No matter what type of business industry you are planning to be a part of, preparing startup documents such as the financial statements should not be such a tedious task. In fact, it should not take so much time doing so. Besides, it will always be a good idea to know the estimate of how much your business will cost you before you decide to push through with it.
It will also help you avoid underestimating how much your startup cost will be because you will have a good estimate of the cost. We want to help you out with how you can get a good estimate of how much you would need to shell out for your startup and avoid preparing lesser than the estimated cost. Just ensure that you keep reading this article to find out more about business budget worksheet templates.
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What Is Found in a Startup Cost Worksheet?
To get a better grasp of what you will usually see in a startup free sample worksheet for businesses. What we will show you in this part of the article will help you compute how much you will need to prepare to ensure that your business is up and running.
These are the expenses that you will need to be prepared for when it comes to opening your startup business.
- Advertising. When starting a business, you want to make sure that you get the word out about your business efficiently. Allotting a good amount of finances for advertising your business would be a good idea. It does not have to be a large amount of money. It just has to be worth the spend.
- Starting Inventory. This pertains to the initial inventory that you would have when your business starts operating.
- Construction and Remodeling Expense. If you are planning to have your own building or if you want to make modifications to the space you will be leasing, you have to allot an estimated amount of money for construction services according to the quotes that were provided by the contractors.
- Cash. You will need cash in your cash register. You also have to make sure that this amount of money will be part of the initial capital of starting your business.
- Equipment Expense. You would need to have equipment in your business to ensure that all operations will go as smooth as possible. You can make use of actual sales quotations given to you by the supplier/s of your business equipment.
- Utility Deposits. This will include water, electricity, and Internet. You have to check with the utility providers how much it would cost to have such utilities installed.
- Business Permits. You have to make sure that you have your business registered with the municipal or city offices to ensure that you are operating legally. Registering your business will have a corresponding fee, so you will also need to prepare this in order to acquire a legal business permit.
- Insurance. Getting your business insured can help you protect your business from any unwanted situations. You can ask an insurance company for a business quotation for your insurance.
- Others. The amount of money you will be preparing as capital will all depend on what your business will need. Ensure that you have everything you need to be accounted for and that you have an accurate estimate of what you will be needing for your business.
Ongoing Monthly/Quarterly Capital Expenses
What will be included in this part of the startup accounting worksheet would be the expenses that you will have on a monthly or quarterly basis. Here is what you will find:
- Bank fees such as credit card charges and annual charges
- Employee salary
Steps to Creating a Startup Costs Worksheet
We want to share with you six easy steps regarding how you can make your own startup costs worksheet. Keep reading to know more!
Open a Spreadsheet in Excel
You can easily make a worksheet by making use of Microsoft Excel or any other spreadsheet application that is available on your computer.
“Why make use of Excel?” you may ask. Well, it is for the reason that it is pretty easy to compute finances and expenses through Excel. You can easily assign formulas on specific worksheet cells to make computations way easier.
One good idea on how you can format your business expense worksheet templates is to put all the items down on the left side of the worksheet and the corresponding amounts on the right side of the items. The last item in the worksheet would be the total amount of capital expenses that would give you a rough and accurate estimate of the amount that you would need to have prepared.
Make sure that you will be as detailed as possible, even to the last cent. This would make your estimates closer to the amount that you would need to have prepared.
Calculate Facilities Costs First
These are the costs that are related to utilities, construction and remodeling costs, and location. Such costs might be as follows:
- Deposits such as for rent or lease and utilities.
- Improvements such as remodeling or construction.
- Interior and exterior signages.
- Miscellaneous facility costs such as taxes, fees, and appraisals.
Equipment Costs, Business Vehicle Costs, and Materials
The costs under this section will depend on the equipment and the vehicles that you would need for your business.
- Common equipment will include computers, chairs, phones, and other types of office furniture.
- If you were to acquire vehicles for your businesses, they will commonly be used for delivery, manufacturing, and sales.
- You will also need to acquire some office supplies and advertising materials for your business.
All of these costs will be on a monthly budget.
Calculate Other Startup Fees
Other fees would include the following:
Calculate each section of your worksheet and calculate the total amount. This would be the amount that you would need to prepare.
We hope you have learned a lot about preparing the worksheets for your startup. However, that is only one of the things that you need to take care of. To know more about what you need to prepare for your startup, you can take a look at Business Start-up Checklist to know more about what you would need to prepare for your business. Good luck!
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