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The last Green Industry Pros podcast (GIP14) covered Accounting & Invoicing with a reference to ABC or Activity Based Costing. Putting together an effective budget doesn’t require ABC but sure helps. We start this discussion with the types of budgets available to a landscape business owner and then focus on where to start. One last thought, a budget has two demands to be effective: accuracy and forecasting.
Types of Budgeting Systems.
Start with either the Traditional or Zero-based System, then as your competence and confidence increases move to Flexible and Rolling Budgets.
Now the question moves from the system to its use. This is a quick overview, and we choose the choices most appropriate for small landscape companies.
Your Options: Master budget, Operating budget, Financial budget, Cash budget, Labor budget, Capital budget, and Strategic. Our recommendation is to start with the operational budget and then add the cash budget.