Budgeting is the process that is more effective to keep your finances and business on track. It helps to outline the operational & financial goals. Once the business is set up then budgeting becomes the regular task as you need to budget on a quarterly or annual basis. The Budget provides an accurate picture of expenditure & revenue which is important for business decisions. With budgeting, it is useful to control the finances and able to fulfill the current expenses.
A Business should have money for future projects and this can be done through budgeting. If you will run the business without a budget plan then you will not able to meet the long term goals. Your accountant or bookkeeper will help you prepare the budget so that you will be able to evaluate the time frame, variable and fixed cost & income in the business.