Time for action - creating a budget for your business
You are going to create a budget for the next three months to serve as a guide for your operations. Typically, investors, banks and other lenders will need financial projections for a longer period. As a minimum they will need one year projections which may go up to 3 to 5 years in many cases.
- From the menu select Actions | Budget | New Budget. A new budget screen will open.
- Click on the Options toolbar button. The Budget Options dialog will open. For this tutorial, we are going to select a beginning date of three months back. This is only for the purposes of this tutorial and will allow us to quickly run Budget vs. Actual reports.
- In the Budget Period pane, change the beginning on date to a ...