On a recent webinar, a client had asked, “Is a budget the same as a forecast?”
Here’s what we said –
We prefer to use the word ‘budget’. There are many different ways that Accountants, or CFO people forecast or budget. For us, it’s using the budget feature in Xero.
We use this in our own business and it’s working well. It gives us so much clarity. Our team gets involved in it. And there are forecasting add-ons you can get with Xero that take your budget and turn it into a cash flow forecast or a three-way forecast. It relies on your Xero chart of accounts and your budget being spot on.
If you’re keen to explore changing accountants, we have a non-obligation process to do that. The first step is booking a strategy call with one of our accounting team. It’s a free 20-minute zoom or phone call where you get to meet us to manage your questions.
From that point, you can consider doing a “Look Under The Hood” with us. There is no obligation to change accountants, but we give you a second opinion if you’re paying too much tax.
Throughout that process, we can identify any problems we see with your current setup. Anything that your current accountant hasn’t claimed, or tax you may have overpaid, and strategies of how we might fix that going forward. We can run through with you once you book with us.
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