This optional EBMS module is not included on all versions of the EBMS software. Review the Features > Optional EBMS modules within the main software manual for specific instructions used to identify or add optional modules.
Budgeting is an important and necessary part of small business ownership. To begin with, lenders and investors are going to require a budget before they agree to partner with a company. More importantly, a budget can be a valuable tool to help the business owner meet goals and stay abreast of the financial condition of a business.
A budget is really just a financial plan. It can be as simple or as complex as you want it to be, although a certain level of detail is necessary if it is going to be effective. With that in mind, here are some tips to help you get started.
The EBMS Budget module is an important management tool used to project a plan for the New Year or additional future years. This projection becomes a guide to compare actual expenses and income to the projection or budget. The budget system can be used to project income and profits and create a comparison picture to measure the progress of the company.
The budget module within the EBMS system contains tools to set budget values in a variety of methods:
Manually created budget by month or year - Review the Creating a Simple Budget section for details.
Formulas based on percent of sales or percent of another expense - Review the Calculating a Budget Using a Formula section for details.
Budgets or based on previous years
Set formulas for a range of accounts - Review the Change a Range of Budget Accounts section for details.
Ability to create formulas and variables to calculate a budget value based on a combination of factors - Review the Advanced Features > Using Variables section for details.
Can import information from an Excel spreadsheet - Review the Advanced Features > Connecting the Budget to a Spreadsheet section for details.
Set budgets based on monthly values rather than annual totals - Review the Advanced Features > Monthly Budgets section for details.
Start with a simple budget and add complexity by using formulas and variables as needed. Continue with the following steps for details on the budget module of EBMS.