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#MICROSOFT EXCEL TEMPLATES FOR SMALL BUSINESS HOW TO#
#MICROSOFT EXCEL TEMPLATES FOR SMALL BUSINESS FREE#

If your product name is Cool Product, please rename the sheet to Cool Product.

Rename the sheet to match your product name.

See below for an example.Product Detail Sheet in Catalog – Customize It’s useful to have on hand as you create your business budget because it serves as your baseline.

#MICROSOFT EXCEL TEMPLATES FOR SMALL BUSINESS HOW TO#

Now that we’ve discussed how to track your income, expenses, and actual costs, you can better understand your finances-and make better financial decisions for your small business-by creating an income statement.Īs we mentioned earlier, your income or profit and loss (P&L) statement shows how much profit your business has made, or how much you’ve lost. Step 4: Make better financial decisions for your small business Which brings us to our fourth and final step: Use this information to make better decisions for your small business. Your intentions might be good when it comes to what you should be spending, but if you aren’t going to adjust this in practice, you won’t find much use in a budget. Why is this step so important? Because it’s like holding a mirror up to your finances. You’ll do this to see if what you estimated reflects the actual expenses leaving your bank account. Here’s where you’ll revisit our business budget template on a monthly basis to track what you’ve actually spent on each line item you entered in step 2.

To get an accurate budget, make sure to include all streams of revenue in your inventory.įields to input actual income and costs highlighted in our business budget template Depending on your business model, you might have several sources of revenue, such as a subscription service or online classes. We’ll cover that later on.įor this first step, we’re most interested in your revenue.

Profit: Cash your company makes from business operations, including gross profit, operating profit, and net profit.ĭon’t have an income statement handy? No problem.

Expenses: Cost to produce goods and services sold as well as operating expenses.

Revenue: Income generated through the sale of goods and services from business operations, after deducting returns and allowances such as discounts.

An income statement shows how much profit your company has made, or how much you’ve lost. To find out how much you’re bringing in, you can refer to your profit and loss (P&L) statement, also known as your income statement. Why not? Because your income determines how much you’re able to spend. You can’t create a budget without taking inventory of your income. Step 1: Take inventory of income to determine what you can spend Rather than create a budget spreadsheet yourself, use our budget template spreadsheet to jumpstart your budget plan.

#MICROSOFT EXCEL TEMPLATES FOR SMALL BUSINESS FREE#

Business Budget Template How to use our free small-business budget template Even better news? We’ve already made a free small-business budget template for you. All you need is a spreadsheet tool such as Microsoft Excel to create a budgeting tool of your own. Making a useful budget for your small business doesn’t have to be complicated. To give your new small business its best chance at survival, you’ll need to learn how to take inventory of your income and costs-your cash flow-and track what you’re actually making and spending. And while reasons vary, their failure is often due to cash flow problems.ĭon’t let your business become another statistic. Bureau of Labor Statistics, 20% of small businesses fail within their first year.

Learn how to create and use a budget for your business using our free template.Īccording to the U.S.