This budget template is a ready-made document to help you get an overview of your business, plan for the future, and review your earnings and spendings.
Just enter your expected income and expenses. The spreadsheet does all the calculations for you.
A budget gives you control over your income and expenses. But budgeting isn’t just about numbers—it’s about the future of your business or freelancing career.
A budget ensures that you can reach your goals, allocate resources, cover your costs, and ultimately, turn a profit.
See also: How to make a budget—the ultimate guide for businesses
Budget smarter, not harder—it’s 100% free.
A free business budget template provides you with a solid foundation to for your budget. With an Excel template, you don’t have to start from scratch, and you can easily tweak it to suit your needs.
Identify all your sources of income, including the sale of goods and services, subscriptions, licensing fees, or any other activities that generate revenue. Make sure to consider both recurring and one-time sources.
You can use a profit and loss statement to be able to predict your revenue.
The cost of goods sold is how much it’ll cost you to produce goods or to sell services. You can look at your cost price and add it up by the amount of goods or services you expect to produce.
Start with fixed costs, such as rental costs, insurance and the interest you pay on loans. Depreciation is also a type of fixed cost.
Next, list variable costs, including raw materials, inventory purchases, marketing expenses, travel and so on.
You can use a profit and loss statement to be able to predict your costs.
We’re nearing the end here. Add the income you have from interest, or the expenses you have, for example interest you pay on a loan you have in the bank.
Finally, just add your tax expenses, in other words, how much you’re paying in taxes. At the bottom of the budget, you’ll see your net profit profit per month across the year.
The market conditions, your competition, your expenses and your operations are constantly changing, and so should your budget. Make sure to review and adjust your budget yearly so that it accurately predicts the year ahead. You can also use your profit and loss statements to see if your past budgets were accurate.
Once you have your list of expenses, you can categorize them into essential and non-essential costs.
Essential costs are necessary to run and expand your business, such as payroll, rent, utilities, and raw materials. Non-essential expenses, on the other hand, are not required and can include things like marketing campaigns, travel, or PR costs.
Prioritize essential expenses and carefully evaluate your non-essential costs, to make sure all your money is going towards reaching your business goals.
With a clear understanding of your revenue streams and operating expenses, it’s time to set financial goals for your business. These goals could include increasing sales revenue, reducing operating costs, improving profit margins, or expanding into new markets.
Be specific, and include measurable targets and timelines for your goals.
Now that you have a clear picture of your revenue and expenses, it’s time to allocate your resources accordingly.Start by covering your essential operating expenses to ensure that your business runs smoothly.
Then allocate funds towards your financial goals, whether it’s doing marketing activities, expanding your product line, or upgrading your infrastructure.
Creating a business budget is only the first step; effectively managing your finances requires you to continually monitor and track your spending.
Use accounting software or budgeting tools to track your income and expenses and compare them against your budget. Try to identify areas where you may be overspending or underspending, and make the necessary adjustments to stay on track towards your financial goals.
The template was designed to be user-friendly and intuitive, and, most importantly, to give you the data you need.
Say goodbye to hours of budgeting and tinkering with spreadsheets—the template does the heavy lifting for you.
Using a ready-made template minimizes the risk of errors. Calculations are done for you, so that you get the most out of your budget.
With Conta you can send invoices for free. It’s quick and easy, just add your business details, info about products or services and the client.
With free invoicing software, you can keep track of all your invoices in one place and easily follow up on overdue payments.
Send invoices for freeTo create a realistic budget, you need to sit down and try to predict your expenses and your income. If you’ve been running a business for a while, it’s a good idea to look at your profit and loss statement—also called income statement—from the previous year or month. That’ll let you more accurately set up a budget going forward. Download a free sample profit and loss statement.
If you’re just starting out, you can ask people in your network or do some research online. Once you’ve been up and running for a bit, it’ll get easier to budget as well.
See also: How to set up a budget
You can download a budget template for Excel and easily create your budget in Excel. Just enter your expenses and revenue in the fields, or delete and adjust fields as necessary.
You can make a budget from scratch, but you can also download a budget template that works for both Excel and Google Sheets. You can adjust the budget template so that it covers all your expenses and revenue streams.
Once you’re done, simply save the budget or print it off to show to your management, stakeholders or investors.
The key components of a budget are these: Your revenue streams, your expenses, your interest—both income and expenses related to interest—and tax. Once you’ve entered these four components, you’ll be able to see the net profit across a month, quarter or year. How long a period your budget should cover depends on your needs—you can also create one budget for the month, another for a quarter and one for the year. This will give you great control over your business.
Download a free budget template for Excel and Google Sheets.
Everything you need to invoice:
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