Good decision-making is crucial for any organization. Therefore, a clear overview of your cash flow provides essential insight to guide that decision-making process.
A cash flow statement is one of the three main financial instruments that investors consider when evaluating the health of a company.
For any company, generating sufficient income to cover expenses is a top priority. Thus, business leaders need a good tracking system to monitor cash flows.
Tracking your financial data is often a complicated process as companies tend to have multiple revenue and expenditure streams. Moreover, when that data is processed by different departments this often leads to mistakes caused by communication issues.
For these reasons, some organizations choose to employ an in-house accounting team to centralize their financial data. However, in many cases, companies still process receipts and payments data manually. As a result, inefficiencies arise. There is a need to automate and standardize this data. Companies can opt to buy expensive financial management software solutions to solve this problem.
However, learning how to use these programs can be as time-consuming for employees as processing the data manually. Besides, sourcing and combining your financial data from different departments across the company remains as difficult as before.
While every organization has a different and unique way of processing its financial data, there is one thing that every organization across the globe is familiar with: spreadsheets.
Combining the power of spreadsheets with the cloud creates the ideal tool for companies to have their cash flow management automated by only using spreadsheets. Sheetgo’s Cash Flow Template in Excel is the solution.
Start tracking your cashflow easily
Why use Excel for cash flow management?
- Flexible: No matter what kind of business you run, Excel allows you to build a tailor-made system. You can adapt it as needs change, without any new software.
- Accessible: You and your coworkers can access, share and work with all of your financial data from any corner of the world. All you need is an internet connection.
- Compatible with everything: Every other piece of software in the world integrates with Excel. As a result, you can easily pull together income and expenses data from multiple departments simultaneously.
- Easy to use: There’s no need to onboard your team as they’ll already be working with spreadsheets on a daily basis. Maintenance is easy and there’s no need for IT support.
How to get started
Sheetgo’s Cash Flow Template in Excel is a pre-built system that allows companies to monitor cash flow.
It can be used by any organization, regardless of its sector or size. The template gives managers a way to collect receipts and payments data automatically from multiple colleagues or departments.
How to install the Cash flow template for Excel
Click the button below to get started.
How to use the Cash flow Excel template
Step 1: Enter your start date and balance
- Open the Cash Flow master sheet.
- Go to the Instructions tab and select your start date and start balance.
Step 2: Start entering your data
Be aware that both the Payments and Receipts spreadsheets contain sample data to give you an example of how to enter your data. Simply replace this data with your own.
Moreover, there are two tabs per input spreadsheet, one with Instructions and another one with either Receipts or Payments. Do not change anything in Instructions tabs of the input spreadsheets.
