Ideas For Organizing Your Budget Records
A well-prepared budget is critical to the success of any initiative. Here are some ideas to help you organize budgeting paperwork.
Follow these three principles when organizing your budget information:
- Break it down.
- Summarize and evaluate.
- Monitor and compare.
You’ll have a greater likelihood of meeting your goals when you have taken the time to plan a workable budget. we recommend using a Colored Expanding File to organize budget records.
Break it Down
- Separate budgets into categories to make estimating easier.
- Make realistic predictions of required resources for each category.
- Create spreadsheets to capture budget details. Use the calculating functions for accuracy and to make it easier to adjust the budget.
Summarize and Evaluate
- Organize budget details so they can be summarized by category and time period.
- Analyze the results of your predictions. Make adjustments where needed.
- Print out summary and category detail reports. Staple the summary to the front of the detail pages. Use a Colored Expanding File to organize budget reports for an entire year. The dividers keep reports separated by month and quarter.
- Keep the budget file in a file drawer with the flap open. Close the flap when transporting the file.
Monitor and Compare
- Review the budget regularly to compare actual figures with your budget predictions.
- Print periodic summary reports. File in the appropriate section of the expanding file.
- Make adjustments if actual figures vary from budget expectations. Submit for approval if needed.