Time to think about 2014 Financial Year Budgets

If you don’t have a target you can’t hit it.

Creating a budget in most cases takes less than an hour.

It provides a chance to think about what your financial model will look like for the next year and also an opportunity to evaluate and streamline your expenses.

The easiest way to create a budget is to use a simple spreadsheet as the working document. It is the most basic of excel files so even if you are new to excel or not a gun operator it’s still easy. Once you have developed the budget you want you can input it to your accounting software – MYOB or Quickbooks in a few minutes.

Each month when you print your accounting reports you can also print one of actual reports against budget to see how you are going against your estimated target.

Early June is the usual time to create the budget for next year.