Budgeting & Forecasting Services
Creating a budget and forecast are a crucial part of setting your business up for financial success. A budget and forecast are tools used to create a financial plan, establish goals, and priorities for your business. They can help you determine if you are on track to meet those goals.
What is a budget?
A budget is a detailed representation of future revenues and expenses of a company. It lays out expectations that management would like to achieve over a period, typically one year. Actual results are compared to the budget monthly. Business owners can use the budget to help determine if they are on track to meet their short-term goals.
What is a forecast?
A forecast is a projection of major revenues and expense items over a period. The forecast period can be as short as a week or a year or longer. The forecast can be updated at regular intervals if needed. Forecasts are not compared to actual results.
Creating a financial plan
I will work with you to create a budget and forecast for your business that will give you more control over your operating expenses and profitability.