When you plan an event, making a budget is always a part of the first steps. Stay in the budget and be sure to add a line item for all things you and your event will need. It’s a critical step to stay on track of building a realistic budget event. Luckily, you can always simply download and use the event budget template if you do not wish to start from the scratches.
Using the Event Budget Template
You are most likely to find the event budget template as a spreadsheet. Microsoft Excel will be the main program used for this purpose. On the other hand, you can also use Google Drive or other budget spreadsheet program that is accessible online with a capability of collaboration, so you and your partners can always keep up with any update and change made for the budget.
Customizable Event Budget Template
Generally, all the event budget template spreadsheets you can find out there are customizable so it’s always easy to change the event items, such as task names, due date, budget for every detail, and such. And without a doubt, there will also be a formula to calculate the actual expenses spent to compare with the planned expenses later.
Collaborative Event Budget Template
The thing with the budget template spreadsheets that are collaborative is its flexibility. No need to print sheets of paper to carry wherever you and your team go; it can be accessible from your mobile device, such as phone, tablet, and laptop! The sharing function also allows the assigned member to attach files (invoices, floor plans, contracts, etc.), add a comment and note, and even set alert and reminder.
When you’re building the budget, however, there are some important things you will always find useful when kept in mind. Bear in mind that some venues will require certain permits when an event will be hosted there, so be sure to include a line item to cover such permits, such as street closures and fire.
It is always recommended to over-allocate funds budgeted for power, since there are always chances where a vendor and even more will need to use more than your team might already have anticipated.
Without a doubt, be sure to calculate the needs of staff as accurately as possible—the highest attendance expected can be a great basis. As the event is nearing, you can cut the number down and when additional staffs are still needed anyway, only then you can start recruiting.
Never forget about tax! In fact, it is the cost easiest to overlook, so always remember that the estimates you will receive and have received from the vendors also include tax. You may need to pay attention to the different tax rate too, such as when you’re planning to work with vendors from certain cities.
In the end, budgeting is always a critical step when it comes to planning. And with event budget template, it will help you plan an event in order to go through all the preparations and finally execute the event perfectly. With downloadable budget template, you are less likely to start working from scratches. And with online budget spreadsheets, it’ll be way simpler and easier for your team to use, especially with real-time collaboration feature.