One of the workshops at convention last week centered on the budgeting feature that exists in QuickBooks. I would bet that not many franchises use this feature. It is a very useful idea that can actually help a franchise manage its costs. Budgets are fairly easy to set up. There is functionality that allows a franchise to set up a budget based on the previous year’s Profit and Loss. The P&L can be used as a guide to create the next year’s budget amounts. Previous years expenditures can provide the framework to the next year. These budgets numbers are modifiable. They are not cast in stone, but can act as a great start. They can be modified as the year progresses or not.
If you would like more information, Jennifer Bowers put on a workshop at Convention that you can download the PowerPoint or when the actual video gets put up on Servpronet, watch. If you think about it, we are at the half way point of the year. Good reference point to start thinking about 2018/