Professional Accountancy For Your Business
Whether you are a new start-up business or an expert, it is essential that you budget and forecast your spending in order to survive amongst your competition. Although some people use both terms to mean the same thing, there is a clear difference between the two. At Gray & Co Dan Ltd, we are here to help you reach your financial goals.
For more information about our budgeting and forecasting for businesses in Bury St Edmunds, call us on 01638 715 534.
Protect Your Budget with Forecasting
A budget is a projection of all outgoing expenses over a certain period of time which is created before that set certain timescale. They are usually all made on assumptions that include external aspects such as market conditions. Budgeting can help a business keep control over its cash flow and make sure it is the best it can be to benefit them in the long run.
A financial forecast is a conservative estimation purely on how much sales you think your business will achieve in the upcoming year. This can be based on the revenue of the previous year and take into account how this can play out by either improving or decreasing.
It is vital that all companies follow these practices and use at least one of these methods of business planning. This is why Gray & Co Dan Ltd offer these services to you so that you can concentrate on running your business and preparing for its future.