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BUDGET PREPARATION SERVICE
Increase Your Profit & Cash Flow
Our budget service includes the following components:
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Gross Margin Plan at the total annual planned sales level. This is planned at the class / category / department level and is used to see what the store’s Gross Margin will be this year. This Gross Margin data is then used in the preparation of the Budgeted P&L (Cost of Goods Sold section).
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Budgeted Profit & Loss Statement for the year, on a monthly basis. This is where you plan the store’s monthly sales goals and expense budget for each expense category you track in the General Ledger.
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Projected monthly Cash Flow. This is a by-product of the budgeting process and takes into consideration any principle payments on loans and any planned capital expenditures such as remodeling or the purchase of a new computer system. The Cash Flow Projection is very important to you and your banker. It lets you know in advance where you will need extra operating funds - - - and when you will be able to pay back any short-term operating loans.
The whole process should take no more than 1-2 weeks, depending on how quickly we receive requested information from you.
Linda Carter, who will be supervising and reviewing the budgets, has over 30 years experience in retail management (both as a controller for a 5 store operation and as a management consultant for Gerald H. Smith & Associates and The Retail Management Advisors.
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