204x Filetype XLSX File size 0.10 MB Source: www.bendigobank.com.au
Sheet 1: Guidelines
Guidelines for Bendigo Bank Profit and Loss forecast template | ||||
A fundamental element of starting or owning a business is to understand your business profit . Understanding your profit will assist with: | ||||
· how much real profit you are making or losing | ||||
· business planning and stock management | ||||
· developing sales targets and appropriate sales price for goods/services | ||||
Calculations | ||||
Net Profit before tax = Income/Sales - Cost of Goods Sold - Expenses | ||||
Here are some hints to assist you in completing the Profit and Loss template: | ||||
· All of the yellow fields are maintainable | ||||
· Start by adding your trading name and year i.e. XYZ Pty Ltd | ||||
· Select from the drop down list the starting month i.e. October (note, the other months will populate across the X axis) | ||||
· Add your Predicted sales and then simply input the expected opening and closing stock numbers, purchases expenses in each yellow box. The ‘total’ & ‘summary’ values will automatically update. | ||||
· Values can be changed, simply by overtyping an amount | ||||
· Purchasing a business? Use the prior owners historical numbers and allow for known variances. Use the Notes section of the template to comment on the differences | ||||
· How does your business compare? Use industry reports to check that your forecasts are in the normal range. | ||||
If you don’t have access to any industry data, speak to one of our Business Specialists who can assist with this information. | ||||
· Are you connected? Use existing relationships to assist in your planning i.e. accountant, banker or colleague | ||||
· Allow for any seasonal issues including sales and discounts | ||||
· Assumptions - remember to document your assumptions so when planning your next 12 months you know what you did the previous 12 months | ||||
· Personal Expenses - don’t forget to include your personal living requirements ( either as a salary or drawings) | ||||
This profit & loss forecast template contains a list of suggested profit items and expenses a typical business may have. You can add additional items at the end of the spreadsheeet. This profit & loss statement is intended as a GUIDE ONLY and DOES NOT constitute financial advice, please verify and discuss your financial statements with a qualified accountant, solicitor or financial advisor. This profit & loss statement has been developed by Bendigo Bank, located within the Bendigo Bank Business Hub, www.bendigobank.com.au/BendigoBankBusinessHub. |
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