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5-step plan to creating a business budget, by small business accountants in Melbourne

If you’re a new business owner or just wanted to learn how to budget for you business then this is perfect for you! Our small business accountants in Melbourne have a 5-Step plan for you to follow.

Our 5-Step Budget Plan include:

1. Tally your income source: A good start to budgeting your business is to figure out how much money you bring in on a monthly basis
2. Determine your fixed costs: Your fixed costs are expenses that are charged every month at the same price
3. Include variable expenses: Items that don’t have a fixed price are called variable expenses and need to be recorded each month depending on the state of your business
4. Predict one-time spends: This is when you factor in one time payments for stuff your business may need such as a car, computer etc.
5. Put it all together: Now you form yourself a handy checklist for your business so you create your budget plan with the correct figures and know how much to spend

Business accounting in Melbourne when you first start out is quite difficult especially trying to manage your money, but when you get a proper budget in play it becomes a lot easier.

Contact our small business accountants in Melbourne to help you with your budget plan!