Before AutoCFO, your main option was to open an Excel spreadsheet, download your Profit & Loss statement from your accounting system (QuickBooks), copy the expenses from last year, then start typing numbers into the excel cells for what you think will be different from last year. It’s a bit exhausting just thinking about all of that work!
Why budget? Think about any big goal you’ve achieved in life. Whether your goal was strength training or planning a big trip, my bet is you have always been more successful when you had a plan. Your business should have a plan too. If you spend all of the money you receive from customers on a big marketing campaign to bring in new business, but don’t set aside money for rent or payroll, you may be out of business before you can provide the services advertised in your campaign.
Your bookkeeper, accountant, and CFO all speak Accounting as a mutual language. Accounting is a useful language, and AutoCFO is going to teach you a few terms that will be important for communicating with investors, accountants and other finance people. But at the end of the day, this is YOUR business and we want you to set up your financials YOUR way.