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In this tutorial, Eric demonstrates how to build a monthly budgeting model for a company. He starts by creating an internal template that department heads can use to submit their budgets. The template will include key information such as the department name, account type (expense), and a description of the budget item. Eric emphasizes the importance of having this structured information to streamline the submission process. He also provides a downloadable monthly budgeting Excel template in the video description for viewers to follow along. The session will eventually integrate the submitted budgets into a comprehensive monthly forecasting financial model.