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Do this to make your company's budgets more effective

by , 05 September 2014
Your budgets are a financial lifeline when it comes to monitoring, planning and controlling your company's money. Without them, you'll struggle to reach your financial goals. This means your precious company could go down in financial ruin.

But you can make your company's budgets even more effective. All you have to do is create them in a way that you can easily change and compare.

The best way to do this is to use a simple and sneaky piece of software you already have on your computer...

 

Use this piece of software to improve your company's budgets

 
When you create any financial budget, do so in Microsoft Excel. By using Excel, you can apply all the Excel functions to it and that'll help you create a better budget.
 
You can also save your budgets in a safe place so that they won't suddenly go missing. The best thing to do is ensure only you, your managers and accountant can have access to your budgets.
 
By doing this, you'll reap all sorts of benefits...
 
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If you're adding to that statistic, you'll know how hard it is to find a solution that specifically relates to your Excel problem.
 
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Seven benefits you'll reap by doing your company's budgets in Excel

 
1. You can link different budgets together. So when you write 'Productions: R25 000' in your main budget, you can link that directly to your production budget.
2. You can easily manage all your numbers by letting Excel do the adding and subtracting for you.
3. You can lock the spreadsheets once you're happy with them so no one can change them.
4. You can safely distribute the budget to all your departments without worrying they'll change any of the figures.
5. You can add additional budgets to your Excel workbook if your expenses change or increase.
6. You can easily format your budget to work for you; and
7. You can change the data in the spreadsheet quickly and easily.
 
There you have it. Your company will benefit hugely just by moving your budgeting to Excel.


PS. Here is an amazingly simple way to manage your financials, with the Master Budget Series
 


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