free online retail business budget template excel

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. Revenue: Income generated through the sale of goods and services from business operations, after deducting returns and allowances such as discounts.Įxpenses: Cost to produce goods and services sold as well as operating expenses. 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. How to use our free small-business budget template

Free online retail business budget template excel