Posts: 2,056
Threads: 0
Joined: Feb 2012
Reputation:
114
Any easy spreadsheets for small business use?
10-15-2015, 12:41 PM
So I'm starting a little side-business. It's highly unlikely to make much money but I need the challenge.
So I'm looking for a spreadsheet or program/app that can keep track of business expenses and sales. It needs to be dumb enough that even a doctor like myself can use it. Maybe something I can just plug into exel.
Anyone got any recommendations? There are a few free templates on the net but I thought if anyone here is already using one and happy with it then maybe he can recommend it.
Posts: 425
Threads: 0
Joined: Aug 2013
Reputation:
3
Any easy spreadsheets for small business use?
10-15-2015, 04:19 PM
Try Google Drive. Has many useful apps within it. Finance, spreadsheets, Books, Wallet, Blogger, Translate,Contacts, Mail.
Posts: 639
Threads: 0
Joined: Apr 2011
Reputation:
10
Any easy spreadsheets for small business use?
10-17-2015, 12:35 PM
I second mint. I use it for my personal finances, but I don't see how it wouldn't apply to business either given the categories it has.
I'm a huge stats guy so I'm able to get info on my all spending in well presented data visuals.
It's also dead simple to set up.
Posts: 1,370
Threads: 1
Joined: Jun 2013
Reputation:
20
Any easy spreadsheets for small business use?
10-17-2015, 02:06 PM
Learning a bit of simple Excel code will mean that you can make it exactly how you want it, and 100% relevant to your situation. Plus you can also develop it as your busines developes.
I'd download a basic template and go from there. You'll soon figure it out.
They who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety- Benjamin Franklin, as if you didn't know...
Posts: 1,909
Threads: 0
Joined: Jul 2010
Reputation:
59
Any easy spreadsheets for small business use?
10-21-2015, 02:20 AM
Thomas, it would take you two seconds to set up a legitimate spreadsheet on excel. It's not even being computer literate, it's essentially knowing a few shortcuts which I learned in a college excel course. Honestly one of the few classes worth my bullshit loan amount. PM me and I'll mail you my excel textbook. Excel is easy as hell and you can learn to do everything on it with an hour of spare time.
Posts: 508
Threads: 0
Joined: Mar 2014
Reputation:
40
Any easy spreadsheets for small business use?
10-21-2015, 09:26 AM
Is there a recommended online Excel tutorial? A youtube video or a simple website?
Don't want to get all in depth, but a solid review of the basics.
Posts: 202
Threads: 0
Joined: Oct 2014
Any easy spreadsheets for small business use?
10-21-2015, 05:55 PM
Use Excel. It's simple, easy to use, does everything you want it to do and you can use formulas to add up the contents of cells automatically so when you write down five different prices, you can add them automatically to make a total and when you edit any of the five cells the total updates, and more types of formulas.
Posts: 27
Threads: 0
Joined: Aug 2015
Reputation:
0
Any easy spreadsheets for small business use?
10-22-2015, 05:03 AM
Not sure if you are on LinkedIn, but follow the Westpac Business Insights as they have a free cashflow forecast template to use - which I recommend.
Do you have any CA's that you can talk with or get them to create a basic spreadsheet on your behalf?
Posts: 12
Threads: 0
Joined: Mar 2015
Reputation:
0
Any easy spreadsheets for small business use?
10-22-2015, 06:28 AM
Assuming the laws are similar to that of the United States...
For Expenses
My accountant gave me a great tip to track expenses for a new, small business. Get a credit card that you will only use for business purposes. At the end of the year, hand off the credit card statement to the accountant and he'll write it off on your tax return. If the accountant is fine with this, so am I. The red flags will be raised if you have several consecutive years of loses... As long as you're not running this card at your local strip joint you have nothing to worry about.
For Revenue
Highly dependent on what you're selling and what stage you're in. Are you incorporated? Do you have a bank account? Who are you billing, i.e. are you B2B or B2C?
If it's a services business, there are a ton of invoice excel templates you can grab online. Have a separate spreadsheet with invoice line items. I'd start there, when the time is right (probably when you need employees), incorporate and get a bank account for the business. You can hook up quickbooks or some other equivalent.
Posts: 27
Threads: 0
Joined: Aug 2015
Reputation:
0
Any easy spreadsheets for small business use?
10-23-2015, 10:09 PM
If you need to construct a basic Excel spreadsheet to track cashflow, work with this:
Current Cash at Bank
Plus Receipts (Inflows)
Income / Billings
Interest income
Less Expenses (Outflows)
Rent
Electricity
Phone
License fees (if using any software)
Tax
Net Receipts / (Loss)
Salient Points
Calculate your cashflow on a weekly basis over a 13 week period = 1 business quarter
Reconcile your cashflow at the end of the quarter and compare with the actuals
As you are charting your inflows / outflows on a weekly basis this can reveal any periods of funding gap, i.e. just outlays until you receive inflows of cash.
This allows you to develop strategies to deal with the cash flow shortages and can reveal additional information i.e. how long does it take you to convert WIP / Debtors into the all important cash.