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Managing Small Business Finances Excel

Managing Small Business Finances Excel – Looking for free money management software? I’ve long wanted to create a simple, macro-free financial management platform that offers the same functionality as budgeting and financial management software. A simple spreadsheet will never do everything that specialized software can do, but the new ® Financial Planner comes pretty close.

Basic financial management consists of 3 cyclical stages: PLANNING, CHECKING and ANALYSIS. The financial management spreadsheet came from a combination of my financial plan, spreadsheet, and monthly budget templates. These 3 tools provide a way to plan, track and analyze your income and expenses.

Managing Small Business Finances Excel

As a first step, you should be comfortable using a spreadsheet and understand the errors in the tables. Even if the spreadsheet is error-free when you download it, there’s no guarantee that you won’t make errors when you edit it. With that, download and enjoy!.

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This new version has all the features of the original money manager below, including monthly and yearly reports. However, budgeting is easy. It’s designed for students to start using when they leave home and start looking after their own money.

Update 6/4/2019 – I added a weekly income report worksheet. This worksheet allows you to set a weekly or bi-weekly budget and compare your budget to your actual expenses. This is a great monthly bonus, but now you have two options.

Update 08/31/2019 – I added 50 coins and 20 coins to allow more coins, but hide those lines by default. So, if you want other options, open hidden lines.

Both old and new versions can be used as a complete financial management system. With one spreadsheet, you can plan, track and analyze your personal or family expenses.

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Create an annual budget to plan for the future, manage variable income, plan for recurring (not monthly) expenses and variable expenses such as electricity or water connections.

Record transactions for multiple accounts on one worksheet. Enter your credit card account(s), checking account(s), savings account(s), and checking account to show your money, wallet, or purse.

Reconcile Your Checkbook – The Transaction History section has a cleanup tool that makes it easy to reconcile your checkbook(s). Use the comparison (R) column in the table to enter actions labeled “c” and “R”. You can enter transactions and transfers between accounts. Use Excel’s built-in automatic filtering to display transactions for a single account or all accounts.

Track your monthly expenses with a monthly budget report that includes pictures, compares budgets to actual amounts, and updates as you enter transactions. To view the report for a different month, simply change the year and month.

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Track Your Annual Income [Excel 2010 Version Only] [Update 9/2/2014] – Due to the high number of requests for the annual report, I have added a new worksheet that aggregates the income and expense report by month for the entire year. This can be useful for budgeting for the coming year.

We have created a weekly budget template for the budget manager. On the same worksheet are the weekly assignments and the report.

10/10/2016 Update (XLSX version only): Added “Accounts” worksheet for editing the list of accounts and summarizing the balances in each account. A new “Tags” column has been added to the transaction worksheet, which allows you to add your own unique tag if desired. For example, tags allow you to filter or search for specific expenses that may cross multiple categories, such as #CAR1 or #CAR2 to search for expenses associated with a specific vehicle.

Update 05/16/2017 (XLSX version only): Added a new goals worksheet that you can use to track your savings and spending balance.

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I have included detailed instructions in the workbook itself. Please read these instructions. They contain important tips, instructions and examples.

The new version of Budget Manager is simpler, but many people prefer the original version because it groups expenses into different categories. The hardest part of using the old version is dealing with coins. Fortunately, this should be done every year. Most importantly, make sure that the settings are the same on all worksheets.

What to watch out for: If you enter a transaction into an area that isn’t covered on your budget worksheet or statement, the expenses won’t show up on your reports, and you’ll think you spent more than you actually did. . I added positional compression to prevent this kind of error, but it’s not accurate. Conditional comparison only displays parameters that are not in the main list.

I’ve done my best to include a complete set of income and expense categories, so if editing the categories seems too difficult, just try using the default list.

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I hope to write more about this topic in the future. Now you can learn about budgeting in almost any personal finance book, read articles on budgeting blogs, and more.

The second difficult part of using the cash flow method is learning how to accurately and efficiently enter transactions into the transaction worksheet. If you know how to copy, paste and delete strings, this should be easy. It is very important to always copy entire rows (instead of adding blank rows) for formatting, data validation, and saving expressions in visible and hidden columns.

For new invoices, you can copy the lines for the old transactions, then insert the copied lines and change the dates and numbers. You can leave the amounts blank and create a set of rows to use for copy/paste (otherwise these rows are usually associated with account balances).

Can I use automatic filtering? yes First select the entire table and then turn on AutoFilter. You can use a filter to display transactions per account during reconciliation.

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Can I import transactions from my bank? Unfortunately not. Financial management is not very good. I have no future plans to add the ability to add transactions from your bank or other financial institutions. Money Manager does not have a built-in interface. If you want this type of job, you’ll want to use a different specialized finance program.

Whether you’re saving for a vacation, a car, a down payment, or some other future goal, you’ll want to keep a large amount of money in your savings account for those things.

One of the easiest ways to do this is to create what’s called a “Virtual Sub-Account”, meaning you don’t actually create a sub-account with your bank. Instead, you create an account called “Vacation” or “Vehicle” on the account page of the financial management template. You can enter a description and add a message to the right of the table to remind you that this is a subaccount.

In real life, when you transfer money from your checking account to your primary savings account, in a spreadsheet you record these funds as transfers to specific bank accounts.

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The tricky part is that when you reconcile your spreadsheet with your bank statement, you have to remember that the total balance shown on the statement is the sum of the total account and subaccounts.

An important part of good financial management is controlling your current spending habits to stay within your budget. You can check your finances weekly or daily, but you need to manage your money monthly.

Use the reporting sheet to compare your budget with your actual expenses for the month. You can change the month by entering the month number (1 for January, 2 for February, etc.).

Finance Manager is designed to display annual reports, so I keep an old file with last year’s tax returns and start a new file at the beginning of each year.

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For the new year, you can complete the old tasks and then add rows at the top of the worksheet to list the balances carried forward for each account.

Tip: As with recurring payments, you may want to keep a set of templates to remember which units to use for common transactions. For example, transactions, leave amounts unrelated to account balances.

Share Money Manager Template If you like our free Money Manager ® app and want to link to it on your blog or website, use this URL:

Disclaimer: This spreadsheet and the information on this page are illustrative and

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