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The key to successful company budgeting is organisation. Use these two tricks to achieve it

by , 02 October 2014
Organisation is key when it comes to running a business well. This is especially true for your finances and budgeting.

Without organisation in your company budget, you're more likely to lose money than save it.

Luckily, we can help you achieve perfect organisation in your budgets so you can manage your finances effectively.

Read on to find out how...

 

Here's how to create perfect organisation in your budgets with two easy tricks

 
To create perfect organisation in your budget, you have to start by organising your physical documents. These documents include bank statements and invoices to verify the amounts you put into your budget.
 
For example, when you create your budget, check last month's invoices to see how much you paid for certain expenses. This helps you correctly enter your expenses and income. 
 
The trick here is to create folders to store your finance documents for each month. Separate these into income and expenses and then into variables and fixed amounts. 
 
This will help you create an organised way of tracking the amounts you put in your budget.
 
Here's another trick to create this organisation.
 
*********** Reader's choice  ***************
 
If you're one of the first 50 readers to accept this invitation, I'll send you an Accounting Toolkit that includes practical tools to implement correct accounting practices in your business. 
 
It includes tools, templates and checklists that'll help you save on audit fees, reduce risks, record accounts accurately and be 100% legally compliant:
 
Related party relationships and balances schedule;
Expenses and liabilities checklist;
Leave pay accruals schedule;
Items to check on a monthly basis;
Fixed Asset register; and
Management account template for productive hours.
 
***************************************
 

Use this trick to create organisation in your budget

 
To create an organised budget you should split it into five sections:
 
1. Fixed expenses;
2. Variable expenses;
3. Once-off expenses;
4. Fixed income; and
5. Variable income.
 
You can separate these sections using a system of colour coding such as red for fixed expenses, orange for variables and yellow for once-offs.
 
This will help you prioritise  your expenses and ensure you can cover the costs you need each month. 
 
These two useful tips will help you achieve perfect organisation in your budgets every time. 


PS. Find out how to improve your cash flow and eliminate simple accounting mistakes
 


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