QuickBooks 2020 For Dummies

Chapter 12

Building the Perfect Budget

IN THIS CHAPTER

Checking out powerful tips for business budgets

Setting up and adjusting a budget

Forecasting your profits and losses

Projecting your cash flows

Reviewing QuickBooks’ Planning & Budgeting tools

I don’t think that a budget amounts to financial handcuffs, and neither should you. After all, a budget is just a plan that outlines how you intend to generate sales, how you should spend your money, and how you think you can best organize your firm’s financial affairs.

Is This a Game You Want to Play?

If you created a good, workable Chart of Accounts, as briefly discussed in Chapter 2, you’re halfway to a good, solid budget. (In fact, for 99 out of 100 businesses, the only step left is specifying how much you earn in each income account and how much you spend in each expense account.)

Does every business need a budget? No, of course not. Maybe you have a simple financial plan that you can monitor some other way. Maybe in your business, ...