Business Budget Plan Example

Some also include blank lines to include the actual costs.

If you're not sure about an expense, always overestimate.In the diagram here below of full financials (repeated here from three essential projections posted previously in this series) the spending budget includes both the expenses portion of profit and loss and additional spending that doesn’t show up in profit and loss but does impact the cash flow and balance sheet.By the way, the word budget, as I use it here, is exactly the same as forecast. I could just as easily refer to revenue and spending budgets, or revenue and spending forecasts, as revenue forecast and spending budget.One thing people tend to forget when preparing a sample business budget is to incorporate all of the taxes and fees.For example, if you need to make a purchase for your business, don't forget to build any state or local sales tax into the cost.True, nobody likes budgets, but the budgeting function is one of the most important to management to keep cash in the bank; and we all know it.In standard business plan budgeting, you look for realism and credibility, with educated guesses.If you're applying for loans to help you with business costs, a sample budget is usually required.This type of budget can also be helpful in anticipating your business expenses for the year.Most people are used to them the way I’m using them, with forecast for revenue and budget for spending.Also, the difference between Costs and Expenses is significant.

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