Creating a Budget
Budget control checklist
6. Create the budget
Using all the information sourced, create the budget, keeping detailed notes as to why particular figures have been stated so you can explain how they were calculated. Ensure you build in contingency allowances, just in case things do go wrong, and double-check all the calculations included.
Budget control reccomendations & considerations
Avoid drawing the budget up solo - use and utilise support available
When assumptions are used , ensure these are fully evaluated.
Avoid being over-optimistic, it’s more beneficial to be realistic.
Ensure you are thorough when it comes to gathering information that will be used to influence and contribute to the budget formation.
Future Practice Owner.
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