Free Weekly Budget Template
The weekly budget template helps to keep track of daily expenses and income for any business. Daily income breakup and expense breakup are shown in the template. So the accountant will have to fill up daily data from receipts or bills received during daily operation. The weekly budget template will show the summation of daily data on a weekly basis and will also show the average of it.
About Weekly Budget Template
- The list is not exhaustive. One can add items according to their personal requirements.
- The weekly budget template is very important to analyze daily income and expenses. Daily income like interest income can be seen is 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 is earned on Sunday. So the sales of the product increase on Sunday. Sundays or holidays can be taken as big sale days.
- The total average profit is 2328. Profits from Monday to Thursday are below average and profits on weekends are above average which has pulled the average as high as 2328 daily.
- A daily profit of 2328 will help the business to manage its daily expenses and whether it can plan to take new projects incurring fresh investments. Fresh investments can be paid if the profits are sustainable. A snapshot that shows daily expense and income breakup will give a proper picture of what actually goes into the business on a daily basis.
- The weekly estimation will help to understand whether the business is moving in line with prediction. Weekly sales have gone down by $7,000 from estimation. 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 is not being able to do proper bargaining with the suppliers.
- Transportation cost is below estimation, so this is a positive sign. Daily transportation costs and other costs will help to do the proper estimation of what actually goes into the business for its daily operation.
Mr. X runs a manufacturing company and wants to prepare weekly estimation of the total inflow and outflow.
He can easily use the weekly template which will help him to have an idea of the daily expense that is incurred in the business and also the idea of the daily income. This idea of income and expense is very important for the proper running of the business. If the business is planning to expand, then this daily picture will show the true picture of whether it will at all be possible to expand the business.
How to Use this Template?
- The weekly budget template is fitted with formulas. One needs to just plug in the actual income and expenses. In the top section where profit and loss are reflecting, the daily income and expense will be automatically pulled from the summation tab of income and expense. The differences between actual and estimate will be calculated automatically. The average column is also formula fitted and will be calculated automatically.
- The average column will help a person to understand the daily income or expense and if the average income is increasing week on week then it is a good sign for a healthy business.
This has been a guide to the Weekly Budget Template. Here we provide you with a free weekly budget template that helps to keep track of daily expenses and income for any business along with an example. Also, you can download and use this template in Excel, PDF or in CSV format.
You can also take a look at our other useful articles-