Consulting Budget
This Consulting Budget template for a worksheet is used by an HR Consultant to budget and track revenue, expenses, and cash flow. It's created to work for independent consultants or sole practitioners where personal expenses are closely tied to the profit and loss of your practice.
Overview
Having a consulting budget is essential for any size consulting practice. A budget worksheet helps you decide whether you can grow your business, give yourself a raise and purchase additional inventory and assets.
For those who are just starting a consulting business, or thinking of starting a consulting business, you may be interested in this Consulting Budget template. A start-up cost analysis is an important part of a good business plan and can help you get things off the ground before you begin using a more detailed business budget.
This excel workbook is set up to track the following components: client names, expenses, monthly totals, total expenses, MO profit/loss, personal expenses, monthly net, user overdraft, other cash, cash balance, and annual tax accrual.
Why Use the Consulting Budget template
- To forecast your revenue and expenses.
- To forecast and manage cash flow.
- To take into consideration your personal budget and costs and how it relates to your profit and cash flow.
Benefits of the Consulting Budget template
Keeping an up-to-date spreadsheet of revenue and expenses allows you to:
- Quickly identify areas of financial concern, so that you can address them in a timely manner.
Download the Consulting Budget template
Download the Consulting Budget template! This template is included in the HR Consulting Kit, a comprehensive kit that features templates & best practices to set up & manage your HR consulting practice.
Tips for working with the Consulting Budget template
- You can manually reset your cash flow numbers if you want to forecast your profit/loss for the year going forward. Example included after purchase.
- If you have no idea how much you need or how much you spend each month for personal expenses, now's a good time to begin tracking them. Invest in money management software such as Quicken and download your transactions from your bank and credit card every month. What gets measured gets improved!