There is a simple formula that small business owners, network marketers, and entrepreneurs alike can follow to make the budget process less daunting. That is the PPFE (Past, Present, Future, Estimate) Small Business Budget Formula.

Past

Sometimes the past is a very good indication of what may happen in the future. Take a look at your past financial statements. We recommend examining the last two years of income and expenses (however, if you only have the prior year’s statements that is fine too). Look for trends, percentage increases/decreases in certain areas of income and expenses (variable expenses), and new expenses.

Tip: A quick way to locate prior revenue and expense information is by using your prior year’s income statement as well as budget-to-actual comparison reports. If you keep everything on Excel spreadsheets use the last month of your fiscal year’s income statement.

Present

Run a year-to-date income statement to review revenue and expenses from the beginning of your fiscal year to the present. It’s important to have a current understanding of your business to be able to have a forward look into operations for the years ahead.

Review for changes and evaluate if the percent of change is similar to prior years. Since you’re reviewing year-to-date information, this is a good time to create a forecast for the remaining months of the year. This will be really helpful for ensuring that next year’s budget is as accurate as possible.

Future

Evaluating your past and present financials will provide a great basis for next year’s projections. You are able to determine educated assumptions to provide you with solid and substantiated revenue and expense projections for the next year’s budget. Additionally, you take in account major expenses and income that you believe will occur in the new fiscal year, upcoming changes in insurance fees (and other areas that usually fluctuate from year to year).

Estimate

Budgeting can be overwhelming for some, but if you keep in mind that it’s not going to be perfect, it will ease the frustration a little. Budgets are estimates based on what you believe your business will do in the future. You determine these estimates by reviewing the past, present and future operations. In addition, take into consideration goals and objectives of your business, resources, market, etc. Then provide justification for your assumptions.

Note: This is a simple basis for introducing entrepreneurs to the budgeting process. Please remember that before embarking upon doing your budgets you must first establish goals and expectations.

I keep entrepreneurs and small business owners from going out of business! I do that by teaching them simple methods for taking control of their books, understanding financials, and budgeting effectively. They save money, frustration, time, and add to their bottom line when working with Simplistic Financials.

For more information on how to take control of your business financials visit Simplistic Financials.

There are a number of ways that financial improvements could be found in your business by simply keeping your books clean.  Let’s explore a few of those options here:

• If you’re currently not reconciling monthly bank statements…start now.  Banks can and sometimes do make mistakes and those mistakes can cost you money over time.  Monthly reconciliations allow for catching any unexpected bank fees, erroneous or unauthorized charges and unusual pattern changes in account withdrawals. 
• Good accounting records yield good financial data used in financial reports.  This in turns aid in being able to manage the finances of your business efficiently.  Proper money management saves you money, provides better insight into your finances which ultimately leads to making better decisions operationally.
• If you use an accountant for any form of accounting services, but you don’t keep clean accounting records, you are more than likely spending more money than you need too.  Why?  Take for example your utilizing your accountant for tax services: if your records aren’t in order or in good shape it takes that much more time for your accountant to get through the paperwork.  More time equals more fees which costs you more money in the long run and in turn limits your business’s cash flow.  Keeping accounting books clean from the start and preparing as much documentation as possible on the front end saves you money.

 

I keep entrepreneurs and small business owners from going out of business! I do that by teaching them simple methods for taking control of their books, understanding financials, and budgeting effectively. They save money, frustration, time, and add to their bottom line when working with Simplistic Financials.

For more information on how to take control of your business financials visit Simplistic Financials

Microsoft Access is the database component of the Microsoft Office Suite. It can manage millions of records and data within its software. If you have never used MS Access 2003, you may be intimidated by this software. To help with the learning curve, create a database with the vast number of free access database templates that are available. The templates provide a the foundation of a functioning database that the user can open and dissect to see the correct way to format and create a database with MS Access 2003.

Selecting an Access Templates

Open Access 2003 and select the File drop down menu. Click New. In the right task pane, review the New options. Notice the template section. Select the template that fits your project needs. The templates are adaptable and you can change the default tables, queries, forms, and reports once you make the selection.

• Click the On My Computer option.
• Click the Database tab. Notice the 10 available templates. Select one and click OK.

 

The File New Database dialog prompt appears. This is where you will type in the name of the database and select the location of the database. Select a location by clicking the upper Save In drop down list. Select a location that you that will be used for the database. In the File Name section, type a name for the database and click Create. The template opens.

The Access window is divided into toolbars, objects, and groups. The toolbars let you open new and existing objects, open objects in design view, create new objects, and change the view of objects in the Access window.

The objects are the tools you will use to add and manipulate data in the database.

1. Tables are used to add data to the database.
2. Forms are used to add data to the database. Use them to create user friendly interfaces to add data to the database.
3. Queries let you question the inputed data. Use when when you need to see a segment of the database without viewing the entire database.
4. Reports are used to extract data out of the database. Use them when you need a hard copy of tangible data that resides in the database.
5. Pages are web pages created from the database the keep a connection to the database.
6. Macros are short codes that you can create to automate different features in the database. Example of macros could include maximizing a form, opening a form, closing the database, or running a report.
7. Modules are VBA code written in the database to automate different features.

 

Access Database Templates are available in the Microsoft Access 2003. Open them with the New option and adapt the access database templates to your project needs!

Search for ==>  info on Access Database Templates on Amazon.com NOW!

Printable blank calendars are readily available on your computer. You can use them for your projects and tasks. They are available as calendar templates. These template galleries are located in your computer applications and online template galleries. The best part is the cost…they are FREE! The only requirement to search for these templates is an active live internet connection.

How to find calendar templates in Excel 2010?

Open Excel 2010 and select the File tab. Select New. Select the Calendar category in the left task pane. Select a calendar subcategory and review the available printable blank calendars. Preview the calendar by clicking the image. The preview appears in the right task pane.

Download the printable blank calendar template by clicking the image and the right download button. The template opens in to Excel 2010.

Print the calendar by clicking the Print icon on the Quick Access Toolbar.

How to find printable blank calendar templates in Excel 2007?

Open Excel 2007 and select the Office button tab. Select New. Select the Calendar category in the left task pane. Select a subcategory and review the available templates. Preview the template by clicking the image. The preview appears in the right task pane.

Download the blank calendar by clicking the image and the right download button. The template opens in to Excel 2007.

Print the calendar by clicking the Print icon on the Quick Access Toolbar.

How to find calendar templates in Excel 2003?

Open Excel 2003 and select the File menu. Click New. In the right task pane, type Calendar in the search box. Click the Go button. A list of available templates appears.

Click any of the available templates to see a preview of the template. The preview appears in a separate window in Excel 2003. Click the Next and Previous button to see additional calendar templates.

Download the template by clicking the Download button. The template opens in your Excel window.

Print the calendar by clicking the Print icon on the Standard Toolbar.

Use Printable Blank Calendars for your calendar needs. Use templates to quickly find printable blank calendars!