Best Business Tracking Solution Download FREE Yearly Budget Templates in Excel
Budgeting is not only a good business practice but it is also a form of a critical tool for ensuring a great ongoing financial stability. However, even though it has been repeatedly proven that creating a budget plan is essential for any kind of business planning or financial planning, knowing and doing are two separate things.
As simple as it sounds, it is undeniable that budgeting can be a daunting task for it requires a lot of time and accurate analysis. But not all business-minded people are good with building a budget plan, as such, there will be cases that a budget plan can be quite lacking in some factors. However, this doesn’t mean that there are no other options since it’s the age of technology after all. There are a lot of available resources that one can take advantage of simply by downloading a tool for budgeting.
Creating a dynamic yearly budget plan is made easy now by simply downloading a yearly budget template in Excel. There are, of course, different types of budget plan to consider for your own budget plan such as the following:
1. Master Budget – a much more comprehensive budget where it encompasses the whole business operations and various departments. This budget is best for having an overview report to allow the planning of the business’ future and cash flow needs.
2. Zero-based Budget – a type of budget where the starting point is zero for each period and simply ignores the historical financial data. This budget allows the user to look at each department and their needs bottom-up and ensures an accurate estimation of budget for operations.
3. Static or Flexible Budget – these two budgets are the opposite of each other; static budget stands for having a budget that is fixed and unchangeable despite the changes in other factors, while the flexible budget is a budget that can be adjusted accordingly based on the changes in the elements of a budget.
4. Rolling Budget – this type of budget is also known as continuous budget where even if the budget period expired, the earlier period is then updated or “rolled” in this case, to the new and current period. This budget plan allows the updating process much easier and less time-consuming.
To learn more about the topic above, you can read more in this article: Yearly Budget Templates in Excel. You can also download yearly budget templates for free as recommended within the article. Of course, if you’re looking for other financial model templates for different industries and use cases, you can download them at eFinancialModels, a platform which provides a wide array of financial model templates created by financial modeling experts with a vast experience in financial modeling and deep know-how. Download model templates for budgeting here: Budgeting.