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One blog post closer to clean books.
Each blog post from the Castle team is packed with practical tips, real-world experience, and clear answers to common bookkeeping questions. Whether you're sorting expenses or planning for tax time, you'll find guidance to help you run your business with clarity and confidence.
Terms of Service
Welcome to Castle! These terms of service outline the rules and regulations for the use of our bookkeeping services.
By accessing this website and using our services, you accept these terms and conditions in full. Do not continue to use Castle services if you do not accept all of the terms and conditions stated on this page.
Castle offers professional bookkeeping services including transaction categorization, reconciliations, financial reporting, GST/HST filing, and other related services as agreed upon with the client.
2. Billing and Payments
All services provided by Castle are billed on a recurring basis unless otherwise
agreed upon. Payments are due upon receipt of invoice. We accept payment via credit card, debit card, and electronic funds transfer.
3. Cancellation and Refund Policy
Clients may cancel services at any time by providing 30 days’ notice in writing or via email. Refunds for prepaid services will be prorated based on the remaining unused portion of the services.
4. Privacy Policy
Our privacy policy outlines how we collect, use, and protect your personal information. We do not sell or share your information with third parties without your consent, except as required by law.
5. Liability
Castle will perform all services with reasonable care and skill. However, we do not accept liability for losses resulting from acts of nature, third-party errors, or misuse of financial information or reports by the client.
6. Amendments
Castle reserves the right to amend these terms of service at any time. Amendments will be effective immediately upon posting on this website.
7. Contact Us
If you have any questions about this privacy policy or our privacy practices, please contact us at:
Castle
316 1st Ave NE
Phone: 587-872-0602
Email: info@bookwithcastle.com
One blog post closer to clean books.
Each blog post from the Castle team is packed with practical tips, real-world experience, and clear answers to common bookkeeping questions. Whether you're sorting expenses or planning for tax time, you'll find guidance to help you run your business with clarity and confidence.
Bookkeeping for Small Business Owners — Part 13
Budgeting and Forecasting: Turning Numbers Into a Plan
With year-end wrapped up, you’re standing at the starting line of a new business year. The books are closed, the reports are in hand — now comes the fun part: using those numbers to shape your future.
Why Budgeting and Forecasting Matter
- Budgets give you a roadmap. They help you control spending, allocate resources, and avoid cash flow surprises.
- Forecasts look ahead. They show you what revenue and expenses might look like if trends continue or conditions change.
Together, they keep you proactive instead of reactive.
Building a Budget
- Start with last year’s data — Your Profit & Loss is the best baseline.
- Adjust for changes — New hires, price increases, equipment, or marketing initiatives.
- Be realistic — Overly optimistic budgets create pressure, not progress.
Creating a Forecast
- Project revenue — Based on sales history, contracts, or seasonal patterns.
- Estimate expenses — Fixed costs (rent, insurance) and variable costs (materials, shipping).
- Run scenarios — Best-case, worst-case, and most likely outcomes.
Pro Tip
Review your budget and forecast monthly. Things change quickly in business, and flexible adjustments will keep you on track.
The Big Picture
Budgeting and forecasting aren’t about predicting the future perfectly — they’re about creating a clear, confident direction for your business. When your numbers guide your decisions, growth becomes intentional, not accidental.
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