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How to use spreadsheets for budgeting and financial planning

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Jason Chan
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As a business owner, you know that managing finances is crucial for success. One of the best tools for financial planning and budgeting is the humble spreadsheet—a way to track income and expenses, create budgets, and forecast revenue. In this blog post, we’ll offer some tips and best practices on how businesses can use spreadsheets for budgeting and financial planning.

  1. Create a Budget Spreadsheet Template

The first step is to create a budget spreadsheet template. This template should include all the necessary categories and subcategories, such as revenue, expenses, and cash flow. You can customize the template to fit your business needs and make it easy to input and track data.

  1. Track Income and Expenses

Once you have a template set up, you can start tracking your income and expenses. This includes tracking revenue from sales, fees, and investments, as well as expenses like rent, utilities, and supplies. It's important to keep track of every dollar that goes in and out of your business, so you have a clear understanding of your cash flow.

  1. Categorize Your Expenses

Categorizing your expenses is crucial for creating an accurate budget. Divide your expenses into categories such as payroll, rent, advertising, and office supplies. This will help you identify areas where you can cut costs and make adjustments to your budget.

  1. Review and Adjust Your Budget Regularly

Creating a budget is not a one-time event. It's important to regularly review and adjust your budget based on your actual financial performance. This will help you stay on track and make informed decisions about your business's financial future.

Take the time to set up a budget spreadsheet template, input your financial data, and regularly review your budget to ensure your business is on the path to success!

Here’s the template we’ve built through this demo:

Simple Budget: https://subset.so/community/file/4zPYN1ebOU5ycy5PT8m0JQ/Simple-Budget

Check out related templates!

Monthly Budget

50/30/20 Budget Rule with Tracker

How to Categorize Expenses