Budget is defined as a financial plan for a period of time, usually a year which may also include planned sales volumes and revenues, costs and expenses, resource quantities, assets, liabilities and cash inflows, and outflows. Companies, governments, families and other organizations use it to express strategic plans for activities or events in measurable terms. But no matter how small or big a business is, it must have a budget and forecasting done for a period of at least 12 months and it must measure actual vs budgeted aspects and take corrective measures as well and look for areas which can increase the potential of the business. Budgets and forecasts can strengthen management’s control of operating cost and have a significant impact on the overall productivity and efficiency of the organization.
In order to respond quickly to the competition, it is critical that you monitor your progress towards goals, control spending and predict cash flow and profit as accurately as possible. Now, to make this possible for all sorts of business in all sorts of industries, we at whiz consulting are there to help you out. You can outsource your budgeting and forecasting to us especially because we have combined experience of decades in budgeting and forecasting and can help prepare a budget as well as forecasting reports for your business, as close to reality as possible. You can outsource your budgeting and forecasting to the experienced and qualified team at Whiz Consulting and you can be sure that we have included the latest industrial trends, your business capacity, past records and prepare a realistic record in line with your vision for the business.
Benefits of Budgeting
- Provides a Benchmark of Evaluating Performance against Financial Goals and Objectives
- Helps an Organization Allocate Financial Resources between various Operating Groups
- An effective Communication Tool used to express Financial Goals and Objectives of the Organization
- Align Spending to your Priorities with Accurate and Timely budget-to-actual and budget-to-forecast reporting, Enabling you to quickly respond to Variances
Benefits of outsourcing Quicken Accounting services
- We customize Quicken accounting software to match your specific requirements, so that you derive the maximum benefit from it.
- We do financial data entry, data validation and data cleansing to give you clean and accurate data. This is essential to fully leverage Quickens features as a powerful financial planning and information tool.
- We can help you with account reconciliation of your innumerable accounts – checking account, savings account, investment accounts, and credit card accounts each month.