Schedule 1: Sales Budget
Enter your forecasted sales data
Company Information
Prior Year Sales (Optional)
Enter last year's sales to see growth comparison. Leave blank if not applicable.
Quick Forecast Calculator
Apply a growth rate to prior year sales to auto-calculate current year forecast
Forecasted Sales (Current Year)
Enter as decimal (e.g., 0.15 for 15%)
Cash vs Credit Sales (Optional)
Split sales revenue into cash (collected immediately) and credit (collected later). Required for Schedule 8 (Cash Receipts Budget).
Enter as decimal (e.g., 0.40 for 40% cash sales)
Enter as decimal (e.g., 0.60 for 60% credit sales)
Document key assumptions for reference
Results
Enter data and click Calculate to see your sales budget
About the Sales Budget
The Sales Budget is the starting point for the master budget. It shows expected sales in both units and revenue for each quarter and the entire year.
Formula: Sales Revenue = Expected Sales Units × Selling Price per Unit
Schedule 2: Production Budget
Determine production volume needed to meet sales demand and maintain inventory levels
Inventory Policy
Opening inventory at start of year
Enter as decimal (e.g., 0.10 for 10% of next quarter's sales)
Enable JIT to set ending inventory to zero (production = sales)
Optional Enhancements
Add production constraints and cost analysis (all optional)
Enter as decimal (e.g., 0.05 for 5% risk)
Production Budget Results
Calculate Sales Budget first, then enter production data and click Calculate Production Budget
About the Production Budget
The Production Budget determines how many units must be produced to meet sales demand while maintaining desired inventory levels.
Formula: Units to Produce = Sales + Desired Ending Inventory - Beginning Inventory
Schedule 3: Direct Material Budget
Calculate raw material requirements and purchase costs for production
Materials
Add all raw materials required for production. You can add multiple materials (e.g., fabric, poles, etc.)
Material 1
Enter as decimal (e.g., 0.10 for 10% of next quarter's needs)
Optional Enhancements (click to expand)
e.g., 0.05 for 5% waste
Quarterly rate (e.g., 0.02 for 2%)
e.g., 0.10 for 10% discount
Payment Terms (Optional)
Specify when material purchases are paid (used for cash disbursement calculations)
For Q4 ending inventory calculation
e.g., 0.60 for 60% paid immediately
e.g., 0.40 for 40% paid next quarter
Material Budget Results
Calculate Production Budget first, then enter material data and click Calculate Material Budget
About the Direct Material Budget
The Direct Material Budget calculates the quantity and cost of raw materials needed for production. It ensures adequate materials are available while managing inventory costs.
Formula: Material to Purchase = (Production Needs × Material per Unit + Desired Ending Inventory) - Beginning Inventory
Schedule 4: Direct Labor Budget
Calculate direct labor hours and costs required for production
Labor Input Method
Choose between simple single-category input or multi-category labor types
Labor Requirements
Hours of direct labor required to produce one unit
Average wage rate per hour
Optional Enhancements
Add wage inflation, overtime, fringe benefits, and workforce planning metrics (all optional)
e.g., 0.01 for 1% per quarter
e.g., 0.25 for 25% (health, FICA, etc.)
e.g., 0.95 for 95% efficiency
Maximum regular hours before overtime
e.g., 1.5 for time-and-a-half
Workforce Planning (click to expand)
For calculating FTE needed
e.g., 0.15 for 15% turnover
Labor Budget Results
Calculate Production Budget first, then enter labor data and click Calculate Labor Budget
About the Direct Labor Budget
The Direct Labor Budget calculates the hours and costs for direct labor needed to complete the production plan.
Formula: Total Direct-Labor Cost = (Units to Produce × Hours per Unit) × Hourly Wage Rate
Schedule 5: Manufacturing Overhead Budget
Calculate all manufacturing costs other than direct materials and direct labor
Overhead Approach
Choose your overhead calculation method
Variable & Fixed Overhead
Variable overhead cost per unit produced
Variable overhead per direct labor hour (requires Schedule 4)
Fixed overhead costs per quarter
Non-cash depreciation expense
Manufacturing Overhead Results
Calculate Production Budget first, then enter overhead data and click Calculate Manufacturing Overhead
About the Manufacturing Overhead Budget
The Manufacturing Overhead Budget calculates all manufacturing costs other than direct materials and direct labor, including indirect materials, indirect labor, utilities, depreciation, and facility costs.
Formula: Total Manufacturing Overhead = Variable Overhead + Fixed Overhead; Cash Disbursements = Total Overhead − Depreciation
Schedule 6: Selling, General & Administrative (SG&A) Expense Budget
The SG&A Expense Budget plans all non-manufacturing operating expenses including sales commissions, marketing, distribution, and administrative costs.
Select Approach
Simple Approach Inputs
SG&A Expense Results
Calculate Sales Budget first, then enter SG&A data and click Calculate SG&A Expenses
About the SG&A Expense Budget
The Selling, General & Administrative Expense Budget plans all non-manufacturing operating expenses including sales commissions, marketing, distribution, and administrative overhead.
Formula: Total SG&A = Variable Expenses + Fixed Expenses; Variable includes commissions and distribution; Fixed includes salaries, rent, and utilities
Schedule 7: Cash Receipts Budget
The Cash Receipts Budget calculates when cash is actually collected from sales, bridging the gap between accrual accounting (sales revenue) and cash accounting (actual cash received).
