Newsletter Budgeting

 



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Some helpful insight - A monthly newsletter form Robert Reinert Consulting

Budgeting



Budgeting can be the means to survival and success:

 

What happens when there is a water leak and you don't stop it?

We all know the reservoir containing the water runs dry. It is the same picture with money as with water. Budgeting is the means to stopping money leaks. It paints the picture of historical and future inflows and outflows of cash. If you budget you survive. Midyear is a great time for budgeting.

 

 

Success Budgeting:

If you want to succeed with your personal financial goals or your business you must know your budget. Putting together that budget is best performed by experts like Robert Reinert Consulting CPA. We have the experience of budgeting for individuals and businesses.

 

Key features to budgeting!

A detailed line description of each real source of cash income and outflow is presented in a row format with a column for each month of the year. Each month provides total incoming and outgoing cash. This is used as a guide to what is expected to occur for the current year. It can also be prepared on an accrual basis as well, however that approach is not recommended for small businesses or households.

 

Once the budget is prepared:

You will update each passing month with actual results. This process provides real guidance for where unanticipated outflows and shortages of inflows occur and how they impact available cash supplies. Indicating which month’s shortages will occur can prepare you for potential borrowing requirements. It alerts you to insufficient income levels. Which will initiate the elimination of certain outflows. It protects against financial ruin. Using your Outlook Calendar or other Calendar for dates and amounts bills are due is a great way to alert you.

 

How the budgeting process works?

You set up a meeting with your CPA who will direct you to bring along with you a list of items that will be used to prepare the budget. Your CPA will have a number of questions for you so the projection for the current year can be accurately completed. Once the budget is prepared, you must review what the CPA has done and follow up with questions to identify the areas that you can improve and what steps you need to take. The budget is only as good as the thought that goes into preparing it. It can be a powerful guide to how better to monitor your spending habits and improve on wealth building and vacation planning or any number of activities requiring cash expenditures. 

 

Prepared by: Robert Reinert, CPA



Visit our website to contact us today so we can prepare a budget for you or your business! Visit our Website 

https://www.rreinert.net/


43221 La Scala Way, Indio, CA, USA

760-342-0913

 

You can sign up with me online 

 

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