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    Small Business Budget Template QuickBooks

    Uploaded by

    va.amazonsellercentral

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Small Business Budget Template QuickBooks

    Uploaded by

    va.amazonsellercentral
    7 views15 pages

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

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    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    7 views15 pages

    Small Business Budget Template QuickBooks

    Uploaded by

    va.amazonsellercentral

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 15

    Small business budget template and planning guide

    For more information on small business budgeting and detailed instructions fo


    visit our guide on the QuickBooks Resource Center.

    Step 1: Input data from your year-end balance sheet and income
    statement into the templates below.

    Widget Inc.

    Balance Sheet

    [DATE]

    Account $

    Cash 10,000

    Accounts Receivable 20,000


    Inventory 30,000
    Other Assets 5,000
    Total Assets 65,000

    Accounts Payable 40,000


    Other Liabilities 10,000
    Total Liabilities 50,000

    Total Equity 15,000


    Step 2: Make some assumptions about sales and costs for the n
    year.

    Projected sales $300,000

    Cost of sales $240,000

    Payroll, other expenses $40,250

    Step 3: Use the data from Step 2 to create a budgeted income


    statement for the year.

    Widget Inc.

    Budgeted Income Statement

    Period Ending [DATE]

    Account $
    Sales 300,000
    Gain or loss on sale, Other
    0
    Revenue

    Total Revenue 300,000

    Cost of Sales 240,000

    Payroll Expense, Other Expenses 40,250

    Total Expenses 280,250

    Net Income 19,750


    Step 4: Make assumptions about balance sheet accounts and
    create a budgeted balance sheet for the year.

    Widget Inc.

    Budgeted Balance Sheet

    [DATE]

    Account $

    Cash 18,000

    Accounts Receivable 22,000

    Inventory 39,000

    Other Assets 5,000

    Total Assets 84,000

    Accounts Payable 50,000

    Other Liabilities 10,000

    Total Liabilities 60,000

    Total Equity 24,000

    Step 5: Make assumptions about cash flow, and create a budge


    cash rollforward for January (month 1).
    For simplicity, assume that some cash inflows and outf
    items occur evenly throughout the year (change
    assumptions later, if applicable).

    Widget Inc.

    Cash Rollforward

    Period Ending [DATE]

    Beginning cash balance 10,000

    Cash received on January sales


    22,500
    ($300,000 annual sales)/ 12 X 90%

    Other receivables collected 5,000

    Cash paid for inventory

    -17,000
    ($240,000 cost of sales)/ 12 X 85%

    Other payables paid in cash -10,000

    Ending cash balance 10,500


    Step 6: Create a February (month 2) budgeted cash rollfoward,
    using some assumptions from January.

    Widget Inc.

    Cash Rollforward

    Period Ending [DATE]


    $
    Beginning cash balance 10,500

    Cash received on January sales


    22,500

    ($300,000 annual sales)/ 12 X 90%

    Other receivables collected 3,000

    Cash paid for inventory


    -17,000
    ($240,000 cost of sales)/ 12 X 85%

    Other payables paid in cash -12,000

    Ending cash balance 7,000

    Step 7: Repeat Step 6, and create a cash rollforward for each


    month of the budgeted year.
    etailed instructions for using this template,

    sheet and income

    Widget Inc.

    Income Statement

    Period Ending [DATE]

    Account $

    Sales 250,000

    Loss on Sale of Equipment -5,000

    Total Revenue 245,000


    Cost of Sales 200,000

    A Payroll Expense 20,000

    B Other Expenses 15,000 35,000


    Total Expenses 235,000

    Net Income 10,000


    es and costs for the new

    20% increase from prior year

    Cost of sales are 80% of total sales

    Total expenses (Payroll and other costs) increase by 15%

    a budgeted income
    heet accounts and
    the year.

    80% increase from prior year

    10% increase from prior year

    30% increase from prior year

    No change

    25% increase from prior year

    No change

    , and create a budgeted


    h 1).
    ash inflows and outflow
    year (change

    From Step 1: Balance sheet for prior year end

    ($300,000 annual sales X


    90% cash collected) / 12
    months

    Estimate of miscellaneous prior year sales that are paid in January

    ($240,000 cost of sales X


    85% paid during the year)/
    12 months

    Estimate of miscellaneous bills paid in January


    eted cash rollfoward,
    ary.

    Ending cash balance for January

    ($300,000 annual sales X


    90% cash collected) / 12
    months

    Estimate of miscellaneous prior year sales that are paid in February

    ($240,000 cost of sales X


    85% paid during the year)/
    12 months

    Estimate of miscellaneous bills paid in January

    llforward for each


    Total expenses

    (A + B)

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