{"id":620,"date":"2016-02-10T08:47:32","date_gmt":"2016-02-10T08:47:32","guid":{"rendered":"http:\/\/magnetgroupng.com\/Blog\/?p=620"},"modified":"2017-05-30T17:07:25","modified_gmt":"2017-05-30T17:07:25","slug":"budgets-and-control-for-small-business","status":"publish","type":"post","link":"https:\/\/magnetgroupng.com\/Blog\/blog\/budgets-and-control-for-small-business\/","title":{"rendered":"Budgets and Budgetary Control"},"content":{"rendered":"<p>Budgeting is the process of creating a plan to spend your money and how you want to make money for your business. This plan lets&#8217;s you have an advance view of how your business will performance so that you can align current realities &#8211; expenses and income &#8211; to expected result.<\/p>\n<p>In a situation where you don&#8217;t much cash to spend, the planning processes help you prioritize your expenses by focusing on cash-generating\u00a0expenditures.<\/p>\n<p>Why is Budgeting important for your business?<\/p>\n<p>Since you are only working with limited resources, budgeting:<\/p>\n<ul>\n<li>ensures you don&#8217;t sway by unexpected expenses<\/li>\n<li><strong>you have a benchmark upon which performance is measured with.<\/strong><\/li>\n<\/ul>\n<p><strong>Steps to Build a Budget that works<\/strong><\/p>\n<p>You don&#8217;t have to comb through your excel or paper records to create a workable budget, there are reliable accounting software that can help you create a financial plan and do a real time comparison with actual transactions.<\/p>\n<p>For instance, QuickBooks allows you to create a budget from scratch or build one from previous year actuals. Depending on whichever options you select, you can proceed to the next step by:<\/p>\n<ul>\n<li>Starting with what you want to spend by reviewing your expenses line items<\/li>\n<li>Projecting your sales revenue and other income sources<\/li>\n<li>Track \u00a0your business performance and instill control where necessary.<\/li>\n<\/ul>\n<p>For more information on how we can help you set-up QuickBooks, call 01-4542116<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Budgeting is the process of creating a plan to spend your money and how you want to make money for your business. This plan lets&#8217;s you have an advance view of how your business will performance so that you can align current realities &#8211; expenses and income &#8211; to expected [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":653,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-quickbooks"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/posts\/620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/comments?post=620"}],"version-history":[{"count":3,"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/posts\/620\/revisions"}],"predecessor-version":[{"id":624,"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/posts\/620\/revisions\/624"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/media\/653"}],"wp:attachment":[{"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/media?parent=620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/categories?post=620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/tags?post=620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}