![]() If you are analyzing the financial information for a company that spans several years, you may wish to use an annual income statement. We’ve also compiled the most useful free budget proposal templates for organizations, project managers, grant writers, researchers, team members, and other stakeholders.The income statement (also called a profit and loss statement) summarizes a business’ revenues and operating expenses over a time period to calculate the net income for the period.īelow are two types of income statement templates. Adjust Your Budget: Update your budget as needed, once you see how estimates compare with actual income and expenses.Analyze Your Profit Margin: Compare the variance between projected costs and actual costs - as well as projected income compared to actual income - to determine how close you are to meeting financial goals.Estimate Your Income: Calculate the income you expect to earn, whether it is from existing capital, investors, or projected profits.Factor in Cost of Goods: Enter the cost of goods (COGS), which includes beginning inventory, shipping charges, and related labor.Specify Fixed and Variable Costs: Determine all fixed and variable costs involved in running your small business, such as office space, equipment, employee wages, insurance, and training.When creating a small business budget, consider the following factors: Once you enter the above budget details, use the template to inspect the variances between the projected budget and the actual numbers to track your business’s finances and make any necessary adjustments.Ī small business budget allows you to plan for expenses and analyze anticipated income against actual income. Actual Income: This refers to the actual income (compared to planned income).Planned Income: This includes anticipated income from sales, services, investors, etc.Actual Costs: This refers to how much items actually cost (compared to planned expenses).Additional Costs: These costs might include marketing, legal fees, training, and travel. ![]() Planned Expenses: These include employee costs (wages and benefits), office costs (lease, utilities, etc.), and other known payments.In short, a small business budget reveals additional opportunities and possible revenue streams.Ī small business budget template provides a clear, autotallied, factor-by-factor picture of a company’s estimated capital vs. You can also use a template to factor in unexpected costs and revenue to determine which expenditures to trim in order to keep the company’s profitability on track. Report: Empowering Employees to Drive InnovationĪ small business budget template is a reliable tool that enables you to calculate expenses, revenue, and profits to see how close you are to reaching your organization’s financial goals.Solution Center Move faster with templates, integrations, and more.Events Explore upcoming events and webinars.Content Center Get actionable news, articles, reports, and release notes.Partners Find a partner or join our award-winning program.Professional Services Get expert help to deliver end-to-end business solutions.Technical Support Get expert coaching, deep technical support and guidance.Help Center Get answers to common questions or open up a support case.Smartsheet University Access eLearning, Instructor-led training, and certification.Community Find answers, learn best practices, or ask a question.Learning Center Find tutorials, help articles & webinars.What’s up next New data insights and faster, easier ways to find and organize your work.WorkApps Package your entire business program or project into a WorkApp in minutes.Digital asset management Manage and distribute assets, and see how they perform.Resource management Find the best project team and forecast resourcing needs.Intelligent workflows Automate business processes across systems.Governance & administration Configure and manage global controls and settings.Streamlined business apps Build easy-to-navigate business apps in minutes.Integrations Work smarter and more efficiently by sharing information across platforms.Secure request management Streamline requests, process ticketing, and more.Portfolio management at scale Deliver project consistency and visibility at scale.Content management Organize, manage, and review content production.Workflow automation Quickly automate repetitive tasks and processes.Team collaboration Connect everyone on one collaborative platform.Smartsheet platform Learn how the Smartsheet platform for dynamic work offers a robust set of capabilities to empower everyone to manage projects, automate workflows, and rapidly build solutions at scale.
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