Collection Policy
e.g., 0.70 for 70% collected in same quarter
e.g., 0.28 for 28% collected next quarter
e.g., 0.02 for 2% bad debt allowance
Outstanding receivables at start of year
Cash Receipts Results
Calculate Sales Budget first, then enter cash receipts data and click Calculate Cash Receipts
About the Cash Receipts Budget
The Cash Receipts Budget shows when cash from sales is actually collected. It accounts for the timing difference between when a sale is made (revenue recognition) and when cash is received (cash collection).
Formula: Total Cash Receipts = Cash Sales + (Credit Sales × % Collected Same Quarter) + (Prior Quarter Credit Sales × % Collected Next Quarter)
Schedule 8: Cash Disbursements Budget
The Cash Disbursements Budget calculates when cash is actually paid out for all operating expenses, combining data from Schedules 3-6 plus additional payments like taxes, dividends, and capital expenditures.
Material Payment Policy
e.g., 0.50 for 50% paid immediately
e.g., 0.50 for 50% paid next quarter
Outstanding payables at start of year
Other Cash Disbursements (Optional)
Income Tax Payments ($)
Dividend Payments ($)
Capital Expenditures ($)
Loan Payments ($)
Cash Disbursements Results
Calculate Schedules 3-6 first, then enter cash disbursements data and click Calculate Cash Disbursements
About the Cash Disbursements Budget
The Cash Disbursements Budget shows when cash is actually paid out for all business expenses. It combines operating expenses from Schedules 3-6 with additional payments like taxes, dividends, capital expenditures, and loan payments.
Formula: Total Disbursements = Material Payments + Labor + Overhead (cash portion) + SGA (cash portion) + Taxes + Dividends + CapEx + Loan Payments
Schedule 9: Cash Budget
The Cash Budget is the master cash planning schedule that forecasts the company's cash position and financing needs by combining cash receipts and disbursements.
Cash Policy
Cash on hand at start of year
Safety cushion for operations
e.g., 0.08 for 8% annual interest
e.g., 0.03 for 3% annual return
Cash Budget Results
Calculate Schedules 7 and 8 first, then enter cash budget data and click Calculate Cash Budget
About the Cash Budget
The Cash Budget is the master cash planning document that shows the company's projected cash position throughout the year. It identifies periods of cash surplus or deficit and helps plan financing needs.
Key Metrics: Operating Cash Flow (receipts - disbursements), Free Cash Flow (operating cash flow - capital expenditures), and Financing Requirements (borrowing needed to maintain minimum cash balance).
Schedule 10: Cost of Goods Manufactured & Sold (COGS)
The COGS Schedule calculates the total cost of producing and selling goods by combining direct materials, direct labor, and manufacturing overhead with inventory adjustments.
Inventory Values
Partially completed goods at start of year
Partially completed goods at end of year
Completed goods ready for sale at start of year
Completed goods ready for sale at end of year
COGS Results
Calculate Schedules 2-5 first, then enter inventory data and click Calculate COGS
About the COGS Schedule
The Cost of Goods Manufactured & Sold schedule combines all manufacturing costs (materials, labor, overhead) and adjusts for inventory changes to determine the final cost of products sold during the period.
Key Formulas: Cost of Goods Manufactured = Beginning WIP + Total Manufacturing Cost - Ending WIP; Cost of Goods Sold = Beginning FG + COGM - Ending FG
Schedule 11: Budgeted Income Statement
Project your company's profitability by combining sales revenue, cost of goods sold, and operating expenses into a comprehensive income statement.
About the Budgeted Income Statement
The Budgeted Income Statement combines data from all previous schedules to project your company's profitability. It shows sales revenue, cost of goods sold, gross margin, operating expenses, and net income with percentage analysis.
Key Formulas: Gross Margin = Sales Revenue - COGS; Operating Income = Gross Margin - SG&A; Net Income = Operating Income - Interest - Taxes
Schedule 12: Budgeted Statement of Cash Flows
Reconcile net income to operating cash flow and see the complete picture of cash movements by activity (operating, investing, financing) using the direct method.
Beginning Balances (from Prior Period)
Financing & Investing Activities (Optional)
About the Cash Flow Statement
The Budgeted Statement of Cash Flows reconciles net income to operating cash flow and shows the complete picture of cash movements. It uses the direct method for clarity, with reconciliation to the indirect method for comparison.
Key Sections: Operating Activities (cash from business operations), Investing Activities (capital expenditures and asset sales), Financing Activities (debt and equity transactions). Quality metrics help assess cash flow sustainability.
Schedule 13: Budgeted Balance Sheet
Project your company's financial position (assets, liabilities, equity) at the end of the budget period. Enter beginning balances from your prior period balance sheet.
Beginning Assets
Beginning Liabilities
Beginning Equity
Period Activity (Optional Adjustments)
About the Balance Sheet
The Budgeted Balance Sheet projects your company's financial position at the end of the budget period. It combines data from all previous schedules to show assets, liabilities, and stockholders' equity, with the fundamental equation: Assets = Liabilities + Equity.
Key Ratios: Current Ratio (liquidity), Quick Ratio (immediate liquidity), Debt-to-Equity (leverage), Return on Assets (asset efficiency), Return on Equity (owner returns), Asset Turnover (sales efficiency).
Master Budget Complete
Congratulations! You have completed all 13 schedules of the comprehensive master budget. Your budget now includes sales forecasts, production plans, cost projections, cash flow analysis, profitability projections, and a complete financial position statement.