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Manage Finance and Budgets

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Manage Finance and Budgets


Custometal Pty Ltd has been trading since 1992 under a couple of different names before becoming a proprietorship in 1998. Since its conception in 1992 it has been with the same owner and trades today as a sole proprietorship.

Custometal’s customers consist of the construction industry across Melbourne. Custometal is what is known in the industry as a metal work sub-contractor, with our scope of works basically consisting of custom fabricating all metal items excluding structural steel and items that can be mass produced.

Custometal’s company structure consists of 1 general manager, 2 accounts staff, 2 estimating staff, 1 foreman, 2 leading hands and 16 tradesmen, 4 labourers and one apprentice. Being a trade based company; really what we are selling is the time and skills of our workforce more then a physical end product of their labour.

1.0 Introduction

Being a trade based company; Custometal’s budgets are not as easy and strait forward as those of manufacturing, retail or even most services companies. Like most companies, we have sales targets, administration budgets, and services budgets that can be fixed, but our workshop budgets and production-based budgets rely heavily on the amount of contracts we have and the type of products we have to supply.

The flow of Custometal’s budgets like most are circular, therefore it is difficult to talk about communication of budgets without talking about reporting procedures and how activities are controlled and monitored.

The production cycle of our products starts with the estimating

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