13 general and administrative expenses you need to include in your General and Administrative Expenses Budget
A General and Administrative Expenses Budget helps you manage all of the day-to-day expenses that make up running a business.
You can use your expense documents from the previous period to budget for the current period. You also use the current economic climate and inflation rate to see the impact on the general expenses of your business.
But before you get to this point, you need to have the right expenses in your budget. That's why we're revealing the 13 expenses you must always have in this budget...
Always include these 13 expenses in your General and Administrative Expenses Budget
Before you can budget for general and administrative expenses, you need to know what expenses fall under this umbrella. Use this handy list to see if your expenses are general and administrative expenses.
Note: There isn't an exhaustive list of all general and administrative expenses but these are 13 of the most common:
3. Repairs and maintenance costs;
4. Accounting fees;
5. Consultation fees;
7. Telephone costs;
8. Entertainment expenses;
9. Water and electricity costs;
10. Postage fees;
11. Legal fees;
12. Travel costs; and
13. Salaries and wages.
Just remember this one important point about these expenses.
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Always remember this important point about your general and administrative expenses
Just because all of these expenses fall under the general and administrative umbrella, doesn't mean they're all the same.
Some of these are variable and change month to month. These are expenses such as the telephone costs, water and electricity. You need to accurately record these expenses each month.
Then there are the fixed expenses such as rent and salaries. These don't change from month to month so you can simply copy these over from your previous month's budget.
By including these 13 expenses, your General and Administrative Expenses Budget will easily help you manage your business expenses.
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