Weekly Budget Template

The weekly budget template helps track daily expenses and income for any business. Daily income breakup and expense breakup are in the template. So, the accountant must fill in daily data from receipts or bills received during daily operations. The weekly budget template will show the summation of daily data weekly and will also show the average of it.

• The list is not exhaustive. One can add items according to their requirements.
• The weekly budget template is critical to analyze daily income and expenses. Daily income, like interest income, can be seen fixed here. After seeing this, one can guess that interest income is fixed because the source where the money is invested is reliable, and it is reliable.
• After studying daily profit, one can see that the maximum profit earned is on Sunday. So the sales of the product increase on Sunday. Therefore, Sundays or holidays are big sale days.
• The total average profit is $2,328. Profits from Monday to Thursday are below average, and on weekends are above average, pulling the average as high as $2,328 daily.
• A daily profit of $2,328 will help the business to manage its daily expenses and determine whether it can plan to take on new projects incurring fresh investments. One can pay fresh investments if the profits are sustainable. A snapshot that shows daily expenses and income breakup will give an accurate picture of what goes into the business daily.
• The weekly estimation will help to understand whether the business is moving in line with the prediction. Weekly sales have gone down by $7,000 from estimation. However, the rest of the incomes are all above the estimation. So, the firm will have to work on its sales.
• Material cost is more than a prediction. It could be that material cost has increased, or the firm needs to be able to bargain properly with the suppliers.
• Transportation cost is below estimation, so this is a positive sign. Daily transportation and other costs will help to properly estimate what goes into the business for its day-to-day operation.

Mr. X runs a manufacturing company and wants to prepare weekly estimations of the total inflow and outflow.

He can easily use the weekly template, which will help him to have an idea of the daily expenses incurred in the business and the daily income. This idea of income and expense is essential for the proper running of the business. If the business plans to expand, this daily picture will show the true picture of whether it will be possible to grow the business.

• The weekly budget template fits with the formulas. First, one needs to plug in the actual income and expenses. In the top section, where profit and loss reflects, the daily income and expense automatically pull from the summation tab of income and expense. The calculation of differences between actual and estimate will happen automatically. The average column is also formula-fitted, and the calculation will happen automatically.
• The average column will help a person understand the daily income or expenses. For example, if the average income increases weekly, it is a good sign for a healthy business.