BREAK IT DOWN.
- Separate budgets into categories to make estimating easier.
- Make realistic predictions of required resources for each category.
- Create spreadsheets to capture budget details. Use the calculating functions for accuracy and to make it easier to adjust the budget.
SUMMARIZE AND EVALUATE.
- Organize budget details so they can be summarized by category and time period.
- Analyze the results of your predictions. Make adjustments where needed.
- Print out summary and category detail reports. Staple the summary to the front of the detail pages. Use a Colored Expanding File to organize budget reports for an entire year. The dividers keep reports separated by month and quarter.
- Keep the budget file in a file drawer with the flap open. Close the flap when transporting the file.
MONITOR AND COMPARE.
- Review the budget regularly to compare actual figures with your budget predictions.
- Print periodic summary reports. File in the appropriate section of the expanding file.
- Make adjustments if actual figures vary from budget expectations. Submit for approval if needed.
Components of this Organomics Idea include:
- Colored Expanding File
Learn more about these Organomics ideas:
Budget record basics – finding the right balance