Importance of budgeting, at least 3 months before Fiscal Year End

Budgeting remains one of the most important and critical components of any successful business. The timing can make or break any mission and objective a strategic business wants to carry out and execute by the end of the fiscal year. Whether your year ends on June 30th and you have to deal with the filing of your taxes 3 months prior, or your fiscal year ends along with the calendar year, and you have to deal with all the holidays and extension filings, one thing is overabundantly clear and have withstood the test of time. Preparing your budget several months in advance will not only provide you cushion to account for the unexpected or any miscalculations but will enable you to take proactive measures to ensure a successful year for your business. Auditing and examining your contracts, expenses, scopes of work and next action items related to each, are among the most fundamental steps an executive or a business owner can take.