You may need to adjust your budget during the year, perhaps due to a wage increase or additional expenditure. Personal Budget Template Instructions Adjusting your Budget If you are part of the way through the month, the difference will show the amount of money you should have left to spend or receive. It is easy to see and overspending or savings that you have made. The actual v Budget worksheet shows the whole year with the budget, actual and difference. There are a couple of places to review differences each month at the bottom of the worksheet, there is a total for the month, budget and difference. Comparing Budget to Actual FiguresĪt any time, you can look at the comparison between budget and actual amounts. IMPORTANT – as you go along check the balance is the same as the bank statement – this ensures everything is entered.Ĭontinue to enter your figures for the rest of the month. The figure will post to the correct column. Use the drop-down list to select the best category. Details required are the date, customer or supplier name, any reference you want to add (can be a good reminder as to what it was for) and amount. Using your bank statement, enter each item on a new line. From now on, this will be the figure from the previous month. At the top, you will see the bank balance brought forward this is the balance entered on the instruction page.
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Open up the tab for the month you wish to commence. Once everything has been set up, you are ready to start posting your actual Amounts. If you are a small business running from April, use our spreadsheet here. If you are starting partway through the year, you only need to enter the months remaining, e.g., if starting in April only post April to December. Enter each of your budget figures against each category for every month. On the left, you will see the categories that you entered previously. As a business, you may have some months that have fluctuations if you know when these are, enter your expected figures. You may know of additional expenditure during the year like car MOT or car service, holiday, Christmas Birthdays, etc. The best way to set the budget is to look at a couple of months of bank statements and take the figures from there. Setting your budget allows you to see if you are overspending or underspending during the year.
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Personal Budget Template Instructions – Setting Budget These are named income 1, income 2… And can be renamed to suit your needs. On the Categories tab, you will find a list of 5 income codes and 13 expenditure codes. Add your business or personal name this will post it to the top of each page.ĭecide what date you want to start posting your bank transactions from if it is 1st January choose the month of January and enter the opening balance from the bank statement for the 1st of January.Įverything is all ready to get started. On the instructions worksheet, you need to complete the green boxes.
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There are a few simple things that need to be entered to start.
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