Thursday, 20 April 2017

Why you should plan budget for your company?

Accounting in India

A budget helps you build out your long-term goals and work towards them. There are various reasons why a business should prepare a budget…..
1.     You need to know how much cash you need to support the growth or lack of your business & company.
2.     You need to budget your costs so that someone in the business can keep them under control.
3.      If you don’t aim for a sales or profit figure, it is highly likely, you or your team don’t have a clear idea of where the business is going.
4.     Doing a sales budget gives you an idea of how realistic your sales growth is. If a sales target has been produced by a salesperson – watch out, it will often be wildly positive. Sense checking this will you more of a reality checks.
5.     It is likely in the year of a growing business that you will have to recruit. Your budget should tell you the cost of this and also the cost of not recruiting quickly enough.
6.     Comparing your budget to your actual performance will give you a better idea of your profit margins.
7.     Yes, your budget will not be 100% accurate. How can it be? However, it will be more accurate and you will be in a better position to predict your future if you spend the time planning your finances.
We provide all sorts of Accounting Services, contact us on: http://bit.ly/1VW7Itu

We can help you in any Accounting services for your business.


Please feel free to email our team at E: info@raaas.com,  also reachable on Direct numbers +91 9810158561, +91 9811568048. For more information visit our website:- http://www.raaas.com.

No comments:

Post a Comment