If you’re aiming to stabilise your business finances and scale sustainably, mastering budgeting and project cashflow management is essential. At Outside Accounting Wellington, we regularly help business owners create realistic budgets and maintain strong financial control throughout their projects.
Project-based businesses often deal with fluctuating costs, unexpected expenses, and complex resource management. Without a solid budget and real-time cashflow tracking, you could quickly run into financial trouble.
Before launching any new project, it’s critical to estimate all potential costs involved. These include:
Materials or product costs
Equipment purchases or rentals
Staff wages and contractor fees
Overheads like transport, admin, or utilities
Walk through the entire project lifecycle and identify every potential cost. The more precise your estimate, the more accurate your project budget will be. This cost breakdown forms your baseline for budget creation.
Once your estimated costs are mapped out, create a formal project budget. Be sure to:
Build in contingency funds to cover unexpected price rises or delays
Allocate spending limits across each project phase
Use your accounting software to assign budgets and track performance
Cloud accounting tools such as Xero or MYOB make it easy to compare actual spending against your budget in real time. You’ll gain visibility and control across every dollar that’s spent.
Project budgets aren’t static—they must be actively managed. Prices shift, suppliers change, and delays happen. That’s why cashflow forecasting is just as important as budget setting.
We recommend:
Monitoring incoming and outgoing project cash daily or weekly
Running worst-case and best-case scenario forecasts
Spotting early warning signs of overspending or low cash reserves
If your cash position looks weak, consider adjusting timelines, re-allocating resources, or securing short-term finance.
Leaving project finances to chance is a dangerous move. Today’s digital finance tools mean you no longer need to fly blind. Set financial metrics, monitor performance, and take swift action when things start to veer off track.
If you’re planning to scale up your startup or manage large, multi-phase projects, budgeting and cashflow management are key. Our expert advisors will work with you to build reliable, flexible budgets and provide ongoing financial insight to keep your projects profitable.
Contact us today to streamline your budgeting process and secure your business’s financial future.
Our Business Clients
Cam recently caught up with Grant Douglas, owner of Makers Fabrication, to get his perspective on a few things. If you want to chew the fat with Grant further – get in touch and we’ll set it up.
Besides being pretty all-round top blokes, Matt and AJ are bloody screwed on when it comes to growing their business and smashing their goals.
Flick us an email or give us a buzz!
Address: Level 1/8 Tennyson Street, Te Aro, Wellington 6142, New Zealand
Mail: PO Box 24-457, Wellington 6142
Phone: 04 889 2975
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