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A budget is a tool that is managed between companies and between families almost daily. From simple budgets in a house to go to the supermarket, to huge complex budgets that need elaboration, when for example a construction company does a great work. In any case, numbers and the economy play a fundamental role in all of them, so will explain how to write a budget.
Steps to follow:
1.When a company offers a service or product to a customer, it will usually have to prepare a budget, in the case that it is a purchase of large quantities or that it offers a service. For example, if a customer decides to buy a large amount of stationery from a wholesaler, data such as price, quantity, payment method or discounts should be included in the budget.
2.First, a budget must present some basic information in any of the cases in which it is made. This information must be:
- Company that issues the budget and makes the sale
- Transaction Concept
- Prices, including VAT
- Way to pay
- Data such as company ID, contact phone number or address must always be included.
3.When defining the economic amount of the budget and breaking it down, we will have to take into account some details that help us set the final price of our sale:
- It will be necessary at least to cover costs of what we sell or the effort of our service.
- We must determine a profit margin, to know how much we want to earn in relation to what it has cost us.
- If the situation requires it, we must take into account the discounts that we will apply to our client, for special promotions, for payment by credit card or for prompt payment, etc.
- Know the prices of our competitors, so that our prices are in the general line of the market and are not too different.
4.It is important that the budget is realistic and adapted to the needs of our company and our client. Ideally, we offer the client a budget that fits what he requires, after studying their problems or needs. Subsequently, we have to be open to possible modifications that may be agreed upon, after the study of the budget by our client.
5.Finally, there are some details that must be taken into consideration, since it is not appropriate to leave loose ends in any economic transaction. These are:
- Legal conditions to which the sale is subject
- Guarantees offered by the manufacturer and by our company
- After Sales Technical Service
- Term and method of delivery