books in black step 1: don't fear the budget; build the budget! It's a common misconception that the word budget = restrictions; however, the reality is, creating a budget allows you to focus on ​the simple mathematical equation of getting your books in the black: sales (income) minus expenses = net profit (loss). sales (income) > expenses = in the black. sales (income) < expenses = (in the red). If you're budget ends up (in the red), you're prepared to make informed deci