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Your business's name
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Resources:
Budget Planning Tips
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Financial Formulas to Use in Excel
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Improve Your Business's Cash Flow
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Resources to Improve Your Accounting Skills
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Small Business Guide to Tax Deductions
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Step 1:To get started, download or make a copy of this document. Add your business's name at the top of this page (it will automatically fill in on the other pages, so no need to repeat this step).
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Step 2:Enter your budget for the year on the Annual Budget tab. Here, you will add your fixed, variable and one-time costs, as well as your yearly revenue. This budget allows you to specify where your revenue is coming from and what you are spending your money on. Include as much information as possible, as this information is used to populate the Monthly Budget tab.
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Step 3:The Monthly Budget tab gives you a detailed breakdown of your annual budget. The information you entered on the Annual Budget tab has been prorated so you can see monthly estimates for your revenue and expenses. Each month is weighted equally by default. To change the weighting of each month, simply adjust the values in the Percent of Total Year cells on line five. Remember, these values must add up to 100% for the year.
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Step 4:At the end of every month, enter your actual revenue and expenses in the Monthly Actuals tab.
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Step 5:Now that you have your actual numbers, click on the Overview tab to see how they stack up against your budget. This snapshot of your financials shows you where you're succeeding and what you need to improve. Select the reporting month from the dropdown list on line four to see annual, year-to-date and monthly results for every month of the year.
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