Hi. I have a webhosting site that has been running for a long time. Now I think it's time for me to do the dirty work and make a good budget. I've never bothered to do it and I can see now why that was a bad decision. I have no idea how much I've spent and how much I've earned trough the time. Only my WHMCS script can tell me that.
And I've tried to setup a real budget but I have no idea how to do it. Should I include everything from the 2 years from I stared (Would be massive work...) or just start from 1. January with all income and all outflow?
I have bought "You Need A Budget", but I find it hard to import the Paypal report, as YNAB wont take the CSV PayPal created.
Should I just stick to Excel for the budget?
I don't wanna make a budget where I plan for the feature. But I want a budget that can tell me how much, where and what I've spent my money on. And to tell me how much I earned in July, or any other month.
How do you create your budget?
As I have multiple things that costs money, and I would like to keep track of it. And soon I'll need to have it documented how much I've earned and what I've spent. To get tax money back, and to show how much am going to pay in taxes.
@OP, budget & actuals are two very different things. From the sounds of it you're more interested in knowing your Sales + Expenses to see what type of Profit (or loss) you're generating in your business. If so, you can do this manually in Microsoft Excel or use a general ledger solution like Quickbooks, Peachtree, etc... Depending on how big your business is, you might be able to use solutions like Excel. You can pull down your monthly financial report from PayPal, 2Checkout, Authorize.net (whoever you use as a merchant) and then add any additional bank, credit cards, loans etc..
If you start to purchase your own equipment or do long-term deals you might want to go more advanced an use a balance sheet, cash flow, income statement, etc...
A budget is merely to help you meet your expectations of what you think you can spend, or need to spend, to hit a certain target. I think it would be difficult to set a budget without having some actual results to look at to base your budget off of.
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The type of budget you create will depend on your needs. In the end, what is essential for you to track and manage in order to guarantee that you are capable of viewing the financial health of the business? It would be smart to take the time and evaluate the expense of everything within your business. If you operate for 8 hours a day, how much does it cost for every computer to be used, is just an example. Calculate the space needed and how much rent that one location requires. How much electricity does it consume on a regular basis and what does it cost per hour, or even minute to run that computer. Once you understand the exact expenses of everything, you can begin to calculate exactly how much you will require in income in order to keep the lights on, and how much growth you need in order to financially build the business. Then you can project forward for increasing and improving your revenue streams.