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text 2020-01-03 11:43
How To Prepare Budget Performance Report


You, as an owner, always need to be on the lookout for the information that will make your business more productive. That is the reason you must know how to prepare a budget performance report.


What is the Budget Performance Report?


The budget performance report is an analytical instrument that lets you know how your business is doing. This report compares the actual performance of your business during a specified period with the expected or budgeted.


Budget Your Expenditure

For a small business owner preparing budgets is a way of planning future expenditures. It is the place where you quantify how much sales your business needs to generate and how much expenditure you could afford over the period under discussion. The budgets also tell you whether or not you should look for external financing.


Know Budget variances

Most financial budget processes are initiated on an annual basis. However, it is beneficial to track budget variances monthly. Such a budget performance report compares money spent with the amount of sales generated over the month.


It is a task better done using budgeting and forecasting software. With a few clicks of the mouse, you get to know the budget variances. If they are excessive, it means you need to take corrective steps to improve your budgeting process. It will ensure that your business' financial needs are anticipated and met.


How to Generate Budget Performance Report for Your Small Business


Most importantly, the software assists you in the generation of various other financial statements or reports for your business. Using it, you can prepare a budget performance report with four columns.


The columns are as follows:


  • Actual Amounts
  • Budgeted Amounts
  • Variance Amounts
  • Variance in Percentage


After logging in the software, search for and click on "Reports" in the menu on the left hand. Click on "Report Gallery" and then search for "Budget." It has two reports "Budget Analysis P & L and Budget Analysis Balance Sheet." These two reports contain the budget and performance-related components.


The Budget Analysis P & L report is rightly suitable for your purpose. It gives you information on your business' performance laid out in four columns that are listed above.


The third column gives the difference between the budgeted and actual amounts. If the difference is positive (actual numbers are better than budgeted), then it is called favourable variance. Otherwise, it is termed as the unfavourable variance. You experience it when you forecast too high revenues or budget too low expenditure.


Actionable Budget Performance Information


The budget performance report enables you to pinpoint the areas where your business has performed as expected and met the budgeted numbers head-on. It also reveals areas where the business has failed to do so.


The information may point to financial or non-financial causes responsible for the variance and the budget going outside its bounds. Most commonly, it is the increased resources or additional costs. It could also arise from the replacement of inferior resources or increased expenditure on employees.


If you are still wasting time and resources on doing accounting manually, you need to think hard about it. Digitizing your business' financial information using online budgeting and forecasting software is always the better option. It processes the data instantly and generates financial reports that you could use for decision-making. When you have a detailed analysis at your disposal, it becomes easy to take care of the areas that need improvement.



Source: www.oneaccountingsoftware.com
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text 2019-12-23 04:26

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 NO. OF TOWERS & FLOORS: On request
 PROJECT ZONE: South Bangalore

RERA NO: Coming Soon

BUILDER: Godrej Properties


PROJECT TYPE: Residential Apartments


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text 2019-12-19 04:03
condition ensure that you face no trouble

It may so happen that you do not own a car of your own or your car is not big enough to accommodate your lovely family for the trip. Wouldnât that be the most exciting thing to do? People who love travelling by road know how thrilling and adventurous it can be. Imagine travelling to far off places by road in a completely leisurely manner. Customers can negotiate their requirements and get the kind of vehicle they need easily. Taking employees on an office trip or picnic can now Car Lifts Company be easier and even more enjoyable with 15 passenger vans available for rent.Just decide your itinerary and contact the car rental services. Destinations can change and newer options can crop up on your list any time when you are on a road trip.


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text 2019-10-24 18:16
Bravo Your City Round Up
The Budget Foodie: Hong Kong (Bravo Your City! Book 3) - Kevin Ung
A Week in the French Riviera (Bravo Your City! Book 5) - Sophia Hélène Price
Havana Cuba Highlights - Vita Zakhu

Of these three, the Hong Kong Budget Foodie one is the best.  There is a charm to the writing that gives it an edge.


Apparently the French Riviera is just shopping for shoes or clothes and eating.  (Honesty, some people shop for books).


Havana Cuba was pretty interesting.

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text 2019-07-02 08:55
10 Best Budget Friendly Hotels in London

London, UK capital, is one of the coolest, most dynamic and cosmopolitan cities on the planet with a virtually endless array of attractions for all tastes and ages but unfortunately, London hotel prices stop many travelers from visiting this great city. If you are willing to keep your expectations in check and look at your hotel as a place to sleep while you enjoy the city, good hotels can be found that are budget friendly. Here are ten recommendations that may help you start planning that trip you promised yourself.


1. The Hoxton Hotel



Hoxton is a hip and gentrifying area near the East End and the Financial District. The bars of Shoreditch and the shops and restaurants of Spitalfields Market are within a short walk. This 205-room hotel offers you cheap phone calls, pre-packaged healthy breakfasts delivered to your room, and a fridge filled with free mineral water and milk. The high-ceilinged, exposed-brick lobby has a minimalist, shabby-chic feel, and the focus is on useful amenities, no gym or overpriced minibar.  All rooms are identical, with wood paneling, flat-screen TVs, and down duvets and pillows. Great Eastern Street is heavily trafficked so it can be noisy. Request a room overlooking the courtyard or quieter Willow Street. Advanced bookings get you the cheapest rate.



2. Umi



Fashionable Notting Hill, London's answer to New York City's West Village. The hotel sits on a residential block, a 10-minute walk from Portobello Road's famous weekend market, this hotel has a room for every type of traveler. Umi is made up of six 150-year-old private town houses that have been converted into a single hotel. The lobby is homey, with comfy brown sofas and carpeting, and art by local illustrators. The 117 rooms include singles well-suited to solo travelers just looking to bunk down. If you're traveling with a group, doubles, triples, and quads are available and some with bunk beds. All rooms have a private bathroom. The young, sharply dressed hotel staff goes out of its way to be helpful and accommodating.


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