Event budget planning software

Each of the expenses and revenues mentioned above would each be one line item in your budget. Group your expenses and revenues in a way that makes sense for your specific event. We recommend assigning specific titles or categories to make tracking and reporting simpler. You should also have two columns for estimated and actual numbers.

The most practical way to forecast expenses and revenues is to look at past years, and use an average of those numbers as a starting point. Always save all invoices and receipts to back up your event budget. Think about what could trigger additional cost and develop a plan to address these. Once the budget has been determined, you can then consider your venue, promotions, equipment, staffing and any other elements related to your meeting or event.

Two key elements often overlooked when forecasting expenses and revenues for a meeting or event: cash flow and starting cash. Especially for events, expenses will most likely occur before the first revenues are generated.

When booking venues, you often have to put down a deposit; an expense that will likely happen before you sell your first ticket.

In short, you need to be able to pay your bills while you await payments. This is your cash on hand before expenses. If the number is positive, you have a positive cash flow. Starting cash is the amount of money you have readily available at the start of any given period. Below is a simplified cash flow example. The planning stage during event budgeting is just the starting point. As mentioned earlier, not all expenses can be forecasted and your budget will most likely change during the event planning process.

This makes it crucial to review and track your budget. Depending on the size of your company, you might want to meet with the owner instead. This way, you can ensure that you are in good shape before continuing the event planning process. However, the earlier mentioned contingency fund will come in handy when dealing with unplanned expenses.

Tracking your budget throughout your event, including the planning stages, is important. There are a number of helpful technology solutions on the market that will support you in this quest like Expensify. One of the many ways that technology can help you achieve your financial goals is through the real-time speed and accuracy that allows you to communicate and collaborate with your team. Transferring all of your financial systems to a cloud-based system will literally enable you to manage your financial operations anywhere, and anytime.

There are a range of products and services available to support your current and future financial management needs, such as CendynArcaneo , FreshBooks , Certify , or Money Owl.

Before making a decision on a particular product, ensure that you have spoken with all stakeholders within your organization. Ask yourself if the technology solution can be easily implemented or if training is necessary. We want to connect with you! Contact Us. Event Budget Management Effortlessly manage event finances without being an expert.

Control and track event expenditure, revenue streams and overall financial performance. A straightforward financial tool to input expenses and track revenue against real-time registrant data to ensure you know the return on your events. Manage Your Event Budget Efficiently.

Eliminate the Guesswork of Tracking Expenses Design and manage an event budget that aligns with your organization and events - clone and modify for repeat events. Organize and track expenses by categories, vendors, taxes, and GL codes. With support for international registrations, select from over 60 currencies.

Intelligently Stay on Track Throughout Every Event Stage Stay on track at all times with automatic updates of revenue and expenses throughout the planning and registration process.

Track projected versus actual budget anytime and automatically calculate variable costs to see your remaining budget. Review planned versus actual budget and generate variance reports. Thought Leadership from the Event Professionals.

Read Now. White Paper Gain Control of Unmanaged Meeting Spend We unveil the three main challenges for strategic meetings management and how to solve them.

View all Resources. Cvent's sophisticated budgeting tools alleviate the pains of tracking funds, recalculating variable costs, and monitoring budget surplus. Rest assured that your budget information is accurately collected, resulting in actionable reporting to demonstrate the ROI of your meetings and seamlessly track savings.

Track negotiated rates and actual paid against the initial quote to show their return on objectives. Design customized budget templates to shortcut the budget creation process and ensure consistency. Standardize categories, subcategories, taxes and GL codes to accurately track and report spend across meetings and ensure data integrity.

Track budget line items in local currencies and establish exchange rates to convert items to a base currency for better reporting. Analyze key spend metrics through robust reporting engine i. Integrate or transfer your data between Cvent and other systems like Concur's Expense module or QuickBooks. Analyze event success with standard or custom reports in real time and export into common formats.

Skip to main content. Event Budget Management Software Managing your event budgets has never been easier.