Monthly Budgeting & Forecasting Model [Template Included] 

In this lesson, we build a corporate monthly budgeting & forecasting template in Excel, creating internal department-level budgets that we integrate into the income statement, with a downloadable template included.
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In this video, we first build a monthly budgeting Excel template that we can send out to department heads at the company (for them to build budgets). Then we receive the budgets and integrate them back into our financial model. Finally, we build out the full income statement model to see our monthly financial plan for the full year.
Also included is a link (in the "resources & links" section) where you can download the monthly budgeting template for free.
When working in a small company, it's very important to have a straightforward budgeting process so that your department leaders can submit to you their financial plans (assuming you are on the finance team).
For that reason, you need to have a well-constructed model that can pull in and integrate their internal budgets straight into your P&L.
One other important part is that you should also always first build the revenue model & COGS so that you have a good idea of what your gross profit will be. Keeping that number in mind, you will have an easier time giving guidance to the company on how much money they have for their budgets.
Sections:
0:26 Create an internal budget template for departments
1:49 Create drop-down lists using data validation
5:16 Integrating budget data back into the forecasting model
9:40 Building the full budgeting & forecasting income model
11:56 Building customer acquisition & revenue assumptions off the advertising spend
15:39 Building assumptions for cost of goods sold
16:45 Writing the formulas for the monthly forecasting model
21:15 Formatting financial models
I hope that you can now feel confident building a corporate budgeting model in Excel. If you have questions (I'm sure you do) - please leave comments below and I'll try to help. Cheers!
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