How to Make Budget Template to Keep Proper Track of Your Financial State
Managing finance can lead to secured life. Without good financial management, you might have problem meeting daily needs. You might even be entangled in debt too. Fortunately, you can avoid all of them with the help of budget template. There is more to it to budget than what meets the eye.
The income has to be categorized. Then, you need to track the savings and expenses. By doing things like this, you will be able to get a picture of financial situation of yours. There is no need to worry if you follow these steps below. Let’s see.
#1 Step to Make the Budget Template
Financial management is not meant for personal use only, you know. You can do the same for the financial state of your business. It would be more necessary if you are planning on doing particular project. So, you can start by writing the name of your company after the big title of ‘Project Budget’.
Although there are many kinds of budget sample, they often have such heading in the template. What following next are project name and other related information; estimated time and amount, investment, expenses, and net amount.
#2 Step to Make the Budget Template
When doing any business project, there must be money invested to carry out the plan, right? When it comes to investment though, we can start from one provided by your company. Here, it is best to make table in the template. On the left rows of square, do write the necessary points for the project.
For example, they could be the available amount, existing revenue, and other sources. The last row must be the total investment from the company. The columns can be divided by number only and ended by total amount of investments.
#3 Step to Make the Budget Template
Investment does not come from the company only. There are ones you can get from funds too. Sample budget will have another table to be added in the template. Just like before, there are some rows to be filled too here. You can have government grant, organization fund, donation, and others.
Of course, there will have to be total investment through the funds. Also, fill the columns with number and total amount in the last column. Then, make one separate row to add the investment from the company and the funds below.
#4 Step to Make the Budget Template
The last table will be the expense, of course. This time, the rows will include the employee wage, itemized expense, category wise expense, equipment cost, unexpected cost, and testing expense. Like before, have the total expense by the end of the row and column to finish this last table here.
Spare some space for the final budget. With the format above, the final budget formula to use would be (total investment – (total expense + tax)). It will finalize your budget template and you are done with everything. It sure is worth trying.