How to write a budget plan template

A comprehensive financial plan is essential to help make sure your business idea will pay the bills, make a profit and help you achieve your financial goals. You can get started on creating yours by following the steps below. Here are some examples of costs that typically come up at the start: Registrations and licences such as registering for an ABN and business name Rent and utilities Starting working capital — money needed for day-to-day operations 2.

How to write a budget plan template

How to use Financial Plan Model Inputs Use the Model Inputs sheet to enter information about your business that will be used to model results seen on the other pages. Forecasted Revenue The forecasted revenue section allows you to estimate your revenue for 4 different products. Simply use the white boxes to enter the number of units you expect to sell, and the price you expect to sell them for, and the spreadsheet will calculate the total revenue for each product for the year.

If you want to give your products names, simply type over the words "Product 1", "Product 2" etc. Cost of Goods Sold Your margins are unlikely to be the same on all of your products, so the cost of goods sold allows you to enter your expected gross margin for each product into the white boxes in Column B.

The spreadsheet will automatically calculate the annual cost of goods sold based on this information, along with your forecasted revenue.

Annual Maintenance, Repair and Overhaul As the cost of annual maintenance, repair and overhaul is likely to increase each year, you will need to enter a percentage factor on your capital equipment in the white box in Column B. This will be used to calculate your operating expenses in the profit and loss sheet.

Asset Depreciation Use the white box to enter the number of years you expect your assets to depreciate over.

This may vary greatly from business to business, as assets in some sectors depreciate much more quickly than they do in others.

All about this Budget Proposal

Tax In most parts of the world, you will have to pay income on your earnings. Enter the annual tax rate that applies to your circumstances in the white box in Column B.

If you have to pay any other taxes, these can be entered later on the Profit and Loss sheet. Inflation Although you cannot be certain of the level of inflation, you will still need to try and plan for it when coming up with a 5-year financial plan.

The International Monetary Fund provide forecasts for a number of countries, so is a good place to look if you are unsure what to enter here. Simply enter your inflation rate in the white box.

Product Price Increase As a consumer, you are no doubt aware that the price of products goes up over time. Enter a number in the white box to show the expected annual price increase of your products to enable the spreadsheet to calculate income in future years.

If you are unsure what to put here, increasing your product price in line with inflation is a good starting point.

If your business is just starting out, you may be able to command higher prices for your products or services as the years go on, as you build up brand recognition and a good reputation. Funding The funding section allows you to enter information about your business loan.

To use this section, simply fill in the three white boxes representing the amount of the loan, the annual interest rate and the term of the loan in months - for example, 12 for 1 year, 24 for 2 years, 36 for 3 years, 48 for 4 years, or 60 for a 5 year loan.

Profit and loss This sheet calculates your profit and loss for each year over a 5 year period. The profit and loss assumptions, along with income, are automatically calculated using information entered in the model inputs sheet. Non-Operation Income You may have, or be expecting some income in addition to your operating income.

how to write a budget plan template

There are pre-entered categories for rental, lost income and loss or gain on the sale of assets, as well as an additional row where you can enter your own non-operation income. Operating Expenses Some parts of this are already filled in based on information you put on the Model Inputs, for example, depreciation, maintenance and interest on long-term debt.

how to write a budget plan template

Years are also filled in for you across all categories based on the inflation information entered in the Model Inputs sheet. Non-recurring Expenses This section is for entering any expenses that you will not be paying on an annual basis.

The Unexpected Expenses row allows you to enter a contingency for unexpected expenses, whilst the Other Expenses row allows you to enter any other one off expenses you may be expecting to make, for example the purchase of new equipment part way into your 5 year plan.

Taxes Income Tax is filled in based on the information you enter into the model inputs. Depending on where your business is based, you may find yourself having to pay other taxes.

These can be entered in the Other Tax row. You can rename this row by typing over the "Other Tax specify " text.

Budgeting: How to develop a program budget

Balance Sheet The annual balances for Years are, in most cases, filled in for you, based on the information you have entered on the Model Inputs sheet and in the Initial Balance column of the Balance Sheet column itself.

This makes it very easy to use. At the bottom of this section is a space for you to enter any other current assets you may have that do not fall into any of these categories. Property and Equipment Depending on the nature of your business, you may have assets such as Buildings, Land, Capital Improvements and Machinery.This sample business plan is intended to provide you with a template that can be used as a reference for when you’re hard at work on your plan.

The company is a completely fictional organic denim and apparel company, however, we made sure the industry research was . Business Plan template A Business Plan is like a blue print for your business - it details all your goals and how you plan to achieve them. You will be required to submit a Business Plan with your final Start Up Loan application.

15+ Budget Plan Templates – Free Sample, Example, Format Download! A Budget Plan Template is a blueprint of a budget. The plan template is a documentation that could be for an individual, family, school or business entity.

Business Proposal Template; Write your business plan with the #1 online business planning tool. Standard Business Plan Financials: Spending Budget. As I continue with my standard business plan distributing profits, owners’ draw, or other spending outside of profit and loss, keep those in your spending budget.

Keep track of them.

Free Business Plan Template Download

Plan. A good business plan is a living document. It should be updated regularly. 2 Title Page Your Company Name Street Address City, State & Zip Code Sheet template Click here: for automated Income Statement template Click here: for automated Cash Flow Statement template New Business.

Budget spreadsheet templates for personal, family or household budgeting. The wedding budget planner template is designed to make planning of your wedding easier and less stressful, contributions and expenses and create your college budget plan.

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