EP 14: Generating a Monthly Budget Using Xero with Steven Briginshaw

Today’s Guest

Steven Briginshaw

Steven Briginshaw is an international bestselling author, speaker, award-winning entrepreneur & business mentor. Steven’s mission is to revolutionising accountancy, small business & business education to give existing and future entrepreneurs what they need to help solve meaningful problems & build purpose led impact-making businesses. He’s a former chartered accountant & has worked with small businesses since 2000.

How to Generate a Monthly Budget Using Xero

Step 1: Understand where you want to be.

Step 2: Exporting your current accounts data to a Microsoft Excel document.

Step 3: Use the figures from last year as a base for your budget for this year.

Step 4: Budget for your overheads – fixed costs.

Step 5: Budget your variable costs.

Step 6: Review your gross profit and adjust to reflect business goals

Step 7: Save the excel file and import it to Xero as a budget for the next period.

Step 8: Review, tweak, rinse and repeat.

Bonus Step: Create a one-page financial overview to aid in analysis.

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