Start every budget cycle from zero. This template requires each expense to be justified from a blank slate rather than rolled forward from last year. Includes priority ranking, business case fields, and approval tracking to ensure every pound of spend earns its place.
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Step by step
Start with a blank sheet. Add every expense you plan to incur, regardless of whether it existed last year.
For each line, document why the spend is necessary, what the expected return is, and what happens if it is cut.
Rank each item as Critical, Important, or Nice-to-have. This helps finance prioritise when the total exceeds the available envelope.
Finance reviews each item, adjusts amounts where needed, and marks approved items. The approved column gives the final budget.
Watch out
Treating zero-based budgeting as a one-time exercise rather than an annual discipline
Spending too long justifying small, recurring items that are clearly necessary
Not involving department heads in the prioritisation process
Failing to track whether approved spend delivered the promised ROI
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