Revenue refers to the income side of a business, organization or government agency.
A budget revenue report evaluates all the revenue streams from the previous fiscal year. It evaluates product lines, services and other items of revenue for potential increases for completing the next fiscal year budget. Some companies practice this endeavor on a quarterly basis and make budget adjustments as necessary. Obtain the previous year's actual income and expense information along with the previous year's budget.
While the revenue report specifically examines revenue, in private business it can include expenses to ensure income covers expenses and leaves a How To Write Budget Report. In government agencies, revenue should be enough to cover expenses and leave room for contingency funds and programs. Use a spreadsheet program to categorize here various forms of income that could include income from sales, services, advertisements, rents, royalties, taxes or products.
Make two columns, one for budget and one for actual. If you are making recommendations for the upcoming budget, add a column for recommendations as well. Develop an individual worksheet for each month and tabulate the various months into a summary spreadsheet for the year. Input the data into the spreadsheet. Total the various income or revenue streams. Subtract the actual income from the budgeted income to determine how accurate the budget was. Negative numbers indicates that you received more income than budgeted.
Add expense categories and expenses into the spreadsheet after all the income has been added. Include a column for budgeted expenses and one for actual. After adding the expenses to the spreadsheet, calculate the gross margin by subtracting the total for expenses from the total for income.
If the number is a negative, income was not sufficient to cover expenses. In areas where expenses were greater than income, suggest cutting back or eliminating expenses when working on the new budget. Again, subtract the actual expenses from the budgeted ones. Check for errors to ensure the accuracy of the data entered into your spreadsheets. Compare your spreadsheets against the information from the accounting department to verify spreadsheet accuracy.
How to Create a WRITTEN Budget!
Analyze the data found on the spreadsheet by noting areas of concerns; areas where income far exceeded expenses or categories where expenses exceeded revenue. Also include your observations on how accurate the previous budget was, and whether or not changes might be needed when calculating the next budget.
For example, note areas where revenues or expenses were significantly greater or less than budgeted. Develop a report that highlights and summarizes your findings.
Be clear and succinct so that others may easily understand and follow your information. If you make any assumptions of fact, be sure to indicate in your analysis the assumptions you noted. You might want to start with a summary of findings and then provide detailed information by bullet point.
You might want to add charts or graphs created from the spreadsheet into your budget revenue report. Include any references or outside sources used in your comparative analysis.
Revenue refers to the income side of a business, organization or government agency. A budget revenue report evaluates all the revenue streams from the previous fiscal. Learn how to create accurate, up-to-date budgets in order to maintain control over finances and show funders exactly how your money is being used. Every business has a budget. Maybe it’s in your business plan, or maybe it’s just in your head. But having a budget is only half of the battle. To be effective. Budgets attempt to estimate the amount of revenue you anticipate collecting over a specified period. Even the most laboriously developed predictions vary from actual. A budget report will show where your company or organization financially stands. Quarterly reports allow you to track your spending and ensure that you are on track.
Develop a cover memorandum to the appropriate personnel including department managers or executive staff. Include key accounting personnel in the list of people to whom you send the memorandum and the report. Print your spreadsheets and report. Include the spreadsheets in the back of the report to show the detailed data if anyone is interested in looking at the information. Before making all the copies, proofread your report for any typos, misspellings, grammar, number or punctuation errors.
Once you've made any corrections or the report is free of errors, place your report in a professional folder.
Make enough copies for everyone on the list and one for your files. Initial the memorandum next to your name and place the memo with the report into sealed envelopes.
Budget information is usually confidential at certain levels of the company, so you want to ensure that the information is kept private in its dissemination. Distribute the budget revenue report using interoffice mail. For personnel in other offices, consider sending an email with the attached memo and report and follow up with a hard copy in the mail. As a native Californian, artist, businessperson, contractor, journalist and published author, Laurie Reeves began writing professionally in She has written for newspapers, magazines, online publications and sites.
Inshe and her husband moved into the home she designed, they built and decorated. Reeves graduated from San Diego's Coleman College.
Apr 04, · A budget is a great way to take control of your finances and save for Write an Article Request a New Article How to Create a Working Budget. Budget Summary report. The Budget Summary displays the budget you have prepared using Xero’s Budget Manager in report format. Sample Budget Reports. Enter the Parameter for your report: COAS: 5 (Chart of Account) Budget Phase: LABR07 (for Fiscal Year ) While a budget report can be a detailed documentation, What Is a Budget Report? How to Write a Report for a Non Profit Organization;.
Skip to main content. Things Needed Spreadsheet program. Tip It might help to have someone in accounting review your report for suggestions or to vet it for errors. Warning Take your time to ensure the accuracy of your work. References 3 Accounting Coach: What is a Budget? Budget Revenue Report - Departments Recommended. About the Author As a native Californian, artist, businessperson, contractor, journalist and published author, Laurie Reeves began writing professionally in Suggest an Article Correction.