By investing some time in setting up a budgeting template within a spreadsheet you can create a useful tool that can be updated regularly and can quickly show the impact of changes to sales or spending levels on your business’ projected profits for that period.
Can software help with budgets?
There are many different online tools, apps and software packages designed to help you with your business budgeting. As you’d expect, these vary in cost and complexity. Whilst there are distinct budget apps such as Mint, many accounting software products offer integration or have their own expense tracking and budget reporting functionality. The advantage of using software is it can sync with other systems you’re using (ie your business bank account and POS system) and provide you with a real-time budget position.
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AAT Business Finance Basics
AAT Business Finance Basics are a series of online e-learning courses covering the core financial skills every business needs. They draw from AAT’s world-leading qualifications and will quickly build your knowledge on key topics including bookkeeping, budgeting and cash flow.
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