A reliable budget will allow you to understand how to control your expenses: the organization will spend only when you are clearly aware that these expenses can be allowed. The budget will also allow you to see information about savings to create cash reserves for the company.
One of the best ways to manage a firm’s budget is to create a cash forecast. Such forecasts will be needed to plan financing and allocation of resources between different lines of business. We’ll introduce you to the basic steps that you need to take in order to use the forecasting capabilities to the maximum. Continue reading