Fact #1: In our personal lives and in our businesses, we all need a budget.

Fact #2: Setting a budget is officially not fun.  (Unless you’re a bookkeeper or CPA.  We think it’s really fun and essential.)

Budgeting for your coming fiscal year – or the remainder of the current fiscal year – is crucial to the success of your business.  It helps you forecast earnings, expenses, and everything in between.  By looking at your P&L statements from previous years, we can pick up on patterns that can help you budget for the future:

• Anticipate peak sales periods, so you can adequately plan for labor, raw materials, etc.
• Notice slower periods and budget a higher marketing budget to drive more sales.
• Dig deeper into months where expenses could be cut back.
• Review marketing expenditures to determine if the investment provided a large enough return.
• Plan for any seasonality that could affect your business.
• Determine the best times to schedule a vacation.

You get the idea.  At Harvest Tax & Accounting, we can provide insights to help you make the most profitable choices possible.  And once we create your budget, it should be reviewed monthly to make adjustments as needed.  A truly useful budget is always being tweaked based on market conditions, sales, what’s in your pipeline, and many other factors.  But, by creating a budget at the beginning of the year, you at least have a roadmap that gives you a starting point.  Then, you can make adjustments as needed to have the greatest impact.

To make the biggest impact in your business, let’s start on your budget today.  To schedule a free consultation, start here.