Keeping A Budget Worksheet
That is the second real value of bookkeeping spreadsheets the ability to provide the business with financial information and through that data financial control over the business activities. The first value is of course the simplicity of listing with automated summation of the figures. Small businesses can also benefit from professionally produced bookkeeping spreadsheets that have been specifically arranged not just to produce a list of income and expenses but also in a way that analyze that information in the way the small business requires it.
You need to know which projects and tasks are slipping through the cracks so that you again react. You need to know when you will not have enough resources to meet demand so that you can allocate them properly or manage the demand. You need to know which issues are lurking so that you can address them now before you lose the favor of a critical customer. And you need to see how your processes are working so that you can continuously improve your processes. In today s economy competitive landscape and accountability standards you must have the data. Managers are getting blindsided because they do not know what is coming and what is going on.
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Your business revenue and losses are reported as part of your annual personal income tax. For this small business start-up you won t need to buy fancy accounting software like Quick Books or AccPac to track your business. Only as part of incorporating Bizfare Enterprise Inc in 2005 was it a requirement to engage an accountant. My accountant did insist on using Quick Books software for my business accounting. Up until then using a simple spreadsheet template served my business accounting needs for over ten years. This simple spreadsheet accounting stood the test of multiple audits by Revenue Canada (CRA and Revenue Canada Goods and Services Tax.
Creating this Synoptic Journal is easier to do than you think and requires no prior accounting or bookkeeping knowledge. Are you looking for a Personal Budget Spreadsheet template? Do you need to record your income and expenses in order to determine your intended profitability? A great personal budget spreadsheet will include a list of sources of income; a list of all fixed expenses such as rent utilities telephone; and a list of variable expenses. Find the right consulting firm who can assist you in creating this template and show you how to use it to its optimum so that you can draw the maximum benefit from it.