Sales budget template

This template for a budget indicates estimated versus actual costs for individual items and automatically calculates the difference. Event budgeting templates itemize expenses, including costs for the venue, refreshments, entertainment and more, so you know where each penny goes.

For general use, try a wheel budget template. One of the more visual budgeting templates, the budget wheel is a fun way to see where your money goes. Every Excel budget template incorporates spreadsheet functionality, graphs, and customizable styles.

Explore premium templates Bring your ideas to life with more customizable templates and new creative options when you subscribe to Microsoft Personal monthly budget. College monthly budget. Personal budget. In creating a sales budget document, it is vital for you to identify the scope of the report that you want to deliver. Usually, the sales budget is reported annually, but that doesn't limit you to micro-manage your reach. You can freely choose to have your sales budget either monthly or on a weekly basis.

A comprehensive sales budget must entail a factual and thorough content. Start gathering the most important information that you can get to make your document valid. If you are running an existing business, it is recommended that you should track down all the past sales inventory reports.

Then, with the use of a planner, you have to outline all of your gathered data together with its corresponding figures and amounts. For you to keep track of your sales progress, you have to set a projected result in your sales budget. Although you want to raise your standards in establishing your business' revenue, you should also consider being realistic with the outcome. Basing on your previous sales, and the current state of your business' market, make the best forecast as to sales during the next budget period.

It is quite difficult to derive a sales forecast that proves to be accurate for any period of time, so an alternative is to periodically adjust the sales budget with revised estimates, perhaps on a quarterly basis. If this is done, the rest of the budget that is derived from the sales figures will also have to be revised, which can require a significant amount of staff time. ABC Company plans to produce an array of plastic pails during the upcoming budget year, all of which fall into a single product category.

Its sales forecast is outlined as follows:. Also, the sales manager expects that the company's historical sales discounts and allowances percentage of two percent of gross sales will continue through the budget period. This example of the sales budget is simplistic, since it assumes that the company only sells in one product category.

In reality, this example might have been a detail page that rolls up into the main sales budget, where it would occupy a single line item. It is not customary to include a calculation of cash receipts as part of the sales budget. Instead, the cash receipts are calculated for all of the sales and expenditures of a business as a whole, and are then summarized on a separate page of the budget.

Capital Budgeting. Effective Sales Forecasting. College Textbooks. Put simply, the sales budget shows the desired direction and goal of your company over the course of a year while the sales forecast shows how likely your sales team is to stay on track and reach that destination on time.

One of the most important things to keep in mind in preparing your budget is that it is realistic. This is done by taking into account both internal and external factors that will determine and affect sales numbers throughout the budget period.

Here are the steps to follow to create an actionable, accurate, and most importantly realistic, sales budget to help your sales team remain profitable. Sales budgets are most often structured as a quarterly budget with an annual total but they can also be set up as just an overall annual budget.

Have your current selling price of each unit or service on hand. If you have multiple products or services you will need the current selling price for each one. Also, if your company is planning on changing any sales prices later in the year due to increased demand, anticipated increases in the cost of materials, etc , have those new prices on hand as well. If you have been in business for some time now, this is your main starting point when creating a sales budget.

Make sure to gather sales data from the same period you will be using for your budget. Find and pull this data in your sales CRM. Most CRMs now make it easy to quickly pull these numbers. If creating an annual budget, pull sales data from the entire previous year. If creating a quarterly budget, pull sales data from that same quarter last year, etc. Benchmarks and sales data for public companies are available online.

You can also get industry-wide growth estimates and other important financial data from the U. Bureau of Labor Statistics. Whether you are a new company or not, using recent industry benchmarks can help create a more accurate sales budget.

Past sales numbers will give you a good foundation to start your sales budget. But, it is true that past performance does not always predict future results. That is why current market trends in your industry should also be a factor when preparing your budget. Whether sales are rising or falling in your industry, you should account for any current trends in your sales budget. Another example of a market trend to factor in is increased competitor saturation this year versus last which could cause a slight decrease in sales, even temporarily.

Take a look at how many sales rep your team is working with going into the budget period. Compare this number to your past sales periods. If you have significantly fewer salespeople now, you may not have as many total sales. So, when preparing your sales budget, decrease or increase your estimated sales figures accordingly. Any changes that have been made to your business model will affect the sales budget numbers. Changes may include things like increasing your range of products or services, expanding into new territories , discontinuing products, or recent price changes.