Budgeting & Forecasting
Budgeting and forecasting is an important part of planning for your business. It involves the use of historical information for future planning, to improve the growth of your business.
This aspect of your business doesn’t just rely on your finance team, but other departments including sales and marketing, for the analysis of data such as sales and industry trends as well as customer traffic. Future performance can be projected on the basis of accurate historical information.
From this data, we are able to create a budget outlining the projected growth in profit for your business, and by using accounting software packages we are able to compare the budget with actual data for every period.
By regularly analysing the budget versus actual performance, the budget and forecasts can be adjusted accordingly to provide more accuracy.
