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Hi. My name is Terry, and I'm the President of Quicksilver Accounting & Consulting,  Wilmington NC.

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« QB Connect, San Jose CA | Main | Need cash now? What small business doesn't? »
Thursday
Oct222015

Budgets are like squirreling away cash for the future

Just like this fellow, we all need to plan for the future. I can't think of a better way to get your business ready for 2016 than to start a budget.  

The process helps you review your current income and forecast what revenue (how many nuts will this red squirrel have to collect?) will be earned in the next year. Then look at expenses and determine what is required (how many nuts will he eat each day?) to give yourselves a comfortable reserve (net profit).

October is the perfect month to start this process, and when you have covered everything,  don't forget to put the information into your financial software so you can compare actual vs budget each month.  You will spot trends much faster and be able to cut expenses earlier by running this important report. 

For Quicksilver's clients, the next step would be for us to add LivePlan Software to track your forecast and study your KPI's , all in one convenient place.  

Don't be left out in the cold without a plan! Warm and fuzzy beats cold and hungry every day.    

 

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