Budgets - Demo

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Transcript

Here's what a budget typically looks like. In the far left corner. Our face coats on these are accounting terms. Our accounting codes used to identify each particular expense or income type. So 720000 is the face code for office supplies and 721501 is the face code for uniforms and so on and so forth. Next is the description of service.

Yeah, here you want to specify who you're spending money on and what services these vendors are going to provide for you. So for look at miscellaneous equipment supplies, I have several vendors there with timekeeping, for example, being a supplier of petrol verification systems, Corrigan a supplier of screening and X ray machines and equipment and global industrial being a supplier of fences and barriers. Next is the cost per hour that's typically annual although you may have managers asking you for a monthly breakdown of costs but typically it is annual followed by the cost itself. See here I'm looking to spend $4,000 in office supplies a total of $6,000 between the two vendors for uniforms and so forth. down the line, there is a contract End Date column, just as a placeholder for accountants to refer to contracts if there is a contract there. And finally the justification column.

I hear I need to explain why I'm planning to spend the money. So for office supplies with $4,000 I'm planning to buy printer cartridges and general stationery office supplies. For uniforms I'm planning to buy $4,000 worth of uniforms are my security supervisors from Mark's warehouse and some specialty items such as vests and other gear from GE forests. That is basically it. That is the budget

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