The Heard therapy practice budget template For instance, advertising your practice on Facebook could help to bring in new clients, but you don’t need it in the normal course of doing business. It may change month to month, but if you don’t pay it, you’ll be conducting client sessions in the dark.Ī discretionary expense benefits your business, but it isn’t absolutely necessary. Necessary expenses need to be paid so your practice can keep running. Variable expenses can be split into two categories: Necessary and discretionary. Depending on the conditions of your lease, your rent may increase each year-but you can still consider rent a fixed expense for the purpose of creating monthly or quarterly budgets.Ī variable expense is one that changes month to month and quarter to quarter. Office rent is a good example of a fixed expense. variable expenses for your therapy practiceĮach expense in your budget is either fixed or variable.Ī fixed expense is one that remains the same month to month and quarter to quarter. Staying on budget means spending less than anticipated on expenses, or earning more than anticipated in revenue.įixed vs. Going over budget means spending more than you anticipated for expenses, or earning less than you anticipated in revenue. Your actual numbers are the ones you hit. It features projections as well as actual numbers.It also includes every type of revenue your business earns, so you can plan precisely how you will cover your expenses. Your budget isn’t just a list of bills you have to pay. It includes revenue as well as expenses.Comparing these with an annual budget lets you see how you’re performing over the course of the year. A monthly or quarterly budget is the most useful budget to have on hand when you’re making purchasing decisions or planning your revenue for the month. The budget for your therapy practice does three things: That keeps you in tune with how your business is actually performing, versus how you expect it to perform-making it easier to keep your private practice financially healthy and sustainable in the long run. It also tells you how much they really are. Your budget not only states how much you can expect your expenses and revenue to be. Creating a budget for your therapy practice helps you anticipate expenses so you can be sure you have enough cash flow to do fun things like pay rent.Įven more importantly, your budget keeps you in touch with reality.
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