Your monthly budget should include8/2/2023 ![]() If you invest some time in creating a comprehensive and realistic budget, it will be easier to manage and ultimately more effective. There are a number of key steps you should follow to make sure your budgets and plans are as realistic and useful as possible. Successful businesses often have a rolling budget, so that they are continually budgeting, e.g. When you've made a budget, you should stick to it as far as possible, but review and revise it as needed. You can see if you are likely to have cash flow problems, giving yourself time to do something about them. You can look at costs and work out ways to reduce them. Once you've got figures for income and expenditure, you can work out how much money you're making. See the page in this guide on planning for business success. Your business plan should help in establishing projected sales, cost of sales, fixed costs and overheads, so it would be worthwhile preparing this first. Don't forget to add in how much you need to pay yourself, and include an allowance for tax. Your business may have different types of expenses, and you may need to divide up the budget by department. legal and professional costs, including insurance.wages, benefits, Québec Parental Insurance Plan (QPIP) premiums, contributions to the Québec Pension Plan (QPP) and to the financing of the Commission des normes du travail (CNT) ![]()
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