Podcast Episode #14
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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