A budget is a document that estimates income and expenses for a specific period of time (e.g., a month or year).
Budget Extended Definition
A budget can help small business owners plan how money coming into the business (income) can be best used to pay the bills generated by the business (expenses).
A well-designed budget contains information about:
- Anticipated sources of income
- Expected fixed and variable expenses
Budgets are useful management tools designed to help control spending and assist with planning.
Last Updated By
Christan Neff | Apr 11, 2023