what you did. And take a number of your financial statements and increase your income at the rate you want to raise income at. Then look at the costs and determine what departments will increase based on sales increases. This will be a projection of your finances.
The final step is to check your actual financial statements (income statement or profit or loss) in your forecast. Prepare a system to increase revenue and reduce costs as needed.
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